Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), has been appointed chairman of the governing board and head of the general assembly of the International Islamic Liquidity Management Corporation (IILM).
The board is currently holding its annual meeting in Jakarta, Indonesia.
Emefiele, who was until now the deputy chairman, succeeds Agus D.W. Martowardojo, the governor of the Bank of Indonesia.
He will chairman for a term of one year.
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“I thank members of the governing board for the confidence in Nigeria and pledge that under my leadership, IILM will continue to vigorously pursue and attain its objectives,” he said on Friday after his appointment.
The governing board is the strategy and policy making body of the IILM.
IILM, which creates and issues short-term Shari’ah-compliant financial instruments to facilitate effective cross-border Islamic liquidity management, was founded in 2010 with headquarters in Kuala Lumpur, Malaysia.
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The current shareholders are from the central banks and monetary agency of Indonesia, Kuwait, Luxembourg, Malaysia, Mauritius, Nigeria, Qatar, Turkey, the United Arab Emirates and the Islamic Development Bank.
Membership of the IILM is open to central banks, monetary authorities, financial regulatory authorities or government ministries or agencies that have regulatory oversight of finance or trade and commerce, and multilateral organisations, according to information on its website.
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