The Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, has been appointed Chairman, Governing Board and Head of the General Assembly, of the International Islamic Liquidity Management Corporation, IILM.
Inside sources in the Presidency, have disclosed that President Muhammadu Buhari, on getting to know about the appointment, was elated.
The Board according to news reports, is currently holding its Annual Meeting in Jakarta, Indonesia.
The Governor, who until his appointment was the Deputy Chairman of the Corporation, succeeds Agus D.W. Martowardojo, the Governor of the Bank of Indonesia.
Although, the Chairmanship is for a term of one year, Emefiele, had while reacting to the announcement said, “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.”
The board is a strategy and policy making body of the IILM, which creates and issues short-term Shari’ah compliant financial instruments, to facilitate effective cross-border Islamic liquidity management, and was founded in 2010, with its headquarter in Kuala Lumpur, Malaysia.
Presently, the current shareholders are from the Central Banks and Monetary Agencies of Indonesia, Kuwait, Luxembourg, Malaysia, Mauritius, Nigeria, Qatar, Turkey, the United Arab Emirates, UAE, and the Islamic Development Bank.
The membership of 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.
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