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Press Release > 2017

IFSB Members and Engagement Session during the IFSB Pre-Summit Events

Date posted: 23 October 2017

Abu Dhabi, 23 October 2017 – The Islamic Financial Services Board (IFSB) successfully organised a Members and Industry Engagement Session on 22 October in Abu Dhabi, United Arab Emirates. The Session is part of the IFSB’s efforts to reach out to its wide membership base, and provides an interactive platform in which IFSB member organisations and Islamic finance industry stakeholders engage with the IFSB on industry and regulatory related issues and concerns, and explore ways to address them. The session aims to provide inputs and feedback to the IFSB to ensure that the activities planned and conducted by the IFSB are of relevance and are in line with the needs of its stakeholders.

Mr. Zahid ur Rehman Khokher, Acting Secretary-General of the IFSB, in his presentation titled “The Global Islamic Finance Industry and the IFSB” shared a snapshot of the industry and the ongoing work of the IFSB in supporting the industry’s stability and resilience. He also acknowledged and commended the vital role played by the industry stakeholders in carrying out the work programme of the IFSB and shared IFSB’s vision to further enhance collaboration with the existing members.

An interactive panel discussion chaired by Prof. (em.) Dr. Volker Nienhaus, Honorary Professor, University of Bochum, Germany, and featuring Mr. Zahid ur Rehman Khokher, Dr. Nagwa Sheikh Eldin, Assistant Secretary-General, IFSB and Mr. Yusry Yusoff, Chief Executive Officer, Islamic Banking and Finance Institute Malaysia (IBFIM) followed.

Prof. (em.) Nienhaus started the session by emphasising the aim of the Session and shared his observations of current trends of the industry. The panellists then shared their perspectives in regard to capacity building, implementation levels of the IFSB standards, technical assistance, financial disrupters, and the bigger role to be played by industry players in the work and activities of the IFSB. The session ended with queries and feedback between the participants and panelists.

The Engagement Session was held on 22 October 2017 at The St. Regis Hotel Abu Dhabi, in conjunction with the IFSB Summit 2017. It was attended by key global Islamic financial services industry leaders, from among regulatory and supervisory authorities and financial institutions, representatives from international multilaterals, as well as the local United Arab Emirates financial community.

The IFSB Summit 2017 themed, “Reinvigorating the Momentum of Islamic Finance: Solidifying Resilience and Sustaining Growth”, will be held on 23 and 24 October 2017 at The St. Regis Abu Dhabi, under the auspicious hosting of the Central Bank of United Arab Emirates.

More information on the IFSB Summit 2017 is available at: http://www.ifsbsummit2017.com.

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