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.
On May 12, 2018 Chinese delegation headed by Hasan Yang Fa Ming, Chairman of Islamic Union of China visited Muslim Board of Uzbekistan. The guests were received by Sheikh Abdulaziz Mansur, Deputy Chairman of Muslim Board of Uzbekistan who opened the meeting with introductory speech about positive development in the religious sphere in our country.
In its turn Mr. Hasan Yang Fa Ming noted that there were more than 50 different nationalities living in China, among 30 million Muslims in China there were Uzbek, Uyghur, Huey, Kazak, Tatar, Tajik, Dunsyan, Salar, Boan and other nationalities. Almost half of Chinese live in Sinzhan-Uygur autonomous region. There are 30 thousand mosques and 10 Islamic educational establishments. Chinese government pays equal attention to all religious representations and their activity is coordinated by the Committee for religious affairs. Islamic religious organizations are run by Chinese Islamic Association. This organization has more than 70 employees. Fetwas (religious relics) are based on Hanafi mazkhab with Moturidi creed. 99% of Chinese Muslims follow Hanafi mazkhab. Mr. Hasan Yang also mentioned that Chinese Muslims were pleased to see Uzbek delegation in the International Islamic Symposium held in Urumchi in 2016. The Chairman of Islamic Union of China expressed his gratitude for the warm reception, showed his readiness for partnership and cordially invited Muslim Board of Uzbekistan to visit China.
Nuriymon Abulhasan, Deputy Chairman of the Committee for the Religious Affairs and Firdavs Halilov, Deputy Director of the Center for Islamic Civilization also made informative speeches about the scope of activities carried out in the religious sphere.
The sides exchanged with gifts.
Press Service,
Muslim Board of Uzbekistan.