Mohammad Faiz new Islamic Finance Consultative Group Chairman
Published on: Wednesday, August 31, 2016
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Kuala Lumpur: The International Accounting Standards Board (IASB) has appointed Datuk Mohammad Faiz Azmi as chairman of the Islamic Finance Consultative Group.PwC Malaysia Executive Chairman, he previously served as Chairman of the Malaysian Accounting Standards Board (MASB), and is the current President of the Malaysian Institute of Accountants (MIA).

In a joint statement, MASB and MIA said Mohammad Faiz had been a member of the Islamic Finance Consultative Group since its establishment in 2013.

Commenting on his appointment, Mohammad Faiz said he hoped to be able to continue the good work of the IASB in the area of global finance.

"I appreciate IASB's commitment in helping the emerging markets adopt their International Financial Reporting Standards (IFRS).

"This appointment is also, I believe, a recognition by the IASB of Malaysia, and in particular the MASB's, hard work and commitment to develop Islamic Finance," he added.

IASB Chairman Hans Hoogervorst said Mohammad Faiz had always been a valued member of the IFRS community and is renowned for his expertise in Islamic Finance.

He said the Islamic Finance Consultative Group plays a valued role in advising the IASB on challenges that may arise when IFRS Standards were applied to Islamic financial instruments and transactions.

"I look forward to working with the group in the coming years," he added. – Bernama



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