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Category:Awareness Programme
Name:[EVE00446] IFSB Online Executive Programme - COVID-19 and Implications on Institutions offering Islamic Financial Services (IIFS)

The COVID-19 pandemic has been an unprecedented and major disruptive event for the global economy. The measures taken to contain the pandemic has triggered a major global downturn, but the full impact and scale of risks facing the financial system remain uncertain as the situation evolves.

Along with the rest of the financial system, Institutions offering Islamic Financial Services (IIFS) are likely to face both immediate and future challenges. It raises number of pertinent questions for regulators supervising IIFS and for IIFS themselves regarding whether there are any Islamic finance specificities that create specific implications, risks or challenges which require a different regulatory or supervisory approach from that of conventional financial institutions. Additionally, while governments, central banks, regulators, and international organisations have moved rapidly to address the immediate effects of COVID-19, questions remain on how policy should continue to evolve to preserve financial stability and address the potential medium and longer term effects of COVID-19 on the financial system, and what these might be for the IIFS. This executive programme aims to try and answer some of these crucial questions and to encourage discussion, debate and sharing of country challenges, experiences and policy approaches.

• To discuss the impact of COVID-19 on the global financial system and global economy and its implications for the overall risk environment of IIFS
• To discuss the implications of COVID-19 for IIFS and identify specific risk factors that might arise in relation to specificities of IIFS
• To discuss the areas where regulatory responses may be needed to address the impact of COVID-19 to ensure the resilience and stability of IIFS and the various approaches that are being taken by different regulators

The details of the Executive Programe are as follow:

Date: 7 July 2020

Time: 14:30 - 17:50 (Malaysia time)

Venue: via web conference/webinar

*****This Executive Programme is free for all categories of IFSB members. For Non-Members a participation fee of USD100 will be applicable*****  

For registration and enquiries, please email Mrs. Ida Shafinaz Ab. Malek at ida.shafinaz@ifsb.org

Start Date:07/07/2020End Date:07/07/2020
Venue Name:
City:Kuala Lumpur
Event Website: -

  Event Snapshots

  Programme - Event Session(s)

Date Time Topics
Day 1
14:30 - 14:40 Opening Remarks
14:40 - 15:40 Session 1: Impact of the COVID-19 Pandemic on the Global Economy and Financial Markets - Dr. Mohamed Damak, Senior Director and Global Head of IF, S&P Global Ratings

• What has been the global macroeconomic impact of COVID-19?
• How has COVID-19 affected global financial markets?
• How might it affect or amplify existing financial vulnerabilities and what are the major global risk factors and scenarios?
• What are the implications for global financial stability?

15:40 - 15:45 Break
15:45 - 16:45 Session 2: Covid-19 and Implications for IIFS (Islamic Banking Sector) - Mr. Ayman Sejiny, Chief Executive Officer, Islamic Corporation for the Development of the Private Sector (ICD)

• What has been the COVID-19 economic implications on the performance of IIFS?
• Are there any differences in financial implications between IIFS and its conventional counterparts?
• What are the risk exposures of IIFS due to COVID-19?
• What are the appropriate risk management techniques for IIFS in responding to COVID-19 implications?

16:45 - 16:50 Break
16:50 - 17:50 Session 3: Regulatory Responses to COVID-19 - Dr. Rifki Ismal, Assistant Secretary-General, IFSB and Mr. Mohamed Mahrous, Manager of Financial Stability, Saudi Arabian Monetary Authority

• What are the various policy actions that have been taken by governments and regulators to mitigate the impact of COVID-19 on economic and financial stability?
• What are the regulatory treatments that have been undertaken by regulatory and supervisory authorities as risk management measures to ensure the financial system stability?
• Are there any specific financial regulations or macro-prudential policies enacted specifically for the Islamic banking sector?
• What are potential vulnerabilities that might arise in the medium or long-term for IIFS as a result of COVID-19 and how might regulatory policies address these?
• What is the way forward for Islamic banking sector development in the midst of COVID-19 turbulence?

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)

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1.)  Event Session(s) - PDF Format

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