IFSB names Al Amin, Prudential as members

The Islamic Financial Services Board (IFSB), a group of financial institutions and central banks that sets banking standards complying with Muslim principles, added four lenders and insurance companies to its ranks.

The IFSB said the National Bank of Tajikistan, Prudential Hong Kong, along with Malaysia-based OCBC Al Amin Bank and the Islamic reinsurance unit of Germany's Munich Re will join as "observer" members, according to a statement.