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 the International Day for Disaster Risk Reduction, observed annually on 13 October, the Organization of Islamic Cooperation (OIC) joins the international community in expressing solidarity with all victims of natural and human-made disasters around the world.
This year’s theme, “Fund Resilience, Not Disasters,” highlights the urgent need to invest in resilience-building and preventive measures rather than in post-disaster recovery.
The OIC underscores that disasters continue to impose heavy human and economic costs, severely affecting socio-economic development and posing existential threats to vulnerable communities across many of its Member States.
With several Member States frequently impacted by floods, epidemics, earthquakes, landslides, storms, and droughts, the OIC places high priority on disaster prevention and management, as emphasized in its Ten-Year Program of Action 2025.
Reaffirming its commitment, the OIC calls for stronger partnerships among Member States, international organizations, and local communities to develop effective strategies that enhance preparedness, reduce vulnerabilities, and improve recovery capacities.
“As disasters become more frequent and intense due to climate change and other global challenges, we must act collectively and decisively to build resilience and protect lives,” said H.E. Mr. Hissein Brahim Taha, Secretary-General of the OIC. “Investing in prevention today will save countless lives and resources tomorrow.”
The OIC also stresses the need to accelerate the implementation of the Sendai Framework for Disaster Risk Reduction, in line with national disaster management strategies and priorities.