Russian DIA becomes a member of the Islamic Financial Services Board (IFSB)

On December 22, 2024, the State Corporation “Deposit Insurance Agency” (DIA) was admitted to the Islamic Financial Services Board (IFSB) as an observer member. DIA representatives will be able to participate in IFSB working groups, practical workshops, and research projects, as well as collaborate with other Board members on the development of Islamic finance and the insurance of Islamic deposit products.

As of the beginning of 2025, the Board included 193 members from 60 countries.

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The IFSB is an international organization that brings together regulatory and supervisory authorities ensuring the stability of the provision of Islamic financial services. The organization was established in 2002, with its headquarters in Kuala Lumpur, Malaysia. It issues standards, guiding principles, and technical recommendations on matters of Islamic finance.