The IFSB to Organise Facilitating the Implementation of Standards Workshops for Islamic Capital Market, Takāful and Banking Regulators
Date posted: 14 September 2017
Kuala Lumpur, 14 September 2017 – The Islamic Financial Services Board (IFSB) is pleased to announce that it will be organising the annual Facilitating the Implementation of Standards (FIS) Workshops for the Islamic Capital Market (ICM), Takāful and Banking sectors, in October and November 2017 in Kuala Lumpur, Malaysia. The workshops are designed for the staff of regulatory and supervisory authorities from the IFSB’s member countries.
The objectives of the Workshops are to enhance the participants understanding of the IFSB’s Standards and Guiding Principles applicable to each sector, thereby improving their capabilities to implement these Standards in their respective jurisdictions. The Workshops aim to assist the participants in the practical application of the issues addressed in the IFSB standards through case studies, group exercises, and other interactive tools; and to promote the sharing of experiences among regulators and market players on the implementation of the respective IFSB Standards.
These Workshops, which are being annually organised at the IFSB headquarters since 2010, also intend to serve as a Train the Trainer programme for the staff of regulatory and supervisory authorities.
Details of the Workshops are as follows:
1) FIS Workshop for the ICM Sector on 10 – 12 October 2017, Kuala Lumpur
Among the topics and sessions which will be covered in this Workshop are: Introduction to ICM, Sukūk and Securitisation as part of the Revised Capital Adequacy Standard for IIFS (IFSB-15), Guiding Principles on Governance for Islamic Collective Investment Schemes (IFSB-6) and Guiding Principles on Sharīʻah Governance Systems for IIFS (IFSB-10). The newly issued Standard of Guiding Principles on Disclosure Requirements for ICM Products (IFSB-19) will also be deliberated during the 3-day workshop.
2) FIS Workshop for the Takāful Sector on 10 – 12 October 2017, Kuala Lumpur
This Workshop for the Takāful sector will cover three IFSB standards and an introductory session on Takāful Models and Features. The IFSB Standards covered are: Risk Management for Takāful Undertakings (IFSB-14), Guiding Principles on Governance for Takāful Undertakings (IFSB-8) and Guiding Principles on Sharīʻah Governance Systems (IFSB-10). The participants will also have the opportunity to listen to other countries’ experiences and practices in supervising Takāful and Retakāful industry.
3) FIS Workshop for the Banking Sector on 13 – 17 November 2017, Kuala Lumpur
This workshop will focus on latest IFSB Standards that complement the Basel III framework as well as several other guidelines. Four IFSB Standards will be discussed in this Workshop including: Core Principles for Islamic Finance Regulation (Banking Segment) (IFSB-17), Revised Capital Adequacy Standard for IIFS (IFSB-15), Guidance Note on Quantitative Measures for Liquidity Risk Management (GN-6) and Guiding Principles on Sharīʻah Governance Systems for IIFS (IFSB-10). In addition, a special session on Experience Sharing on the IFSB Standards’ Implementation will also be held in this Workshop.
The IFSB invites all regulatory and supervisory authorities from among the IFSB member organisations to participate in these Workshops. For more information on the Workshops, please visit www.ifsb.org or contact Mr. Hamizi Hamzah at firstname.lastname@example.org.
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