The Central Bank of Sudan and the Insurance Supervisory Authority of Sudan Host IFSB Events in Khartoum

Kuala Lumpur, 10 March 2014 – The Islamic Financial Services Board (IFSB) successfully organised four events in Khartoum, Sudan on 18 – 20 February 2014. The Insurance Supervisory Authority of Sudan hosted the 6^th Seminar on the Regulation of Takāful and the Facilitating the Implementation of the IFSB Standards (FIS) on Takāful while the Central Bank of Sudan (CBoS) was the host for the IFSB Meet the Members Session and the FIS Workshops on Banking.

The IFSB Meet the Members Session held on 18 February 2014 was attended by Chief Executive Officers, Managing Directors and senior representatives of thirteen IFSB member organisations representing Sudan’s leading financial institutions. The Governor of the Central Bank of Sudan, H.E. Abdelrahman Hassan Abdelrahman Hashim was the Guest of Honour at the Session.

The 6^th Seminar on the Regulation of Takāful on 19 February 2014 which was attended by 80 participants was held with the aim to deepen understanding on pertinent issues relating to the regulation of Takāful, taking into consideration the changing dynamics of the industry post-crisis.

Two workshops were held in Khartoum and received positive response from the IFSB members and the financial communities from Sudan and neighbouring countries. The Facilitating the Implementation of the IFSB Standards (FIS) Workshops on Banking which was held on 18 to 20 February 2014 saw participation from over 70 persons while the FIS Workshop on Takāful on 20 February 2014 was attended by 60 participants.

IFSB Secretary-General, Jaseem Ahmed stated that the turnout for all the events from the members of the IFSB and the Sudanese financial community was very positive and encouraging. He thanked them for their tremendous support and participation in the work of the IFSB, including their participation in the IFSB Technical Committee, working groups, workshops and awareness programmes. The Central Bank of Sudan is a Founding member of the IFSB, and sits as a Permanent Member of the IFSB Council. The Insurance Supervisory Authority is an Associate Member of the IFSB.