CBN governor appointed as International Islamic Liquidity Management Corporation chairman

The International Islamic Liquidity Management Corporation (IILM), has appointed Central Bank of Nigeria (CBN) governor, Godwin Emefiele, as chairman of its governing board and head of its general assembly.

IILM governing 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 be chairman for a term of one year.

“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.

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.

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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