Looking ahead, the chairman of the IFSB executive committee will continue to direct the transformation process towards the IFSB policy, organization and human capital.
Jakarta (ANTARA) - Bank Indonesia (BI) Governor Perry Warjiyo was re-elected by acclamation as the International Financial Services Board (IFSB) Executive Committee Chairman for the 2021-2022 term.

Warjiyo was re-elected to the post at the 37th IFSB Council Meeting held virtually, Chief of the BI Communication Department Erwin Haryono noted in a statement released on Friday.

The BI governor, along with nine other council members, will continue the IFSB strategic transformation and play a role as the council's strategic partners in discussing the strategic framework and governance aspect of the IFSB, Haryono remarked.

In his previous term of office in 2019-2020, the BI governor had produced a strategic framework and business plan, new governance structure and process, and performance-based compensation framework.

"Looking ahead, the chairman of the IFSB executive committee will continue to direct the transformation process towards the IFSB policy, organization, and human capital," he remarked.

Central bank governors and financial service authority commissioners from Indonesia, Malaysia, Saudi Arabia, the United Arab Emirates, Pakistan, and Nigeria, as well as the Islamic Development Bank (IDB) participated in the IFSB Council Meeting.

The meeting specifically discussed a wide array of issues pertaining to financial and economic stability in response to the COVID-19 pandemic.

At the meeting, Warjiyo highlighted three key roles played by the sharia-compliant economy and finance in addressing impacts of the COVID-19 pandemic on the Indonesian economy.

The roles were related to intensifying coordination in the policy mix, empowering sharia financial and social instruments -- wakaf, infaq, and alms -- and improving the role of the halal industry in reviving public demand that had dipped owing to the social distancing policy. Related news: New digital-based MSMEs to become source of economic growth: Governor
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Translator: Satyagraha/Suharto
Editor: Rahmad Nasution
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