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IFSB General Assembly appoints chairman and deputy chairman for 2009

Hamad Al-Sayari, Governor of the Saudi Arabian Monetary Agency appointed as the 7th Chairman of the General Assembly of the Islamic Financial Services Board (IFSB) for the annual term 2009.

- Dr. Sabir Mohamed Hassan, Governor of the Central Bank of Sudan appointed as Deputy Chairman.

Jeddah, March 26, 2008 – In its 6th meeting held at the Islamic Development Bank’s (IDB) headquarters in Jeddah, the General Assembly of the Islamic Financial Services Board (IFSB) resolved to appoint H.E. Hamad Al Sayari, Governor of the Saudi Arabian Monetary Agency as the next Chairman of the IFSB General Assembly for a one year term effective 1st January 2009. The General Assembly also appointed H.E. Dr. Sabir Mohamed Hassan, Governor of the Central Bank of Sudan as Deputy Chairman of the General Assembly for the same period.

Hamad Al Sayari will be the 7th Chairman of the IFSB General Assembly, and will replace the current chairperson, Dr. Shamshad Akhtar, Governor of the State Bank of Pakistan whose term ends 31st December 2008.

The Chairmanship of the IFSB is on an annual rotational basis from among the Full members who are also Council members, as specified in the IFSB Articles of Agreement.

Siham Ismail
Islamic Financial Services Board
Kuala Lumpur, Malaysia
Tel: + 603 2698 4248 ext 119
Email: siham@ifsb.org

About the IFSB:
The IFSB is an international standard-setting organisation that promotes and enhances the soundness and stability of the Islamic financial services industry by issuing global prudential standards and guiding principles for the industry, broadly defined to include banking, capital markets and insurance sectors.

Earlier in the day, the IFSB Council admitted 14 new members to the IFSB membership, bringing the total members of the IFSB General Assembly to 164 organisations.

For full members list or more information, please visit www.ifsb.org

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