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Morocco World
03-07-2025
- Business
- Morocco World
Jouahri: Strengthening International Cooperation Key to Advancing Islamic Finance
Rabat – Abdellatif Jouahri, Governor of Bank Al-Maghrib (BAM), Morocco's Central Bank, called on Thursday in Rabat for enhanced international cooperation to further develop Islamic finance globally. Speaking at the 23rd Forum on Islamic Financial Stability, which was organized by BAM and the Islamic Financial Services Board (IFSB) under the theme 'Overcoming Challenges: Addressing Structural Vulnerabilities and Building Resilience Against Future Shocks,' Abdellatif Jouahri highlighted the critical challenges facing the sector. He identified four main challenges: Sharia compliance, liquidity management, sustainable financing, and risks related to digitalization. Addressing these issues, Jouahri emphasized, requires a stronger international partnership that respects global standards while acknowledging each country's unique context. Jouahri affirmed the increasing integration of Islamic finance within the global financial system, noting that the principle-based regulatory approach allows countries to adapt standards according to their specific needs. Morocco, for instance, has established a centralized fatwa system supported by the Supreme Council of Ulemas to ensure Sharia compliance of financial products, thereby enhancing public trust. Read also: Islamic Financing in Morocco Hits $2.4 Billion in 2023, Driven by Real Estate In Morocco, participatory finance now represents 2% of banking assets. Since 2015, Bank Al-Maghrib has worked closely with stakeholders to build a regulatory, institutional, and fiscal framework conducive to the sector's growth. This collective effort has resulted in a clear governance architecture guided by a coherent roadmap and the active involvement of the Supreme Council of Ulemas. Jouahri also praised the pivotal role of the IFSB in standard-setting, fostering cooperation, and facilitating dialogue among regulatory authorities. He noted the board's impressive achievements since its inception in 2003 and highlighted ongoing reforms aimed at aligning its mission with emerging challenges, strengthening member institutions, and providing sustained technical support. Jouahri concluded by describing the forum as a valuable platform to anticipate future challenges, share practical experiences, and explore ways to enhance the resilience of the Islamic finance sector. The IFSB's annual assemblies and related events, held from July 1 to 3, brought together central banks, regulatory and supervisory authorities, and sector participants from IFSB member countries. Supported by Bank Al-Maghrib, these meetings included the 46th IFSB Council meeting, the 23rd General Assembly, and the 23rd Financial Stability Forum. Over 130 IFSB members participated, including senior representatives from central banks, regulatory and supervisory authorities, and multilateral institutions across the financial sector. Tags: Abdelatif JouahriBAMIslamic finance in morocco
Zawya
07-03-2025
- Business
- Zawya
Bank Al-Maghrib to host IFSB Annual Meetings and side events in Morocco
Kuala Lumpur, Malaysia – The Islamic Financial Services Board (IFSB) will hold its 2025 Annual Meetings, along with key industry side events. Hosted by Bank Al-Maghrib (Central Bank of Morocco), the 46th Council Meeting, 23rd General Assembly, and side events will take place from 1 to 3 July 2025 in Rabat, Morocco. IFSB's side events will engage IFSB members and other key players in Islamic finance, focusing on strengthening resilience and governance, addressing structural vulnerabilities, and facilitating the sharing of experiences. The programme includes: 23rd Islamic Financial Stability Forum, themed ' Fortifying Stability: Addressing Structural Vulnerabilities and Building Resilience in Islamic Finance ' Credit Rating Agencies Forum, themed ' Strengthening Transparency and Market Confidence: The Role of Credit Rating Agencies in Advancing Islamic Finance Markets ' Experience-sharing Sessions, featuring presentations from IFSB's members 2nd IFSB Consultative Group Meeting, featuring discussion on the ongoing work of the IFSB, emerging global regulatory priorities and areas of potential future standard-setting work of the IFSB Two (2) Industry Workshops, focusing on Liquidity Risk Management, Corporate Governance, and Shari'ah Governance Framework The IFSB 46th Council Meeting and 23rd General Assembly will be chaired by H.E. Abdellatif Jouahri, Governor of Bank Al-Maghrib and IFSB Chairman for 2025. These high-level meetings, bring together central bank governors, regulatory and supervisory agencies heads, international organisations, and industry leaders to discuss IFSB's strategic direction and ongoing works. The media is invited to attend and cover press conferences and side events. For enquiries, please contact the IFSB Secretariat at ifsb_sec@ and visit for more event and registration updates. About the Islamic Financial Services Board (IFSB) The IFSB is an international standard-setting organisation that promotes and enhances the soundness and stability of the Islamic financial services industry by issuing global prudential standards and guiding principles for the industry, broadly defined to include banking, capital markets and insurance sectors. The IFSB also conducts research and coordinates initiatives on industry-related issues, as well as organises roundtables, seminars and conferences for regulators and industry stakeholders. Towards this end, the IFSB works closely with relevant international, regional and national organisations, research/educational institutions and market players. The members of the IFSB comprise regulatory and supervisory authorities, international inter-governmental organisations and market players, professional firms and industry associations. For more information about the IFSB, please visit
