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Monday, 17 September 2007

Bank of Japan an observer of IFSB

The Bank of Japan (BOJ) has been invited to become an observer member of the Kuala Lumpur-based Islamic Financial Services Board (IFSB.) Japan's central bank was permitted to join IFSB "to enhance its understanding of the latest movements in Islamic finance, which has increasingly become influential," BOJ announced on Friday. IFSB is a standard-setting body for transactions consistent with Islamic jurisprudence, which promotes and enhances the soundness and stability of the Islamic financial services industry. The supervisory body consists of 20 full members, 14 associates, and 101 observers. - (PT, 14 Sep 07)

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