The Governor of Da Afghanistan Bank has travelled to Rabat, Morocco, leading a delegation to attend the annual Islamic Financial Services Board (IFSB) summit, scheduled for July 1–3 under the auspices of Bank Al-Maghrib, Morocco’s central bank.

The gathering, hosted by the IFSB—a Malaysia-based international body established in 2002 to promote the stability of Islamic financial services—will bring together central bank leaders, regulators, and financial experts from across the Islamic world.

The Rabat conference will focus on critical issues, including improving transparency in Islamic banking, strengthening financial stability, and fostering global cooperation among Islamic financial institutions. Discussions are also expected to explore digital innovation, sustainable finance, and ways to boost financial inclusion in underserved regions. The IFSB, with 188 members including 85 regulatory authorities and 95 financial institutions, sets global standards for Islamic banking, insurance (takaful), and capital markets, overseeing an industry worth over $4 trillion.

Afghanistan’s attendance is seen as a strategic move to advance its Islamic banking sector, which is gaining traction domestically. The delegation aims to strengthen ties with global Islamic financial bodies, potentially unlocking investment and expertise to support the country’s economy. Afghan officials expressed hope that the summit will enhance the reach of Islamic financial services, particularly for small businesses and rural communities.

The IFSB summit is a key platform for shaping the future of Islamic finance, offering opportunities to share expertise, build partnerships, and drive initiatives for financial stability and inclusion across member states. Afghanistan’s participation highlights its ambition to align with international standards while addressing domestic economic challenges through Islamic finance principles. (ILKHA)