The Arab Monetary Fund (AMF) and the Islamic Financial Services Board (IFSB) have signed a Memorandum of Understanding to establish a Strategic Partnership Framework to strengthen cooperation in advancing Islamic finance regulation, financial resilience, and sustainable financial and economic development across the Arab region.
The partnership agreement was signed by Dr Fahad Alturki, Director General and Chairman of the Board of the Arab Monetary Fund, and Dr Ghiath Shabsigh, Secretary-General of the IFSB. The agreement formalises a strategic collaborative framework in four key areas: policy advice, capacity development, knowledge sharing and research, and analytical support for the AMF’s regional engagements and initiatives.
Aligned with both organisations’ strategies, the IFSB Strategic Plan 2025–2027, and the AMF Strategy 2025-2030, the agreement enhances both institutions’ ability to deliver technical assistance, support the adoption of global prudential standards, and facilitate the development of robust, sound, and inclusive Islamic finance sector in the region. It also builds on previous cooperation between the two institutions, expanding their joint efforts to address evolving sectoral challenges through structured and scalable engagement.
“This marks an important strategic step in strengthening our regional engagement platform. The IFSB and AMF bring complementary mandates to the table, and this partnership enables more cohesive and impactful delivery of financial sector policy advice and development support to the Arab region,” said Dr Shabsigh.
“ With the growth of Islamic Finance (IF) in our region to be of systemic importance and in line with our new strategy where financial stability is key for economic resilience and prosperity, this strategic partnership will allow both institutions to coordinate policy advice and capacity-building efforts aimed at strengthening the resilience and growth of the IF industry, ultimately maximizing our joint impact,” said Dr Alturki.
This partnership reaffirms a shared commitment to supporting regional financial development through targeted policy dialogue, technical cooperation, and applied research.