By Fredrick Ameh
The Islamic Financial Services Board (IFSB), Ghiath Shabsigh, has expressed readiness to support the Central Bank of Nigeria (CBN) through technical assistance, capacity building, and policy guidance.
The Bank made this known on the sidelines of the IMF and World Bank Spring Meetings in Washington, D.C.
Speaking, the CBN Governor, Olayemi Cardoso who held a strategic meeting with the Secretary-General of the IFSB said the high-level engagement focused on deepening collaboration between Nigeria and the IFSB to advance the development of Islamic finance, financial stability, and regulatory standards within the Nigerian financial system.
Cardoso reaffirmed the CBN’s commitment to fostering a resilient and inclusive financial ecosystem, noting that Islamic finance remains a critical component in expanding access to ethical and non-interest banking services.
He emphasized the apex bank’s ongoing reforms aimed at strengthening regulatory frameworks and promoting investor confidence.
In his remarks, Shabsigh commended Nigeria’s progress in adopting global standards for Islamic finance and expressed the IFSB’s readiness to support the The Islamic Financial Services Board (IFSB), Ghiath Shabsigh, has expressed readiness to support the Central Bank of Nigeria (CBN) through technical assistance, capacity building, and policy guidance.
through technical assistance, capacity building, and policy guidance.
He highlighted the importance of aligning Nigeria’s financial system with international best practices to enhance competitiveness and attract investment.
Both parties agreed to sustain engagement and explore new opportunities for cooperation, particularly in strengthening institutional capacity and promoting sustainable finance initiatives.