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  Event Detail

Category:Awareness Programme
Name:[EVE00386] IFSB Executive Programme - Effective Risk Management II - Implementing Effective Stress Testing and Financial Safety Nets in Islamic Banks: Governance and Regulatory Compliance

This second module of the IFSB’s Effective Risk Management Series is targeted at the Board of Directors and senior management of institutions offering Islamic financial services (IIFS) and intends to provide a platform for industry leaders, top management and regulators to engage in high-level discussions and share industry experiences.  It aims to facilitate a better understanding of the issues confronting the Islamic financial services industry (IFSI), and thus contribute towards advancing the development of the industry. Effective risk management, stress testing and financial safety nets are particularly important focus-areas given the more challenging global financial environment amid the heightened geopolitical uncertainties and increased potential for financial vulnerabilities as well as the ongoing changes in the dynamics of the financial services industry.

At the end of the two-day programme, participants will be updated on the key emerging risks and issues for the IIFS in the current global environment, the latest approaches to risk management, the implementation of effective stress testing tools for IIFS, and the establishment of effective financial safety nets as well as the various developments in these areas, through shared industry experiences and best practices.


Start Date:17/07/2019End Date:18/07/2019
Venue Name:Training Room 3.3 and 3.4, Level 3, Sasana Kijang, Kuala Lumpur
Event Website: -
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  Event Snapshots

  Programme - Event Session(s)

Date Time Topics
Day 1
08:30 - 09:30 Registration
09:30 - 09:45 Opening Remarks - Dr. Bello Lawal Danbatta, Secretary-General, IFSB
09:45 - 10:00 Introduction to the IFSB - Mr. Ahmed Barakat, Acting Head, Membership Affairs
10:00 - 11:15 Session 1: IIFS and Emerging Risks in a Changing Financial Environment - Dr. Mohamed Damak, Senior Director & Global Head of Islamic Finance, Financial Services Research, S&P Global Ratings The growing risk profile of IIFS in the context of the evolving environment and potential vulnerabilities The key risk drivers such as digital disruption and cyber threats, geopolitical uncertainties and global economic growth prospects etc. Current gaps in addressing emerging risks for IIFS
11:15 - 11:45 Group Photo and Coffee Break
11:45 - 13:00 Session 2: Managing the Emerging Risks for IIFS Effective risk management in the changing economic and technological landscape Addressing emerging operational and systemic risks ? are current risk management and stress testing frameworks fit for purpose? New approaches to managing financial and non-financial risks and improving operational and cyber resilience of IIFS The role and responsibilities of senior management in addressing and managing emerging risks
13:00 - 14:30 Networking Lunch
14:30 - 16:00 Session 3: Moderated Session: Effective Stress Testing tools for IIFS - Mr. Walid Ahmad AlZahrani, Assistant Secretary-General, IFSB, Mr. Aznan Abd Aziz, Assistant Governor, Bank Negara Malaysia, Mr. Mindaugas Leika, Financial Sector Expert, IMF Stress testing as a risk management tool for IIFS and key elements of effective governance of stress testing Third-generation solvency tools for stress testing of IIFS Addressing the specificities for IIFS in stress testing The role and responsibilities of BOD and senior management in stress testing
16:00 - 16:30 Tea and refreshments
Day 2
08:30 - 09:30 Morning Coffee
09:30 - 10:45 Session 4: Effective Financial Safety Nets for IIFS: Role of SLOLR and SCDIS in an Era of Uncertainty - Mr. Suhaedi, Executive Director, Islamic Finance Services Department, Bank Indonesia Strengthening financial safety nets for IIFS ? current status and key challenges Developing viable Sharīʻah compliant Lender of Last Resort (SLOLR) instruments - appropriate Sharīʻah-compliant structures and contracts for offering SLOLR, defining default events, availability of collateral and other issues. Facilitating the development and implementation of effective Islamic Deposit Insurance Schemes (IDIS)
10:45 - 11:15 Coffee Break and Networking
11:15 - 12:30 Session 5: Panel Discussion: Digital Transformation of Risk Management in IIFS: Experience Sharing - Asst. Prof. Dr. Ziyaad Mahomed, Associate Dean/Director, INCEIF, Badlisyah Abdul Ghani, President, CIIF Improving the effectiveness and efficiency of risk management Enabling risk management of IIFS through standardisation, data analytics, automation, machine learning and AI Embedding cybersecurity across the IIFS Digitising risk functions in IIFS - FinTech solutions for stress testing, emerging risk identification, and risk portfolio monitoring and management
12:30 - 14:00 Networking Lunch
14:00 - 15:30 Session 6: Panel Discussion: Way Forward - Regulatory Priorities in Addressing Evolving Risks in the IFSI and Financial Stability - Mr. Abdourabbih Abdouss, Head, Risk Management, IsDB, Mr. Nurein Mohammed, Head, Bank Supervision, QFCRA Remaining gaps to be addressed in strengthening risk management, stress testing and financial safety nets for IIFS Case studies and lessons learnt: regulatory best practices from leading jurisdictions Harmonising risk management practices across jurisdictions Role of multilateral bodies and collaboration in strengthening global financial stability and resilience Regulatory agenda and priority areas going forward, in relation to emerging issues and risks
15:30 - 16:00 Closing & Certificate Giving Ceremony
16:00 - 16:30 Tea and refreshments
Disclaimer: Please be advised that the above mentioned agenda points are tentative and that the IFSB reserves the right to make any necessary amendments/changes to the programme without prior notification.

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