The Islamic Financial Services Board (IFSB) concluded its 47th Council Meeting in Marrakesh, approving a Guidance Note on Climate-Related Financial Risks for Institutions Offering Islamic Financial Services in the banking segment and agreeing a new structure for the IFSB Technical Committee to enhance sectoral representation. The Council also endorsed support for the IFSB Technical Assistance programme in 2026 and backed ongoing governance reforms at the Secretariat. The West African Monetary Agency and the Bank of Ghana joined the IFSB as new Associate members. From 1 January 2026, Khalid Ebrahim Humaidan, Governor of the Central Bank of Bahrain, will assume the IFSB chairmanship, with Olayemi Cardoso, Governor of the Central Bank of Nigeria, as deputy chairman. The Secretariat also flagged preparations for the 17th IFSB Summit in Oman in February 2026, with priorities including resilient Sukuk markets, support for non-bank financial institutions, and integration of financial inclusion, technology and climate considerations into Islamic finance regulatory frameworks.
Islamic Financial Services Board 2025-12-10
Islamic Financial Services Board approves climate-related financial risk guidance and names Central Bank of Bahrain governor as 2026 chairman
The Islamic Financial Services Board (IFSB) concluded its 47th Council Meeting, approving a Guidance Note on Climate-Related Financial Risks for Islamic financial institutions and restructuring the IFSB Technical Committee. The Council endorsed the 2026 Technical Assistance programme and ongoing governance reforms, welcoming the West African Monetary Agency and the Bank of Ghana as new Associate members. Khalid Ebrahim Humaidan will assume the IFSB chairmanship in 2026, with Olayemi Cardoso as deputy chairman, as preparations for the 17th IFSB Summit in Oman are underway.