The IFSB Organises Workshop on Banking Standards in Egypt

Kuala Lumpur, 8 March 2015 – The Islamic Financial Services Board (IFSB) is organising a Facilitating the Implementation of the IFSB Standards (FIS) Workshop in Cairo, Egypt on 26 – 27 March 2015. This Workshops is hosted by the Egyptian Banking Institute.

The 3-day Workshop will focus on IFSB-1: Guiding Principles of Risk Management for Institutions offering Islamic Financial Services (IIFS) and IFSB-15: Revised Capital Adequacy Standard for IIFS.

IFSB-1 provides a set of guidelines of best practice for establishing and implementing effective risk management in IIFS. It sets out 15 principles for managing the risks inherent in Sharī`ah-compliant financial activities. It also provides specific guidance for six categories of risk, credit risk, equity investment risk, market risk, liquidity risk, rate of return risk and operational risk.

IFSB-15, for its part, seeks to assist in the implementation of a capital adequacy framework that facilitates effective coverage of risk exposures of the IIFS in addition to an appropriate allocation of capital, based on a Standardised approach, to cover these risks. More specifically, this IFSB-15 provides guidance on the features and criteria for high-quality regulatory capital components, including Additional Tier 1 and Tier 2 Capital in a manner that complies with Sharī`ah rules and principles. Furthermore, it includes a new guidance on macroprudential tools, such as capital buffers, leverage ratio and domestic systemically important banks, which will support supervisory authorities in achieving the goal of protecting the banking system and the real economy from system-wide shocks.

Overall, this Workshop aims to:

1. Enhance the participants’ understanding of the respective IFSB Standards and Guiding Principles thereby facilitating the implementation of these standards in their respective jurisdictions;
2. Assist the participants in the practical application of issues addressed in the particular standards through case studies, hands-on exercises and other interactive tools; and
3. Promote the sharing of experiences among the participants on the implementation of respective IFSB Standards and Guiding Principles.

Details of the Regional Workshop are as follows:
Date: 24 – 26 March 2015
Time: 9.30am – 16.00pm
Venue: Egyptian Banking Institute (EBI), 22A, Dr. Anwar El Mofty St., Nasr City, Cairo

The Workshop is tailored for regulatory and supervisory authorities as well as the market players that are members of the IFSB in particular from the Middle East and North African region. For more information on the Workshops, please visit www.ifsb.org or contact Mr. Hamizi Hamzah at [email protected] or +6 03 9195 1420.