The Bank of Tanzania (BoT) has joined financial institutions from around the world at the Annual General Meeting of the Islamic Financial Services Board (IFSB), held in Rabat, Morocco, from July 1 to 4, 2025.

Leading the Tanzanian delegation was Deputy Governor Sauda Msemo, who represented the country at the high-profile gathering that drew participants from more than 80 IFSB member nations. Among them were central bank governors, finance ministers, and senior executives from financial institutions that operate in line with Shariah principles.

While in Rabat, Ms. Msemo met with IFSB Secretary-General Dr. Ghiath Shabsigh and his leadership team. Their discussions focused on strategic priorities for the growth of Islamic financial services, sharing experiences on effective regulatory frameworks, exploring digital innovation, and fostering international cooperation to strengthen the sector.

Headquartered in Malaysia, the IFSB is a global body with over 190 members, including central banks, financial regulators, Islamic financial institutions, and international development agencies. Its mission is to set regulatory standards and best practices for Shariah-compliant financial institutions worldwide.

This year’s meeting once again provided a vital platform for addressing the latest trends, challenges, and opportunities in Islamic finance—an area in which Tanzania is steadily strengthening its presence through robust policies and global partnerships.