KUALA LUMPUR, Dec 11: The Council of the Islamic Financial Services Board (IFSB) today resolved to appoint its Chairman and Deputy Chairman for the year 2018. HE Dr Mohammad Y. Al Hashel, Governor, Central Bank of Kuwait, will take over the Chairmanship of the IFSB, while HE Fazle Kabir, Governor, Bangladesh Bank will be Deputy Chairman. HE Dr Mohammad Y. Al Hashel will take over the chairmanship of the IFSB from HE Dr Valiollah Seif, Governor, Central Bank of the Islamic Republic of Iran. The new appointments will take effect on Jan 1 2018.
The 31st meeting of the IFSB Council, hosted by the Central Bank of the Islamic Republic of Iran and Bank Negara Malaysia, was held on Dec 11 2017 in Kuala Lumpur, Malaysia. It was attended by 14 Governors and Deputy Governors of regulatory and supervisory authorities, and 11 senior representatives from among the Council and Full members of the IFSB, representing 18 countries and the Islamic Development Bank. The meeting was chaired by HE Fazle Kabir.
Brief profiles of the newly appointed Chairman and Deputy Chairman are as follows:
HE Dr Mohammad Yousef Al-Hashel is the Governor and Chairman of the Board of Directors of the Central Bank of Kuwait (CBK) since 2012. HE Dr Al-Hashel is the Alternate Governor of the State of Kuwait at the International Monetary Fund and the Arab Monetary Fund. HE Dr Al-Hashel is also a member of the Financial Stability Board Regional Consultative Group for the Middle East and North Africa (MENA), a Governing Board member and the Chairperson of the Board Executive Committee of the International Islamic Liquidity Management Corporation (IILM), and member of the Board of Directors of the Gulf Monetary Council.
HE Fazle Kabir is the former Senior Secretary to the Government of Bangladesh, and joined as the 11th Governor of Bangladesh Bank on 20 March 2016. During his 34 years in the Bangladesh Civil Service, he held key positions in different ministries. He served as the Deputy Commissioner and District Magistrate of Kishoreganj district, Joint Secretary in the Ministry of Education, Director General of the National Academy for Planning and Development, Director General of the BCS Administration Academy, Secretary Ministry of Railways and Secretary Finance Division of the Ministry of Finance. His Excellency also served as a Director in the Board of Directors of state-owned commercial bank, Janata Bank Limited between 2008 and 2010, and Bangladesh Bank from 2012 to 2014. Prior to joining Bangladesh Bank as Governor, he held the position of Chairman of the Board of Directors of the largest commercial bank of Bangladesh, Sonali Bank Limited. His Excellency has a B.A. (Honours) and Master’s Degree from the Department of Economics of the University of Chittagong.
The 31st Meeting of the IFSB Council is followed by the 16th Islamic Financial Stability Forum.