One of the managers of the Nigerian economy has been honoured with a massive international job in the banking industry.
Godwin Emefiele
The Governor of the Central Bank of Nigeria, Godwin Emefiele, has
been elected as the Chairman of the International Islamic Liquidity
Management Corporation. He was elected on Thursday in Jakarta,
Indonesia.
By this development, Emefiele had also become the head of the
general assembly of the financial body comprising nine countries and the
Islamic Development Bank, with headquarters in Kuala Lumpur, Malaysia.
The International Islamic Liquidity Management Corporation is a
global institution established by central banks, monetary authorities
and multilateral organisations to create and issue short-term
Shariah-compliant financial instruments to facilitate effective
cross-border Islamic liquidity management.
By creating more liquid Shariah-compliant financial markets for
institutions offering Islamic financial services, the IILM aims to
enhance cross-border investment flows, international linkages and
financial stability.
The body’s major mandates include developing a robust Islamic
liquidity management as a catalyst for cross-border financial linkages
and facilitating effective cross-border liquidity management instruments
for institutions that offer Islamic financial series.
The organisation is also charged with the responsibility of
enabling a future global finance industry with greater connectivity,
stability and sophistication.
The current shareholders comprise of central banks and monetary
authorities of Indonesia, Kuwait, Luxembourg, Malaysia, Mauritius,
Nigeria, Qatar, Turkey, the United Arab Emirates and the Islamic
Development Bank.
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