About the Workshop
This 3-day Workshop is tailored for the regulatory and supervisory authorities for the Islamic Capital Market sector on the following IFSB Standards:
| • |
Introduction to Islamic Capital Market |
| • |
IFSB-6 |
: |
Guiding Principles on Governance for Islamic Collective Investment Schemes (ICIS) |
| • |
IFSB-10 |
: |
Guiding Principles on Sharī`ah Governance Systems for IIFS |
| • |
IFSB-19 |
: |
Guiding Principles on Disclosure Requirements for Islamic Capital Market Products (Sukūk and Islamic Collective Investment Schemes) |
| • |
IFSB-21 |
: |
Core Principles for Islamic Finance Regulation (ICM Segment) |
As an overview, for the first session, the Workshop will provide insights on the fundamentals of Islamic Capital Market, the background and development of Islamic equity market and Islamic hedging products. Besides, the participants will also be exposed to various aspects related to Sukūk and securitisation as well as Islamic Collective Investment Schemes (ICIS) in the remaining sessions.
IFSB Guiding Principles on Governance for Islamic collective investment schemes (ICIS) (IFSB-6) reinforces the international best practices on supervising Collective Investment Schemes market while addressing the specificities of ICIS with respect to general governance; transparency and disclosure issues; compliance with Sharī`ah rules and principles as well as examination of additional protection required by the ICIS investors.
IFSB-10: Guiding Principles on Sharī`ah Governance Systems includes the components of a sound Sharī`ah governance system especially with regards to the competence, independence, confidentiality and consistency of the Sharī`ah boards.
IFSB-19: Guiding Principles on Disclosure Requirements for Islamic Capital Market Products sets out general principles on disclosure requirements for ICM products, specifically for ṣukūk and ICIS. The standard provides guidance to Regulatory and Supervisory Authorities (RSAs) to assess the adequacy of the disclosure frameworks.
IFSB-21: on Core Principles for Islamic Finance Regulation (ICM Segment). The Standard provides a set of core principles for the regulation and supervision of the ICM, taking into consideration the specificities of Islamic finance. It envisages that these core principles will be used by jurisdictions as a benchmark for assessing the quality of their regulatory and supervisory systems, and for identifying future work to achieve a baseline level of sound regulations and practices for ICM products and services.
Overall, this Workshop aims to:
- Enhance the participants’ understanding of the respective Standards and Guiding Principles thereby facilitating the implementation of these standards in their respective jurisdictions;
- 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
- Promote the sharing of experiences among the participants on the implementation of respective IFSB Standards and Guiding Principles.
| 
