CBN Governor Emefiele Emerges as Chairman of Global Islamic Bank

Godwin Emefiele, the Governor of the Central Bank of Nigeria (CBN), has just been elected as the Chairman of the International Islamic Liquidity Management Corporation.

His election was ratified on Thursday in Jakarta, Indonesia.

This has now made Emefiele the head of the general assembly of the financial body which comprises nine countries and the Islamic Development Bank, with its headquarters in Kuala Lumpur, Malaysia.

The body which Emiefile now heads, the International Islamic Liquidity Management Corporation is a global institution which is established by central banks, monetary authorities and also some multilateral organizations in a bid to create and issue short-term Shariah-compliant financial instruments to facilitate effective cross-border Islamic liquidity management.

The International Islamic Liquidity Management Corporation majorly aims to enhance cross-border investment flows, international linkages and financial stability by creating more liquid Shariah-compliant financial markets for institutions offering Islamic financial services.

The shareholders of the body are banks from Indonesia, Kuwait, Luxembourg, Malaysia, Mauritius, Nigeria, Qatar, Turkey, the United Arab Emirates and the Islamic Development Bank.

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