The Council's activities are aimed at developing international standards for the regulation and supervision of Islamic financial institutions, to implement effective corporate governance and risk management mechanisms, as well as to conduct research and capacity building of the staff in this field, and to assist member organisations in these matters.
Membership in this organization will enable the Central Bank to explore the experience of other countries and implement best international practices
in the regulation and supervision of Islamic financial institutions.
For reference: The Council was established in 2002 and is headquartered in Kuala Lumpur (Malaysia). Currently, the Council has 188 members, including 81 regulators and supervisors, 10 international intergovernmental organisations, 97 market participants. Also, the financial regulators of Kazakhstan, Kyrgyzstan and Tajikistan are members of the Council.
The Muslim Board of Uzbekistan hosted a meeting with a delegation from the Institute of Islamic Studies under Tun Hussein Onn University of Malaysia, led by its director Khairun Nizam.
The guests were welcomed by Deputy Chairman of the Muslim Board of Uzbekistan, Muhammadolim Muhammad Siddiqov, who congratulated them on their visit and briefed them on the structure and activities of the Board, particularly the Department of Education and Scientific Research.
The delegation expressed appreciation for the significant progress taking place in Uzbekistan in recent years in the fields of religion, culture, and tourism, and noted with admiration the establishment of the Center for Islamic Civilization, the reconstruction and beautification of the Imam al-Bukhari Complex, and the development of other higher religious educational institutions such as Mir Arab, Imam Maturidi, and Imam Termizi centers.
During the meeting, the sides discussed opportunities for mutual cooperation in education, academic research, and exchange of scholarly and cultural experience.
At the conclusion, both parties exchanged commemorative gifts, took group photographs, and wished each other continued success.
Muslim Board of Uzbekistan – Press Service