Kuala Lumpur, 18 November 2011 – The Council of the Islamic Financial Services Board (IFSB) has yesterday resolved to admit seven organisations into the IFSB membership. An international inter-governmental organisation, two supervisory authorities, two financial institutions and two professional firms have been admitted as Associate and Observer Members.

JAKARTA, July 19 (Bernama): The main challenge now for the International Liquidity Management Corporation (IILM), perhaps, is to find the most common denominator among the jurisdictions for the global Islamic finance market, said Chief Executive Officer Mahmoud AbuShamma.

This year’s 8th annual summit of the Islamic Financial Services Board (IFSB), scheduled to be held at the New Conference Centre Kirchberg in Luxembourg on May 10-13, is already making an impact.

In October 2010, KPMG wrote about the new agenda for Islamic finance institutions globally and three months on, we would like to examine how the industry has fared specifically on a number of areas that were discussed.

THE International Islamic Liquidity Management Corp (IILM) is expected to issue its first commercial papers by the end of the year, said Bank Negara deputy governor Datuk Mohd Razif Abdul Kadir.

BI has also secured approval from the House of Representatives to join the newly established International Islamic Liquidity Management.