Eurasian Development Bank joined as an associate member of the Islamic Financial Services Board (IFSB). This happened at the 45th meeting of the Council, held in Djibouti on December 22. The event was chaired by the Governor of the Central Bank of Djibouti, H.E. Ahmed Osman Ali.

The EDB joined the prestigious cohort of new member organizations, which includes the Central Bank of Uzbekistan and Suriname, as an associate member.

“Our cooperation with the IFSB will enable us to utilize our experience in promoting Islamic finance in the region and become part of the global Islamic banking network. Our Bank is ready to contribute to the IFSB's mission to strengthen the stability and sustainability provided by the Islamic financial services industry, including joint implementation of initiatives to enhance knowledge sharing and cooperation,” commented Nikolay Podguzov, Chairman of the EDB's Board of Directors

Key personnel decisions were also made at the Board meeting. H.E. Abdellatif Jouari, Governor of Bank Al Maghreb (Morocco), became the IFSB's Chairman for 2025, and Dr. Perry Warjiyo, Governor of Bank Indonesia, became his deputy. The IFSB Executive Committee was chaired by the Governor of Central Bank of Malaysia, Datuk Shaik Abdul Rashid Gaffour for the period 2025-2026.

“The IFSB Secretariat welcomes the new leadership of the Board and Executive Committee and looks forward to working together to fulfill the IFSB's mandate,” said IFSB Secretary General Dr. Giat Shabsig.

Also approved was the establishment of a donor funding account to further support capacity development programs in participating jurisdictions. It is noted that the IFSB is committed to strengthening the Islamic financial services infrastructure globally.