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Train of Trainers (ToT) Program

Train of Trainers (TOT) program is intended to engage master trainers, who are highly skilled and have a throughout understanding in IFSB standards, in coaching new trainers who are less experienced with IFSB standards.

The program will be structured to produce two outputs:

• To create Subject Matter Experts (SMEs) in IFSB standards.
• To create Resident Implementation Consultant (RIC).

The TOT Program will drive implementation of IFSB standards, increase efficiency and provide customized consultations and solutions to IFSB member Regulatory and Supervisory Authorities (RSAs).

How ToT Works

It is part of the IFSB's mandate to support and facilitate the implementation of its standards. Hence, the IFSB Secretariat provides member Regulatory and Supervisory Authorities (RSAs) with a wide range of implementation support to facilitate the implementation of the IFSB standards. The following are some of the implementation support initiatives and tools extended to support member RSAs:

• Facilitating the Implementation of the IFSB Standards (FIS) Workshop;
• Technical Assistance (TA);
• Policy Advice (PA);
• E-workshops;
• E-learning;
• Implementation Guidelines; and
• Impact and Consistency Assessment Program (ICAP)

With over 187 members from 57 jurisdictions including 79 RSAs with rapid growth in total Islamic Finance assets across all sectors, meeting the members demand and expectations in terms of capacity building to enable them implement IFSB standards becomes a top priority for the IFSB.

This priority includes the extension and expansion of the implementation support all members in a most efficient and effective manner. To expand the implementation support to members, the IFSB Secretariat is establishing a roster for highly skilled Subject Matter Experts (SMEs) from among staff of member RSA institutions and independent external experts to be involved in IFSB Implementation Support missions in member jurisdictions. SMEs will undertake short term assignments and will provide their expertise to assist member RSAs to implement IFSB standards.

Expected responsibilities:

• Facilitate the IFSB FIS workshops and other relevant events including the preparation of reports, proposals, and presentations;
• Conducts practical and strategic research to support the implementation of the IFSB’s standards;
• Support other IFSB implementation initiatives and tools with own technical expertise;
• Attend project related meetings, workshops, and events as required.
• Prepare policy recommendations and provide Technical Assistant on an agreed scope to support the implementation of IFSB Standards, effective regulation, Islamic Finance market growth and development in IFSB member’s jurisdiction.

Benefits of the ToT Program

1. To the IFSB RSA Members
• Developing in house Talent pool to support in-house Capacity Building and implementation of the IFSB Standards
• Efficient and economic response to Islamic Finance CB and Policy needs
• Customized solutions to address talent gaps
• Fast track to achieve high IFSB Standards implementation rates and address implementation challenges
2. To the Subject Matter Experts
• Learning from different countries experiences in developing Islamic finance and implementing IFSB Standards
• Having an in-depth exposure to policy making in Islamic finance in different jurisdictions
• Engaging with IFSB experts in charge of developing standards and providing implementation support to different jurisdictions