Capacity Building

This IFSB-FIS Workshop is hosted by Bank Al-Maghrib, Morocco. This Workshop will address the following IFSB Standards and Guidance Note: IFSB-1: Guiding Principles of Risk Management for Institutions (other than Insurance Institutions) offering only Islamic Financial Services (IIFS) IFSB-5: Guidance on Key Elements in the Supervisory Review Process of Institutions offering Islamic Financial Services (excluding Islamic Insurance (Takâful) Institutions and Islamic Mutual Funds IFSB-7: Capital Adequacy Requirements for Sukûk, Securitisations and Real Estate investment GN-2: Guidance Note in Connection with the Risk Management and Capital Adequacy Standards: Commodity Murâbahah Transactions Participation in the Workshop is by INVITATION only. For more information on the Workshop, please email to Ms. Yazmin Aziz at [email protected]. Programme - Event Session(s) Date Time Topics Day 1 31/10/2011 WORKSHOP ON ISLAMIC FINANCE : CONCEPT, CONTRACT AND RISK IMPLICATIONS FOR INSTITUTIONS (OTHER THAN INSURANCE INSTITUTIONS) OFFERING ONLY ISLAMIC FINANCIAL SERVICES (IIFS) WORKSHOP ON IFSB-1 : GUIDING PRINCIPLES OF RISK MANAGEMENT FOR INSTITUTIONS (OTHER THAN INSURANCE INSTITUTIONS) OFFERING ONLY ISLAMIC FINANCIAL SERVICES (IIFS) 09:00 - 09:30 Registration 09:30 - 09:45 Opening Session Mr. Abdelilah Belatik, Assistant Secretary-General, Islamic Financial Services Board Mr. Abderrahim Bouazza, Head of Banking Supervision Department, Bank Al Maghrib 09:45 - 11:00 Session 1 : Islamic Finance: Concepts, Contracts, and Risk Implications on IIFS Concepts, Contracts and Application for: -Sale and Lease Based; -Equity-Based and -Sukuk and Islamic Collective Investment Schemes (ICIS) Risk Implications on IIFS 11:00 - 11:30 Coffee Break 11:30 - 13:00 Session 2 : IFSB-1: Guiding Principles of Risk Management for Institutions (other than Insurance Institutions) offering only Islamic Financial Services (IIFS) -Focus on Credit Risk -Focus on Equity Risk -Focus on Operational Risk 13:00 - 14:00 Lunch & Prayer 14:00 - 16:00 Session 3 : IFSB-1: Guiding Principles of Risk Management for Institutions (other than Insurance Institutions) offering only Islamic Financial Services (IIFS) -Focus on Market Risk -Focus on Liquidity Risk -Focus on Rate of Return Risk -Case Study 1 & Discussion : Failure of an IIFS-A: Risk Management Perspective Day 2 01/11/2011 WORKSHOP ON GN-2 : GUIDING NOTE IN CONNECTION WITH THE RISK MANAGEMENT AND CAPITAL ADEQUACY STANDARDS: COMMODITY MURABAHAH TRANSACTIONS WORKSHOP ON IFSB-7 : CAPIRAL ADEQUACY REQUIREMENTS FOR SUKUK, SECURITISATION AND REAL ESTATE INVESTMENT 09:30 - 11:00 Session 4 : GN-2: Guidance Note in Connection with the Risk Management and Capital Adequacy Standards: Commodity Murâbahah Transactions -Case Study 1: Commodity Murâbahah Transactions and Failure of an IIFS 11:00 - 11:30 Coffee Break 11:30 - 13:00 Session 5 : IFSB-7: Capital Adequacy Requirements for Sukuk, Securitization and Real Estate Investment 13:00 - 14:00 Lunch & Prayer 14:00 - 16:00 Session 6 : IFSB-7: Capital Adequacy Requirements for Sukuk, Securitization and Real Estate Investment (cont.) Case Studies & Discussion Day 3 02/11/2011 WORKSHOP ON IFSB-5 : GUIDANCE ON KEY ELEMENTS IN THE SUPERVISORY REVIEW PROCESS OD INSTITUTIONS OFFERING ISLAMIC FINANCIAL SERVICES (EXCLUDING ISLAMIC INSURANCE (TAKAFUL) INSTITUTIONS AND ISLAMIC MUTUAL FUNDS) OPEN SESSION ON PRUDENTIAL AND REGULATORY FRAMEWORK FOR ISLAMIC FINANCE 09:30 - 11:00 Session 7 : Prudential and Regulatory Framework for IIFS Overview of the Regulatory Framework for IIFS IFSB-5: Guidance on Key Elements in the Supervisory Review Process of Institutions offering Islamic Financial Services (excluding Islamic Insurance (Takâful) Institutions and Islamic Mutual Funds) -Necessary Conditions for Effective Supervision -Consolidated Home-Host Supervision -Supervisory Issues in Islamic Windows 11:00 - 11:30 Coffee Break 11:30 - 13:00 Session 8 : Prudential and Regulatory Framework for IIFS (cont.) 13:00 - 14:00 Lunch & Prayer 14:00 - 16:00 Session 9 : Open Session on Prudential and Regulatory Framework for Islamic Finance 16:00 - 16:30 Closing Ceremony Mr. Abderrahim Bouazza, Head of Banking Supervision Department, Bank Al Maghrib Downloadable Document(s) 1.) Event Session(s) - PDF Format

Participation in the Workshop is by INVITATION only. This workshop will address the following IFSB Standards and Guidance Notes: -IFSB-1 : Risk Management -IFSB-2 : Capital Adequacy -IFSB-3: Corporate Governance -IFSB-4: Transparency and Market Discipline -IFSB-5: Supervisory Review Process -IFSB-7: Capital Adequacy Requirements for Sukûk & Securitisations and Real Estate Investments -IFSB-10: Sharîah Governance Systems -GN-1: Guidance Note In Connection with the Capital Adequacy Standard: Recognition of Ratings by External Credit Assessment Institutions (ECAIs) on Shari`ah-Compliant Financial Instruments -GN-2: Guidance Note in Connection with the Risk Management and Capital Adequacy Standards: Commodity Murâbahah Transactions -GN-3: Guidance Note on the Practice of Smoothing the Profits Payout to Investment Account Holders -GN-4: Guidance Note In Connection with the Capital Adequacy Standard: The Determination of Alpha in the Capital Adequacy Ratio For more information on the Workshop, please email to Ms. Yazmin Aziz at [email protected] Programme - Event Session(s) Date Time Topics Day 1 21/11/2011 ISLAMIC FINANCE : CONCEPT & CONTRACTS AND RISKS IMPLICATION FOR IIFS IFSB-1 : GUIDING PRINCIPLES OF RISK MANAGEMENT FOR INSTITUTIONS (OTHER THAN INSURANCE INSTITUTIONS) OFFERING ONLY ISLAMIC FINANCIAL SERVICES 09:00 - 09:30 Registration 09:30 - 09:50 Opening Session 09:50 - 11:15 Session 1 Islamic Finance : Concept & Contracts and Risks Implication for IIFS 11:15 - 11:30 Coffee Break 11:30 - 13:00 Session 2 IFSB-1 : Guiding Principles of Risk Management for Institutions (Other than Insurance Institutions) Offering only Islamic Financial Services • Focus on Credit Risk & Supervisory Perspective • Focus on Equity Risk & Supervisory Perspective • Focus on Operational Risk & Supervisory Perspective 13:00 - 14:00 Lunch & Prayer 14:00 - 15:00 Session 3 IFSB-1 : Guiding Principles of Risk Management for Institutions (Other than Insurance Institutions) Offering only Islamic Financial Services (cont.) • Focus on Market Risk & Supervisory Perspective • Focus on Liquidity Risk & Supervisory Perspective • Focus on Rate of Return Risk & Supervisory Perspective 15:00 - 15:30 Coffee Break 15:30 - 17:00 Session 4 Intensive Case Study 1 and Discussions : Managing Shari’ah Non-Compliance and Legal Risk in IIFS Intensive Case Study 2 and Discussions : Failure of an IIFS :A Risk Management Perspective Sharing experiences on Risk Management Practices in the IFSB member Countries Day 2 22/11/2011 IFSB-2 : CAPITAL ADEQUACY STANDARD FOR INSTITUTIONS (OTHER THAN INSURANCE INSTITUTIONS) OFFERING ONLY ISLAMIC FINANCIAL SERVICES (IIFS) GN-2: GUIDANCE NOTE IN CONNECTION WITH THE RISK MANAGEMENT AND CAPITAL ADEQUACY STANDARDS: COMMODITY MURÂBAHAH TRANSACTIONS 09:30 - 11:00 Session 5 Why do we need for capital regulations? Why international framework such as of BCBS (Basel) on Capital adequacy is not applicable to IIFS? How does IFSB Capital Adequacy framework differ with Basel framework in terms of Numerator (i.e. eligible capital) and Denominator (i.e. Credit risk, Market risk, and Operational risk)? IFSB-2 : Capital Adequacy Standard for Institutions (other than Insurance Institutions) Offering only Islamic Financial Services (IIFS) • Overview of Capital Adequacy Standard • Capital Adequacy Formulas 11:00 - 11:30 Coffee Break 11:30 - 13:00 Session 6 Measurement of Capital Adequacy Requirements for Credit Risk • Credit Risk Mitigation • Examples • Group Exercise 13:00 - 14:00 Lunch & Prayer 14:00 - 15:30 Session 7 Measurement of Capital Adequacy Requirements for Market Risk • Examples • Group Exercise • Group Discussion on Regulatory Approaches for Applying Risk Weights on Profit Sharing Modes 15:30 - 16:00 Coffee Break 16:00 - 17:00 Session 8 Measurement of Capital Adequacy Requirements for Operational Risk • Individual Exercise Capital Requirements for Islamic Financing Contracts GN-2 : Guidance Note in Connection with the Risk Management and Capital Adequacy Standards: Commodity Murâbahah Transactions Day 3 23/11/2011 GN-4 : GUIDANCE NOTE IN CONNECTION WITH THE CAPITAL ADEQUACY STANDARD: THE DETERMINATION OF ALPHA IN THE CAPITAL ADEQUACY RATIO GN-1 : GUIDANCE NOTE IN CONNECTION WITH THE CAPITAL ADEQUACY STANDARD: RECOGNITION OF RATINGS BY EXTERNAL CREDIT ASSESSMENT INSTITUTIONS (ECAIS) ON SHARÎ'AH-COMPLIANT FINANCIAL INSTRUMENTS IFSB-7 : CAPITAL ADEQUACY REQUIREMENTS FOR SUKÛK & SECURITISATIONS AND REAL ESTATE INVESTMENTS 09:30 - 11:00 Session 9 GN-4: Guidance Note In Connection with the Capital Adequacy Standard: The Determination of Alpha in the Capital Adequacy Ratio • Case Study & Discussion : The Determination of Alpha and Displaced Commercial Risk 11:00 - 11:30 Coffee Break 11:30 - 13:00 Session 10 Comprehensive Case Study & Discussion on IFSB-2 : Capital Adequacy for IIFS GN-1: Guidance Note in Connection with the Capital Adequacy Standard: Recognition of Ratings by External Credit Assessment Institutions (ECAIs) on Sharî'ah-Compliant Financial Instruments Sharing Experiences on Capital Adequacy Requirements in the IFSB Member Countries 13:00 - 14:00 Lunch & Prayer 14:00 - 15:30 Session 11 IFSB-7 : Capital Adequacy Requirements for Sukûk & Securitisations and Real Estate Investments 15:30 - 16:00 Coffee Break 16:00 - 17:00 Session 12 IFSB-7 : Capital Adequacy Requirements for Sukûk & Securitisations and Real Estate (cont.) Case Study & Discussion Day 4 24/11/2011 IFSB-3 : GUIDING PRINCIPLES ON CORPORATE GOVERNANCE FOR INSTITUTIONS OFFERING ONLY ISLAMIC FINANCIAL SERVICES (EXCLUDING ISLAMIC INSURANCE (TAKAFUL) INSTITUTIONS AND ISLAMIC MUTUAL FUNDS IFSB-10 : GUIDING PRINCIPLES ON SHARIAH GOVERNANCE SYSTEMS FOR INSTITUTIONS OFFERING ISLAMIC FINANCIAL SERVICES GN-3 : GUIDANCE NOTE ON THE PRACTICE OF SMOOTHING THE PROFITS PAYOUT TO INVESTMENT ACCOUNT HOLDERS 09:30 - 11:00 Session 13 IFSB-3 : Guiding Principles on Corporate Governance for Institutions Offering Only Islamic Financial Services (Excluding Islamic Insurance (Takaful) Institutions and Islamic Mutual Funds • Overview of Corporate Governance • Recommended Best Practices on Corporate Governance for the IIFS 11:00 - 11:30 Coffee Break 11:30 - 13:00 Session 14 Recommended Best Practices on Corporate Governance for the IIFS (cont.) GN-3 : Guidance Note on the Practice of Smoothing the Profits Payout to Investment Account Holders Case Studies on IFSB-3 13:00 - 14:00 Lunch & Prayer 14:00 - 16:00 Session 15 IFSB-10 : Guiding Principles On Shariah Governance Systems For Institutions Offering Islamic Financial Services • Overview of Shari’ah Governance Systems • General Approach to Shari’ah Governance Systems Criteria for Sound Shari’ah Governance Systems Case Studies Sharing Experiences on Corporate Governance & Shari’ah Governance for IIFS in the IFSB Member Countries 16:00 - 16:30 Coffee Break Day 5 25/11/2011 IFSB-4 : DISCLOSURES TO PROMOTE TRANSPARENCY AND MARKET DISCIPLINE FOR

This Workshop has been postponed to a later date. Programme - Event Session(s) Date Time Topics Day 1 22/02/2012 09:00 - 09:30 Registration 09:30 - 09:50 Opening Session 09:50 - 11:15 Session 1: Introduction to Islamic Capital Market Concept and contracts in Islamic Finance Overview of key Islamic capital market products - Sukūk - Sharī`ah compliant stocks and indexes - Islamic collective investment schemes 11:15 - 11:30 Coffee Break 11:30 - 13:00 Session 2: IFSB-7: Capital Adequacy Requirements for Sukūk, Securitisation and Real Estate Investment Overview of prudential issues in sukūk instruments 13:00 - 14:00 Lunch & Prayer 14:00 - 15:30 Session 3: IFSB-7: Capital Adequacy Requirements for Sukūk, Securitisation and Real Estate Investment Prudential issues in sukūk instruments (case study) 15:30 - 16:00 Coffee Break 16:00 - 17:00 Session 4: IFSB-6: Guiding Principles on Governance for Islamic Collective Investment Schemes Day 2 23/02/2012 09:30 - 11:00 Session 5: IFSB-6: Guiding Principles on Governance for Islamic Collective Investment Schemes Recommended best practices and case studies 11:00 - 11:30 Coffee Break 11:30 - 13:00 Session 6: IFSB-9: Guiding Principles on Conduct of Business for Institutions Offering Islamic Financial Services 13:00 - 14:00 Lunch & Prayer 14:00 - 15:30 Session 7: IFSB-10: Guiding Principles on Sharī`ah Governance System for Institutions Offering Islamic Financial Services 15:30 - 16:00 Coffee Break 16:00 - 17:00 Session 8: IFSB-10: Guiding Principles on Sharī`ah Governance System for Institutions Offering Islamic Financial Services Case studies 17:00 - 17:30 Closing Ceremony Downloadable Document(s) 1.) Event Session(s) - PDF Format

This Workshop is hosted by Bank Negara Malaysia. This Workshop will address the following IFSB Standards and Guidance Principles: IFSB-3: Guiding Principles on Corporate Governance for Institutions Offering only Islamic Financial Services (Excluding Islamic Insurance (Takāful) Institutions and Islamic Mutual Funds IFSB-4: Disclosures to Promote Transparency and Market Discipline for Institutions Offering Islamic Financial Services (excluding Islamic Insurance (Takāful) Institutions and Islamic Mutual Funds) IFSB-9: Guiding Principles on Conduct of Business for Institutions Offering Islamic Financial Services IFSB-10: Guiding Principles on Sharī`ah Governance Systems for Institutions Offering Islamic Financial Services Participation in the Workshop is by INVITATION only. For more information on the Workshop, please email to Ms. Yazmin Aziz at [email protected]. Programme - Event Session(s) Date Time Topics Day 1 07/03/2012 09:00 - 09:30 Registration 09:30 - 09:45 Welcoming Remark 09:45 - 11:00 Session 1 - IFSB-3: Guiding Principles on Corporate Governance for Institutions Offering only Islamic Financial Services (Excluding Islamic Insurance (Takāful) Institutions and Islamic Mutual Funds) (IIFS) Overview of IFSB-3: Guiding Principles on Corporate Governance for IIFS Understanding the motivating factors Defining ‘corporate governance’ and ‘stakeholders’ in the context of IIFS Corporate governance issues specific to IIFS 11:00 - 11:15 Coffee Break 11:15 - 13:00 Session 2 - IFSB-3: Guiding Principles on Corporate Governance for Institutions Offering only Islamic Financial Services (Excluding Islamic Insurance (Takāful) Institutions and Islamic Mutual Funds) (IIFS) Recommendations of IFSB-3: Guiding Principles on Corporate Governance for IIFS Case Studies on IFSB-3: Guiding Principles on Corporate Governance for IIFS 13:00 - 14:00 Lunch & Prayer 14:00 - 15:30 Session 3 - IFSB-10: Guiding Principles on Sharī`ah Governance Systems for Institutions offering Islamic Financial Services (IIFS) Overview of IFSB-10: Sharī`ah Governance Systems for IIFS General Approach to Sharī`ah Governance Systems for IIFS Criteria for sound Sharī`ah Governance Systems for IIFS 15:30 - 15:45 Coffee Break 15:45 - 17:00 Session 4 - IFSB-10: Guiding Principles on Sharī`ah Governance Systems for Institutions Offering Islamic Financial Services (IIFS) Case Studies on IFSB-10: Guiding Principles on Sharī`ah Governance Systems for IIFS Day 2 08/03/2012 09:30 - 11:00 Session 5 - IFSB-4: Disclosures to Promote Transparency and Market Discipline for Institutions offering Islamic Financial Services (excluding Islamic Insurance (Takāful) Institutions and Islamic Mutual Funds) (IIFS) Overview of IFSB-4: Disclosures to Promote Transparency and Market Discipline (TMD) for IIFS IFSB-4 Necessary Conditions for Effective TMD IFSB-4 Recommended Disclosures for IIFS 11:00 - 11:15 Coffee Break 11:15 - 13:00 Session 6 - IFSB-4: Disclosures to Promote Transparency and Market Discipline for Institutions offering Islamic Financial Services (excluding Islamic Insurance (Takāful) Institutions and Islamic Mutual Funds) (IIFS) IFSB-4 Recommended Disclosures for IIFS (Cont’d) IFSB-4 Implementation Issues and Challenges Case Studies on IFSB-4: Disclosures to Promote TMD for IIFS 13:00 - 14:00 Lunch & Prayer 14:00 - 15:30 Session 7 - IFSB-9: Guiding Principles on Conduct of Business for Institutions Offering Islamic Financial Services (IIFS) An Insight into IFSB-9: Guiding Principles on Conduct of Business for IIFS 15:30 - 15:45 Coffee Break 15:45 - 17:00 Session 8 - IFSB-9: Guiding Principles on Conduct of Business for Institutions Offering Islamic Financial Services (IIFS) Case Studies on IFSB-9: Guiding Principles on Conduct of Business for IIFS 17:00 - 17:15 Closing Ceremony Downloadable Document(s) 1.) Event Session(s) - PDF Format

This Workshop is hosted by the Central Bank of Nigeria (CBN). These Workshops will cover the following IFSB Standards and Guiding Principles: •IFSB-1: Guiding Principles of Risk Management for Institutions (Other than Insurance Institutions) Offering only Islamic Financial Services •IFSB-2: Capital Adequacy Standard for Institutions (other than Insurance Institutions) offering only Islamic Financial Services (IIFS) •IFSB-4: Disclosures to Promote Transparency and Market Discipline for Institutions offering Islamic Financial Services (excluding Islamic Insurance (Takâful) Institutions and Islamic Mutual Funds) •IFSB-5: Guidance on Key Elements in the Supervisory Review Process of Institutions offering Islamic Financial Services (excluding Islamic Insurance (Takâful) Institutions and Islamic Mutual Funds) •IFSB-7: Capital Adequacy Requirements for Sukûk, Securitisations and Real Estate investment •GN-2: Guidance Note in Connection with the Risk Management and Capital Adequacy Standards: Commodity Murâbahah Transactions Participation in these Workshops are by INVITATION only. For more information on these Workshops, please email to Mrs. Azizakhon Yarlaeva at [email protected]. Programme - Event Session(s) Date Time Topics Day 1 16/04/2012 IFSB-FIS WORKSHOP DAY ONE 09:00 - 09:30 Registration 09:30 - 09:50 Opening Session 09:50 - 11:15 Session 1 IFSB-1: Guiding Principles of Risk Management for Institutions (Other than Insurance Institutions) Offering only Islamic Financial Services -Overview on IFSB-1 Guiding Principles on Risk Management for IIFS -Focus on Credit Risk & Supervisory Perspective -Group Exercise 11:15 - 11:30 Coffee Break 11:30 - 13:00 Session 2 IFSB-1: Guiding Principles of Risk Management for Institutions (Other than Insurance Institutions) Offering only Islamic Financial Services - Focus on Equity Investment Risk & Supervisory Perspective - Focus on Operational Risk & Supervisory Perspective -Group Exercises 13:00 - 14:00 Lunch & Prayers 14:00 - 16:00 Session 3 IFSB-1: Guiding Principles of Risk Management for Institutions (Other than Insurance Institutions) Offering only Islamic Financial Services -Focus on Market Risk & Supervisory Perspective -Focus on Liquidity Risk & Supervisory Perspective -Focus on Rate of Return Risk & Supervisory Perspective -Intensive Case Studies 16:00 - 16:30 Coffee Break Day 2 17/04/2012 IFSB-FIS WORKSHOP DAY TWO 09:30 - 11:15 Session 4 IFSB-2: Capital Adequacy Standard for Institutions (other than Insurance Institutions) offering only Islamic Financial Services (IIFS) -Basel vs IFSB Capital Adequacy Framework -An overview of IFSB-2: Capital Adequacy Standard for IIFS -Measurement of Capital Adequacy Requirements for Credit Risk -Credit Risk Mitigation -Examples and Group Exercise 11:15 - 11:30 Coffee Break 11:30 - 13:00 Session 5 IFSB-2: Capital Adequacy Standard for Institutions (other than Insurance Institutions) offering only Islamic Financial Services (IIFS) -Measurement of Capital Adequacy Requirements for Credit Risk (Cont'd) -Measurement of Capital Adequacy Requirements for Market Risk -Group Exercise -Group Discussion on Regulatory Approaches for Applying Risk Weights on Profit Sharing Modes 13:00 - 14:00 Lunch & Prayer 14:00 - 16:00 Session 6 IFSB-2: Capital Adequacy Standard for Institutions (other than Insurance Institutions) offering only Islamic Financial Services (IIFS) -Measurement of Capital Adequacy Requirements for Operational Risk -Individual Exercise -Capital Adequacy Requirements for Islamic Financing Instruments 16:00 - 16:30 Coffee Break Day 3 18/04/2012 IFSB-FIS WORKSHOP DAY THREE 09:30 - 11:00 Session 7 IFSB-2: Capital Adequacy Standard for Institutions (other than Insurance Institutions) offering only Islamic Financial Services (IIFS) -Comprehensive Case Study on Capital Adequacy for IIFS 11:00 - 11:30 Coffee Break 11:30 - 13:00 Session 8 GN-2: Guidance Note in Connection with the Risk Management and Capital Adequacy Standards: Commodity Murâbahah Transactions -Case Study on Commodity Murâbahah Transactions and implications for IIFS and Supervisors 13:00 - 14:00 Lunch & Prayer 14:00 - 16:00 Session 9 IFSB-7: Capital Adequacy Requirements for Sukūk & Securitisations and Real Estate Investments 16:00 - 16:30 Coffee Break Day 4 19/04/2012 IFSB-FIS WORKSHOP DAY FOUR 09:30 - 11:00 Session 10 IFSB-7: Capital Adequacy Requirements for Sukūk & Securitisations and Real Estate Investments -Capital Requirements for Sukūk & Securitisations and Real Estate (Cont'd) 11:00 - 11:30 Coffee Break 11:30 - 13:00 Session 11 IFSB-7: Capital Adequacy Requirements for Sukūk & Securitisations and Real Estate Investments -Case Study for Sukūk and Securitisation 13:00 - 14:00 Lunch & Prayer 14:00 - 16:00 Session 12 IFSB-4: Disclosures to Promote Transparency and Market Discipline for Institutions offering Islamic Financial Services (excluding Islamic Insurance (Takāful) Institutions and Islamic Mutual Funds) -Recommended Disclosures for IIFS 16:00 - 16:30 Coffee Break Day 5 20/04/2012 IFSB-FIS WORKSHOP DAY FIVE 09:30 - 11:00 Session 13 IFSB-5: Guidance on Key Elements in the Supervisory Review Process of Institutions offering Islamic Financial Services (excluding Islamic Insurance (Takâful) Institutions and Islamic Mutual Funds) -Necessary Conditions for Effective Supervision -Capital adequacy, Risk Management and Corporate Governance -Related Party Transaction -Consolidated Home - Host Supervision -Supervisory Issues in Real Estate Investments -Supervisory Issues in Islamic Windows 11:00 - 11:30 Coffee Break 11:30 - 12:00 Session 14 IFSB-5: Guidance on Key Elements in the Supervisory Review Process of Institutions offering Islamic Financial Services (excluding Islamic Insurance (Takâful) Institutions and Islamic Mutual Funds) -Case Studies for IFSB-5 -Discussion and Q&A Session 12:00 - 12:15 Closing Ceremony 12:15 - 14:30 Lunch & Jumaat Prayers Downloadable Document(s) 1.) Event Session(s) - PDF Format

These Workshops will address the following IFSB Standards and Guidance Principles: • IFSB-6: Guiding Principles on Governance for Islamic Collective Investment Schemes • IFSB-7: Capital Adequacy Requirements for Sukūk, Securitisation and Real Estate Investment • IFSB-8: Guiding Principles on Governance for Takāful (Islamic Insurance) Undertakings • IFSB-9: Guiding Principles on Conduct of Business for Institutions Offering Islamic Financial Services • IFSB-10: Guiding Principles on Sharī`ah Governance Systems for Institutions Offering Islamic Financial Services • IFSB-11: Standard on Solvency Requirements for Takāful (Islamic Insurance) Undertakings Participation in these Workshops are by INVITATION only. For more information on these Workshops, please email to Mrs. Azizakhon Yarlaeva at [email protected]. Downloadable Document(s) 1.) FIS Workshop programme - Islamic Capital Market 2.) FIS Workshop programme - Takaful

This Workshop is hosted by the Financial Services Commission Mauritius (FSC). The Workshop will cover the following IFSB Standards and Guiding Principles: • IFSB-6: Guiding Principles on Governance for Islamic Collective Investment Schemes • IFSB-7: Capital Adequacy Requirements for Sukūk, Securitisations and Real Estate Investment • IFSB-9: Guiding Principles on Conduct of Business for Institutions Offering Islamic Financial Services • IFSB-10: Guiding Principles on Sharī’ah Governance System for Institutions Offering Islamic Financial Services Participation in the Workshop is BY INVITATION only. For more information on the Workshop, please email to Mrs. Azizakhon Yarlaeva at [email protected] Programme - Event Session(s) Date Time Topics Day 1 04/06/2012 IFSB-FIS WORKSHOP DAY ONE 08:30 - 09:00 Registration 09:00 - 09:05 Welcome Remarks 09:05 - 09:20 Opening Remarks by IFSB Representative 09:20 - 09:35 Opening Remarks by Chief Executive of the FSC Mauritius 09:35 - 11:00 Session 1 Public Talk - Islamic Finance Perspectives in Africa 11:00 - 11:30 Coffee Break 11:30 - 12:30 Session 2 Introduction to Islamic Capital Markets - Concept and contracts in Islamic Finance - Overview of Islamic Capital Markets - Sharī’ah-compliant Stocks and Equities - Islamic Collective Investment Schemes - Sukūk 12:30 - 14:00 Lunch & Prayer 14:00 - 16:00 Session 3 IFSB-7: Capital Adequacy Requirements for Sukūk, Securitisations and Real Estate Investment - Sukūk and Securitization - Considerations for holders of Sukūk - Consideration for originators and servicer etc. 16:00 - 16:30 Coffee Break Day 2 05/06/2012 IFSB-FIS WORKSHOP DAY TWO 09:30 - 11:00 Session 4 IFSB-7: Capital Adequacy Requirements for Sukūk, Securitisations and Real Estate investment - Case study - Experience sharing session by Sudan Financial Services Company 11:00 - 11:30 Coffee Break 11:30 - 13:00 Session 5 IFSB-6: Guiding Principles on Governance for Islamic Collective Investment Schemes - Definition of Islamic Collective Investment Schemes (ICIS) - Motivating factors - Guiding principles and recommended best practices 13:00 - 14:00 Lunch & Prayer 14:00 - 16:00 Session 6 IFSB-6: Guiding Principles on Governance for Islamic Collective Investment Schemes - Guiding principles and recommended best practices - Case study 16:00 - 16:30 Coffee Break Day 3 06/06/2012 IFSB-FIS WORKSHOP DAY THREE 09:30 - 11:15 Session 7 IFSB-9: Guiding Principles on Conduct of Business for Institutions Offering Islamic Financial Services - Islamic perspective on conduct of business - Conduct of business and financial stability - IFSB recommendations on conduct of business - Experience sharing session by Central Bank of Sudan 11:15 - 11:30 Coffee Break 11:30 - 13:00 Session 8 IFSB-10: Guiding Principles on Sharī’ah Governance System for Institutions Offering Islamic Financial Services - General governance approach to Sharī’ah governance system - Requirements on Sharī’ah governance system - Experience Sharing Session by Central Bank of Pakistan 13:00 - 13:15 Closing Ceremony 13:15 - 14:00 Lunch 15:30 - 19:00 Organised Tour Downloadable Document(s) 1.) Event Session(s) - PDF Format

This Workshops are hosted by the Financial Supervisory Services of Korea (FSS). This Workshops will cover the following IFSB Standards and Guiding Principles: • Introduction to Islamic Finance • Introduction to Islamic Capital Market • IFSB-6: Guiding Principles on Governance for Islamic Collective Investment Schemes • IFSB-7: Capital Adequacy Requirements for Sukūk Securitisations and Real Estate Investment • IFSB-10: Guiding Principles on Sharī`ah Governance Systems for Institutions Offering Islamic Financial Services Participation in the Workshops is BY INVITATION only. For more information on the Workshop, please email to Mrs. Azizakhon Yarlaeva at [email protected] Programme - Event Session(s) Date Time Topics Day 1 18/06/2012 IFSB-FIS WORKSHOP DAY ONE 09:00 - 09:15 Registration 09:15 - 09:30 Opening Session 09:30 - 10:45 Session 1 Introduction to Islamic Finance: - Concept and contracts in Islamic Finance - Specificities of Islamic Finance 10:45 - 11:00 Coffee Break 11:00 - 12:15 Session 2 Introduction to Islamic Finance (Cont’d) - Islamic Banking Operations and Products - Takāful Models 12:15 - 13:30 Lunch 13:30 - 15:00 Session 3 Introduction to Islamic Capital Markets - Overview of Islamic Capital Market (ICM) - Key Products: Sukūk, Stocks and Indexes, Islamic Collective Investment Scheme 15:00 - 15:30 Coffee Break 15:30 - 17:00 Session 4 IFSB-10: Guiding Principles on Sharī`ah Governance Systems for Institutions Offering Islamic Financial Services Day 2 19/06/2012 IFSB-FIS WORKSHOP DAY TWO 09:00 - 10:30 Session 5 IFSB-7: Capital Adequacy Requirements for Sukūk Securitisations and Real Estate Investment 10:30 - 10:45 Coffee Break 10:45 - 12:15 Session 6 IFSB-7: Capital Adequacy Requirements for Sukūk, Securitisations and Real Estate Investment (Cont’d) 12:15 - 13:30 Lunch 13:30 - 15:00 Session 7 IFSB-6: Guiding Principles on Governance for Islamic Collective Investment Schemes 15:00 - 15:30 Coffee Break 15:30 - 17:00 Session 8 IFSB-6: Guiding Principles on Governance for Islamic Collective Investment Schemes (Cont’d) 17:00 - 17:15 Closing Ceremony Downloadable Document(s) 1.) Event Session(s) - PDF Format

The Workshops are hosted by the Emirates Securities & Commodities Authority Participation is BY INVITATION only. For more information on the Workshops, please email Mrs. Azizakhon Yarlaeva at [email protected]  Programme - Event Session(s) Date Time Topics Day 1 19/11/2012 IFSB-FIS WORKSHOP DAY ONE 09:00 - 09:30 Registration 09:30 - 09:45 Opening Opening Remarks by the IFSB 09:45 - 11:15 Introduction to Islamic Capital Market - Concept of Islamic Finance - Products of Islamic Capital Market - Issues in Islamic Capital Market 11:15 - 11:30 Coffee Break 11:30 - 13:00 Governance for Islamic Collective Investment Schemes - Definition of ICIS - General Governance Approach of ICIS - Transparency and Disclosure 13:00 - 14:00 Lunch & Prayer 14:00 - 16:00 Governance for Islamic Collective Investment Schemes (Cont’d and Case Studies) - Compliance with Shari’ah Rules and Principles - Additional Protection for ICIS Investors - Case Studies 16:00 - 16:30 Coffee Break Day 2 20/11/2012 IFSB-FIS WORKSHOP DAY TWO 09:30 - 11:00 Prudential Issues for Sukuk Instruments - Sukuk Structures - Collateral Security Structures - Risks in Securitization Structures - Operational Requirements Pertaining to Sukuk and Securitizations 11:00 - 11:30 Coffee Break 11:30 - 13:00 Prudential Issues for Sukuk Instruments (Cont’d and Case Studies) - Credit Risk Mitigation for Securitization Exposures - Credit Enhancement for Shari’ah Compliant Securitizations - Case Studies 13:00 - 14:00 Lunch & Prayer 14:00 - 16:00 Panel Discussion: Issues and Challenges in the Development of Islamic Capital Market Speakers: - Representative from IFSB - Representative from SCA 16:00 - 16:30 Coffee Break Day 3 21/11/2012 IFSB-FIS WORKSHOP DAY THREE 09:30 - 11:00 Conduct of Business - Islamic Perspective on Conduct of Business - Conduct of Business and Financial Stability - IFSB Recommendations on Conduct of Business 11:00 - 11:30 Coffee Break 11:30 - 13:00 Shari’ah Governance System - General Governance Approach to Shari’ah Governance System - Requirements on Shari’ah Governance System 13:00 - 14:00 Lunch & Prayer 14:00 - 16:00 Shari’ah Governance System - Case Studies - Experience Sharing by Central Bank of Jordan 16:00 - 16:30 Coffee Break Downloadable Document(s) 1.) Event Session(s) - PDF Format 2.) Survey Soft Copy - IPICM

The forthcoming 2012 IFSB-FIS Workshops, which are catered for the Banking Regulators and Supervisors, will focus on Risk Management issues in Institutions offering Islamic Financial Services (IIFS), with particular attention given to Liquidity Risk Management and Stress Testing arrangements for IIFS. The Workshops will cover the following IFSB Standards and Guiding Principles: • IFSB-12: Guiding Principles on Liquidity Risk Management for Institutions offering Islamic Financial Services. • IFSB-13: Guiding Principles on Stress Testing for Institutions offering Islamic Financial Services. Participation is BY INVITATION only. For more information on the Workshops, please email Mrs. Azizakhon Yarlaeva at [email protected] Programme - Event Session(s) Date Time Topics Day 1 26/11/2012 IFSB-FIS WORKSHOP DAY ONE 09:00 - 09:30 Registration 09:30 - 09:50 Opening Remarks by the IFSB 09:50 - 11:10 Session 1 Islamic Finance: Concept and Contracts and Risk Implications for IIFS Overview of Prudential Issues in IIFS 11:10 - 11:30 Coffee Break 11:30 - 13:00 Session 2 IFSB-1: Guiding Principles of Risk Management for Institutions (other than Insurance Institutions) offering only Islamic Financial Services (IIFS) - Credit Risk & Supervisory Perspective - Equity Investment Risk & Supervisory Perspective - Operational Risk & Supervisory Perspective - Market Risk & Supervisory Perspective - Liquidity Risk & Supervisory Perspective - Rate of Return Risk & Supervisory Perspective 13:00 - 14:00 Lunch & Prayer 14:00 - 15:00 Session 3 Case Studies - Case Studies on Risk Management 15:00 - 15:30 Coffee Break 15:30 - 17:00 Session 4 -Challenges in Liquidity Risk Management from Global Perspective and Implications for IIFS - Significance of liquidity risk management for financial institutions in post-crisis world -The regulatory response to global financial crisis – initiatives of global standard setters and supervisory authorities -Challenges in Liquidity Risk Managements by IIFS -The IFSB initiatives and publications on liquidity risk management of IIFS Day 2 27/11/2012 IFSB-FIS WORKSHOP DAY TWO 09:30 - 11:10 Session 1 Guiding Principles on Liquidity Risk Management of IIFS - Funding and Market Liquidity Risk - Necessary Conditions for an effective Liquidity Risk Management in IFSI - Governance Structure: Role of the Board of Directors and Senior Management - Identification of Liquidity Risk - Interactions of Liquidity Risk and Implications of Islamic Financing Contracts Case Study – 1: Liquidity Risk and Financial Distress in an Islamic investment company 11:10 - 11:30 Coffee Break 11:30 - 13:00 Session 2 Guiding Principles on Liquidity Risk Management of IIFS - Measurement of Liquidity Risk - Diversification of the Funding Base - Consolidated Management of Liquidity Risk - Maintaining High-Quality Liquidity Buffer - Preparing a Contingency Funding Plan - Managing Sharī`ah-Compliant Collateral Case Study – 2: Shari’ah Compliant Alternatives to Repo Transactions – Some practices and initiatives 13:00 - 14:00 Lunch & Prayer 14:00 - 15:30 Session 3 Guiding Principles on Liquidity Risk Management of IIFS - Managing Sharī`ah-Compliant Collateral & Collaboration between IIFS - Meeting Payment and Settlement System Obligations - Foreign Exchange Liquidity Risk - Reporting and Disclosure of Liquidity Risk Case Study – 2: Shari’ah Compliant Alternatives to Repo Transactions – Some practices and initiatives Case Study – 3: Insolvency of an IIFS – Management and Supervision of Liquidity Risk 15:30 - 16:00 Coffee Break 16:00 - 17:00 Session 4 Guiding Principles Liquidity Risk Management for Supervisory Authorities - Responsibility for Supervision of Liquidity Risk & Need for Supervisory Regulations - Supervisors’ Role as Provider of Liquidity Support - Supervision of Liquidity Risk at Consolidated Level Case Study – 4: Supervisory arrangements for Shari’ah compliant Lender of Last Resort and other Liquidity Support to IIFS Experience sharing by Central Bank of Sudan: Instruments and Mechanisms for Liquidity Management of IIFS in Sudan Day 3 28/11/2012 IFSB-FIS WORKSHOP DAY THREE 09:30 - 11:00 Session 1 Guiding Principles Liquidity Risk Management for Supervisory Authorities - Home-Host and Cross-Sector Supervision of Liquidity Risk - Contingency Planning - Supervisors’ Role in the Development of Liquidity Infrastructure Group Discussion – 2: Resolution of Issues in the Management of LCR by the IIFS Experience sharing by Central Bank of Bahrain: Regulatory Framework and Central Bank Tools for Supervision, Monitoring and Support of Liquidity for the IIFS 11:00 - 11:30 Coffee Break 11:30 - 13:00 Session 2 Understanding Stress Testing for Financial Institutions - Stress testing as a risk Management tool - Stress Testing and Global financial crisis - International Guidance on Stress Testing and Gap Analysis - Necessary Conditions For An Effective Stress Testing Regime - IFSB Comprehensive Stress Testing Framework for IIFS 13:00 - 14:00 Lunch & Prayer 14:00 - 15:00 Session 3 Issues and Challenges in Conducting Stress Testing: IMF Perspective - Key Issues in Stress Testing for financial institutions and their supervisors - Overcoming challenges in various stages of Stress Testing - Stress Testing and Financial Stability Perspective - Recent EU and USA Stress Testing Key Results & Implications 15:00 - 15:30 Coffee Break 15:30 - 17:00 Session 4 Guiding Principles on Stress Testing for IIFS - Governance Aspects of the Stress Testing Framework - Identification of Risk Factors and Coverage of Scenarios - Specific Elements of IIFS in Stress Testing - Stress Testing Methodologies FSAP and Stress Testing Day 4 29/11/2012 IFSB-FIS WORKSHOP DAY FOUR 09:30 - 11:00 Session 1 Guiding Principles on Stress Testing for IIFS (Cont’d) - Stress Testing Methodologies - Frequency of Stress Testing - Outputs of Stress Testing and Remedial Actions - Disclosure of the Stress Testing Programme 11:00 - 11:30 Coffee Break 11:30 - 13:00 Session 2 Live Simulations and exercises on: - How to conduct “Micro level (or IIFS level) Stress Testing” - Factors and scenarios to consider for Micro Stress Testing - Exercises/Case Studies on Stress Testing for Selected IIFS - Different IIFS’ portfolios related Stress Testing - Capital Requirements Stress Testing - Credit risk related Stress Testing - Liquidity (i.e. funding and/or market liquidity) Risk Related Stress Testing - Shari’ah non-compliance Stress Testing under Operational Risk - Profitability related Stress Testing 13:00 - 14:00 Lunch & Prayer 14:00 - 15:30 Session 3 Guiding Principles on Stress Testing for Supervisory Authorities - Regular and Comprehensive Assessments of IIFS' Stress Testing - Supervisory Evaluation of an IIFS's Stress Testing Methodology - Designing and

The Workshops are hosted by the Central Bank of Sudan Participation is BY INVITATION only. For more information on the Workshops, please email Mrs. Azizakhon Yarlaeva at [email protected] Programme - Event Session(s) Date Time Topics Day 1 29/01/2013 08:45 - 09:00 Opening Remarks by the IFSB 09:00 - 10:30 Session 1: Overview of the Risk Management for the IIFS Islamic Finance: Concept and Contracts and Risks Implication for IIFS Overview of Prudential Issues in IIFS Credit Risk Equity Investment Risk Operational Risk Market Risk Liquidity Risk Rate of Return Risk 10:30 - 11:00 Coffee Break 11:00 - 12:30 Session 2: Guiding Principles on Liquidity Risk Management for IIFS Funding and Market Liquidity Risk Necessary Conditions for an Effective Liquidity Risk Management in IFSI Governance Structure: Role of the Board of Directors and Senior Management Identification of Liquidity Risk Interactions of Liquidity Risk and Implications of Islamic Financing Contracts Case Study 12:30 - 13:00 Coffee Break & Prayers 13:00 - 14:30 Session 3: Guiding Principles on Liquidity Risk Management for IIFS Measurement of Liquidity Risk Diversification of the Funding Base Consolidated Management of Liquidity Risk Maintaining High-Quality Liquidity Buffer Preparing a Contingency Funding Plan Managing Sharī`ah-Compliant Collateral Case Study 14:30 - 15:30 Lunch Day 2 30/01/2013 09:00 - 10:30 Session 4: Guiding Principles on Liquidity Risk Management for IIFS Collaboration Between IIFS Meeting Payment and Settlement System Obligations Foreign Exchange Liquidity Risk Reporting and Disclosure of Liquidity Risk Group Discussion 10:30 - 11:00 Coffee Break 11:00 - 12:30 Session 5: Guiding Principles on Liquidity Risk Management for Supervisory Authorities Responsibility for Supervision of Liquidity Risk & Need for Supervisory Regulations Supervisors Role as Provider of Liquidity Support Supervision of Liquidity Risk at Consolidated Level Home-Host and Cross-Sector Supervision of Liquidity Risk Contingency Planning Supervisors Role in the Development of Liquidity Infrastructure Appendices: Suggested Metrics and Monitoring Tools Group Discussion 12:30 - 13:00 Coffee Break & Prayers 13:00 - 14:30 Session 6: Understanding Stress Testing for Financial Institutions Stress Testing as a Risk Management Tool Stress Testing and Global Financial Crisis International Guidance on Stress Testing and Gap Analysis IFSB Comprehensive Stress Testing Framework for IIFS Governance Aspects of the Stress Testing Framework Identification of Risk Factors and Coverage of Scenarios 14:30 - 15:30 Lunch Day 3 31/01/2013 09:00 - 10:30 Session 7: Guiding Principles on Stress Testing for IIFS (Cont d) Specific Elements of IIFS in Stress Testing Stress Testing Methodologies Frequency of Stress Testing Outputs of Stress Testing and Remedial Actions Disclosure of the Stress Testing Programme Comprehensive Case Study on Liquidity Risk Stress Testing Group Exercise 10:30 - 11:00 Coffee Break 11:00 - 12:30 Session 8: Stress Testing Solvency Simulation Exercises: How to Conduct Micro Level (or IIFS Level) Stress Testing Capital Requirements Stress Testing Credit Risk and Market Risk Related Stress Testing 12:30 - 13:00 Coffee Break & Prayers 13:00 - 14:30 Session 9: Guiding Principles on Stress Testing for Supervisory Authorities Regular and Comprehensive Assessments of IIFS Stress Testing Supervisory Evaluation of an IIFSs Stress Testing Methodology Designing and Implementing System - Wide Stress Tests and Frequencies Corrective Actions & Regular Supervisory Dialogue with IIFS and the Industry Cross-border Issues and Home - Host Coordination Stress Testing Reporting Disclosures and Format 14:30 - 14:50 Closing Ceremony 14:50 - 15:30 Lunch Downloadable Document(s) 1.) Event Session(s) - PDF Format