Islamic financial services board to be based in KL

MALAYSIA - Malaysia will host the Islamic Financial Services Board (IFSB), which is tasked with setting international prudential standards for Islamic financial instruments, and Bank Negara Malaysia governor Tan Sri Dr Zeti Akhtar Aziz has been appointed as chairman of its steering committee.

A group of governors and senior officials of central banks, the Islamic Development Bank (IDB), and the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) had got together du