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  Event Detail

Category:Awareness Programme
Name:[EVE00408] IFSB-AAOIFI Joint Seminar on the Prudential Implications of IFRS-9 and its FAS Equivalents for Islamic Financial Institutions

The IFSB and AAOIFI are jointly-organising a Seminar themed "Prudential Implications of IFRS-9 and its FAS Equivalents for Islamic Financial Institutions" which will be hosted by Central Bank of Bahrain.

The objectives of this Seminar are:

  • To understand various implications on the implementation of IFRS-9 and AAOIFI FAS 30 for IIFS
  • To discuss policy issues and a way forward in respect of the unique challenges posed by the IFRS-9 and FAS 30 for IIFS
  • To gather insight and discuss the prudential and regulatory considerations in the implementation of IFRS-9 and FAS 30 by IIFS
  • To discuss and identify the accounting and Shariah considerations in implementing the IFRS-9 and FAS-30 for IIFS

For registration and further enquiries, kindly contact Mrs. Ida Shafinaz Ab Malek at ida.shafinaz@ifsb.org


Start Date:15/10/2019End Date:16/10/2019
Venue Name:Downtown Rotana, Manama, Bahrain
Event Website: -

  Event Snapshots

  Programme - Event Session(s)

Date Time Topics
Day 1
08:30 - 09:30 Registration and Welcome Coffee
09:30 - 10:00 Welcome and Opening Remarks
10:00 - 10:15 Keynote Address
10:15 - 11:30 Session 1: IFRS-9 and FAS-30 Implications for IIFS: Market perspective IFRS-9 and its salient features Interpretation and understanding of the Standard by IIFS Impact of the new impairment methodology Challenges faced by Islamic banks in developing ECL models Other implementation challenges faced by IIFS
11:30 - 12:00 Coffee Break and Networking
12:00 - 13:15 Session 2: IFRS-9 and FAS provisions for IIFS: Accounting Perspective AAOIFI perspective on IFRS-9 Salient features of FAS-30 Classification and reporting of financial assets under IFRS-9 and FAS-30 Differences between IFRS-9 and relevant AAOIFI Standards Issues and challenges for IIFS
13:15 - 14:30 Session 3: Prudential Implications of IFRS-9 and its FAS equivalents for IIFS: Regulatory Perspective Mapping of IFRS-9 impairment allowance into general and specific provisions Prudential adjustment to regulatory capital - when accounting provisions are insufficient to cover expected losses from a prudential perspective Prudential asset classification frameworks under IFRS-9 in relation to Islamic finance instruments The IFRS-9 and FAS-30 ECL model and their implications for IIFS Additional disclosure requirements as an outcome of IFRS-9 and FAS-30 Regulatory disclosure requirements for IIFS under IFRS-9 and as per IFSB-22
14:30 - 15:30 Lunch and Networking
Day 2
08:30 - 09:30 Welcome Coffee
09:30 - 10:45 Session 4: IFRS-9 implementation and specific considerations for Islamic finance: Sharīʻah Perspective Issues in applying IFRS-9 to Islamic finance transactions Specificities in the calculation of exposure or LGD for Islamic finance contracts Other Sharīʻah considerations that may require an approach that is different from IFRS-9 requirements Sharīʻah implications of provisions made by IIFS on assets funding by PSIA holders
10:45 - 11:15 Coffee Break and Networking
11:15 - 12:30 Session 5: Way Forward: Addressing the challenges and impact of implementing IFRS-9 and FAS by IIFS Role of stakeholders in the implementation phase of IFRS-9 and FAS-30 Specific regulatory guidance/policy issues for supervisors and market players Implementation challenges and way forward
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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