Rabat. The Bank of Tanzania (BoT) participated in the Annual General Meeting of the Islamic Financial Services Board (IFSB), which took place in Rabat, Morocco, from July 1 to 4, 2025.
BoT Deputy Governor, Sauda Msemo, led the Tanzanian delegation at the international gathering, which brought together senior representatives from over 80 member jurisdictions of the IFSB, including central bank governors, finance ministers, and top executives from Shariah-compliant financial institutions.
During the conference, Ms Msemo held bilateral engagements with the IFSB leadership, including the Secretary-General, Dr Ghiath Shabsigh, to deliberate on strategic matters surrounding the global growth of Islamic financial services.
The discussions centred on enhancing regulatory frameworks, embracing digital innovation, and fostering international collaboration to ensure the long-term sustainability and resilience of Islamic finance.
Established in 2002 and headquartered in Malaysia, the IFSB is a globally recognised standard-setting organisation for the Islamic financial services industry. Its membership comprises more than 190 entities, including central banks, financial supervisory authorities, Islamic financial institutions, and international development organisations.
The Board’s core mandate is to develop and promote robust regulatory and supervisory standards that support the soundness and stability of institutions offering financial services in conformity with Shariah principles.
The 2025 conference served as a vital platform for assessing the progress of Islamic finance globally, identifying emerging challenges, and exploring future opportunities within the sector.
For Tanzania, the meeting underscored the strategic importance of aligning domestic financial development with international standards, while reinforcing the country’s aspirations to establish itself as a credible player in the Islamic finance ecosystem.
The BoT’s participation in the IFSB conference reflects its commitment to building a resilient, inclusive, and diversified financial system, underpinned by sound policy frameworks and active engagement with global financial governance institutions.
