IFSB Annual Meetings 2026: Approved Governance Reform for Deeper Jurisdictional Engagement

Kuala Lumpur, MALAYSIA - 14 July 2026 - The Islamic Financial Services Board (IFSB) on Monday concluded its 48^th Council Meeting and 24^th General Assembly. The key outcome of the meetings was the approval of the revised IFSB Articles of Agreement and the By-Laws. The revisions focused on IFSB's mandates, roles and composition of its governance organs, and membership structure and benefits to deepen jurisdictional engagement.

In addition, the meetings also reviewed the IFSB's mid-term achievements under its Strategic Plan 2025-2027, focusing on key priorities including financial sector policy development, capacity development, membership engagement, and institutional reform.

Ongoing initiatives were highlighted to underscore the IFSB's commitment to strengthening financial stability, driving sustainable and inclusive economic growth, fostering the cross-border harmonisation of Islamic finance legislation while expanding the industry's global access.

Other matters approved at the meetings include:

• Admission of Two New Members: Malta Financial Services Authority (MFSA) and the International Islamic Liquidity Management (IILM) are admitted as new Observer members.
• New Sectoral Technical Committee (TC) Appointments: New nominations of members for the upcoming sectoral TC for Islamic capital markets and Islamic insurance were approved. This will provide a more effective representation of experts from each sector in IFSB technical work.
• IFSB Leadership for 2027: His Excellency Mr. Olayemi Cardoso, Governor of the Central Bank of Nigeria was announced as the IFSB Chairman for 2027, and His Excellency Prof. Dr. Şahap Kavcıoğlu, Chairman of Banking Regulation and Supervision Agency, Republic of Türkiye, as Deputy Chairman, effective 1 January 2027.

These governance meetings were held virtually and chaired by His Excellency Khalid Ebrahim Humaidan, Governor of the Central Bank of Bahrain (CBB) and Chairman of the IFSB Council for 2026.

For more information on the IFSB and its upcoming events, please visit https://www.ifsb.org or follow our updates on social media and the IFSB Pulse app.