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IFSB programmes to facilitate the development of the Islamic financial services industry     
Events & Activities > Event Details

  Event Detail

Category:Awareness Programme
Name:[EVE00411] Public Hearing for ED-23 : Revised Capital Adequacy Standard for Institutions Offering Islamic Financial Services (Banking Segment)
Description:

In its 49th meeting held on 23 and 24 October 2019 in Kuala Lumpur, Malaysia, the Technical Committee of the Islamic Financial Services Board (IFSB) approved the issuance of the following Exposure Draft (ED) :

 

  • Revised Capital Adequacy Standard (RCAS) for Institutions Offering Islamic Financial Services (Banking Segment)

 

The Public Consultation will be for a period of 2 months, starting from 4 November 2019 until 2 January 2020

 

In conjunction to the above, the IFSB will be organising a Public Hearing for ED-23 on 15 November 2019 in Jakarta hosted by Bank Indonesia. Therefore, the IFSB would like to invite all members, stakeholders and interested parties to attend the above programme.

 

Deadline for online registration is on 12 November 2019.


Start Date:15/11/2019End Date:15/11/2019
Venue Name:Kakatua Room, Jakarta Convention Centre
City:Jakarta
Country:INDONESIA
Event Website: -
Registration:
View in PDF

  Programme - Event Session(s)

Date Time Topics
Day 1
15/11/2019
10:00 - 11:00 Public Hearing for ED-23 : Revised Capital Adequacy Standard for Institution Offering Islamic Financial Services (Banking Segment)

The aim of ED-23 is to align the IFSB capital adequacy standard (IFSB-15) with global capital standards, particularly the Basel III final reforms. The ED-23 made several enhancements to the IFSB-15 with the aim of making it more comprehensive and robust and in tune with global best practice in terms of regulatory capital adequacy framework for institutions offering Islamic banking services. The incorporation of the global best practices in the Standard will ensure the provision of a level playing field to IIFS vis-à-vis the conventional financial institutions subjected to capital regulatory framework. The ED-23 provides enhanced guidance to the RSAs and with the necessary flexibility for its application across regions and on small to fairly large and sophisticated IIFS. The main objectives of this Standard is to:

a)    Assist the IIFS and their supervisory authorities in the implementation of a capital adequacy framework that will ensure effective coverage of risk exposures of the IIFS and allocation of appropriate capital to cover these risks, thus enhancing the resilience of the IFSI;

b)   Provide enhanced guidance on the maintenance of high-quality regulatory capital components by IIFS, which comply with Sharī`ah rules and principles;

c)   Enhance the guidance provided by the earlier IFSB capital adequacy standards in addressing the capital adequacy requirements of various risk exposures related to Sharī`ah-compliant products and services offered by IIFS;

d)  Provide enhanced guidance on the capital adequacy treatment of an IIFS’s involvement in Sukūk issuance and securitisation processes in various capacities;

e)  Address some specific concerns in the course of implementation of the earlier IFSB capital adequacy standards and guidance notes; and

Adapt international best practices, as well as current and emerging standards, relating to capital adequacy for IIFS

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.

  Downloadable Document(s)

*Note: Click Document Name to view/download document

1.)  Event Session(s) - PDF Format

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