26 November 2013, Bank of Mauritius
Kuala Lumpur/Port Louis, 26 November 2013 - The Islamic Financial Services Board (IFSB) announced that it will be organising its 11th Annual Summit on 21 & 22 May 2014 in Mauritius, which the Bank of Mauritius is hosting. This is the first time the IFSB Summit will be held in the African continent.
The Memorandum of Understanding was signed between Bank of Mauritius and the IFSB signifying the cooperation and commitment of both parties in ensuring the success of this landmark annual event. Bank of Mauritius is a Full and Council member of the IFSB since 2007.
The Annual IFSB Summits aim to bring together an experienced international group of chairpersons and speakers, attracting participants from all sectors of the financial services industry across the globe. Participants of the previous Summits have included key players of the Islamic financial services industry, especially members of the IFSB from among regulatory and supervisory authorities, international inter-governmental organisations and market players.
More information about this 11th IFSB Summit will be announced in due course. Enquiries on participation and sponsorship opportunities can be sent to ifsb_sec@ifsb.org.
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NOTE TO EDITOR:
About the Islamic Financial Services Board (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. The IFSB also conducts research and coordinates initiatives on industry-related issues, as well as organises roundtables, seminars and conferences for regulators and industry stakeholders. Towards this end, the IFSB works closely with relevant international, regional and national organisations, research/educational institutions, thought leaders and market players.
The members of the IFSB comprise regulatory and supervisory authorities, international intergovernmental organisations and market players, professional firms and industry associations.
For more information about the IFSB, please visit www.ifsb.org.
About the Bank of Mauritius (BOM)
The Bank of Mauritius was established in September 1967 as the Central Bank of the country. It was modelled on the Bank of England and was, in effect, set up with the assistance of senior officers of the Bank of England. The setting up of the Bank of Mauritius marked the beginning of a new phase in the monetary history of Mauritius, with the monetary system moving forward from the stage of 'Sterling Exchange Standard', under which currency was issued in exchange for sterling at a fixed rate of exchange, to that of a 'managed currency' in which the discretionary role of the monetary authority becomes important. The Bank has been set up as the authority which is responsible for the formulation and execution of monetary policy consistent with stable price conditions. It also has responsibility for safeguarding the stability and strengthening of the financial system of Mauritius. For more information on BOM, please visit www.bom.mu.
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