Workshop

 All IFSB Members Date: Wednesday, 23 June 2021 Time: 4:30 – 6:30 Kuala Lumpur Time Sector: Islamic Banking Topics: IFSB-12: Liquidity Risk Management (Guiding Principles for IIFS) Effective liquidity risk management is crucial for any financial institutions. Different types of external events, financial upheavals and market developments have increased the complexity of liquidity risk management process and its requirements. It has become even more challenging for Institutions offering Islamic Financial Services (IIFS).  IFSB-22 Guiding Principles on Liquidity Risk Management for IIFS standard sets out principles for the robust management of liquidity risk by IIFS, including its vigorous supervision and monitoring by the supervisory authorities. Besides providing guidance on prudential aspects related to liquidity risk management in IIFS, this document outlines necessary elements of effective liquidity risk management in the Islamic financial services industry. Within this session your facilitator will cover the main steps of the liquidity risk management process taking into consideration the specificities of the IIFS, as well as liquidity risk’s interactions and implications of Islamic financing contracts. The role of Board of Directors and Senior Management will also be addressed in establishing responsibilities for liquidity risk management oversight and executing the liquidity risk management strategy. The presentation will be followed by the Case study and Q&A session. ***REGISTRATION IS OPEN FOR MEMBERS ONLY***

ALL IFSB MEMBERS Date: Thursday, 15 July 2021 Time: 4:30 – 6:30 (Kuala Lumpur Time) Sector: Islamic banking Topics: GN-7: Guidance Note on Shari’ah-compliant Lender-Of-Last-Resort (SLOLR Facilities) Liquidity availability and smooth functioning of the payments system are considered as core objectives of any regulatory and supervisory authority for the banking sector. The global financial and economic crisis underscored the importance of well-designed financial safety nets, particularly crisis prevention strategies, as part of a comprehensive regulatory and supervisory framework to ensure the soundness and stability of the financial system. Lender-of-last-resort (LOLR) facilities represent one of the specific instruments and preventive strategies available to central banks, to allow liquidity to be extended to one or more temporarily “illiquid but solvent” financial institutions, at their discretion and in exceptional circumstances. However, conventional LOLR facilities normally depend on interest-bearing loans or instruments, and therefore cannot appropriately be extended to institutions offering Islamic financial services. IFSB’s Guidance note GN-7 considers how Shari`ah-compliant lender-of-last-resort (SLOLR) mechanisms might be conceived and used. Within this online FIS workshop, IFSB Secretariat would like to discuss concept of the SLOLR mechanism and focus on Shari’ah-compliant contracts used to support SLOLR, as well as on required disclosures by central banks. ***REGISTRATION OPEN TO MEMBERS ONLY***

 All IFSB Members Date: Monday, 26 July 2021 Time: 4:30 – 6:30 (Kuala Lumpur Time) Sector: Islamic Capital Markets Topics: Islamic Collective Investment Schemes (ICIS): Disclosures and Shari’ah Compliance Requirements  (IFSB-19) Islamic mutual funds, Islamic investment funds, Islamic real estate investment trusts – these are all (depending on jurisdiction) types of Shari’ah-compliant collective investment schemes or Islamic Collective Investment Schemes (ICIS). ICIS can play an important role, channelling resources to the securities markets and offering Shari’ah-sensitive investors a means to achieve diversified exposure to Shari’ah-compliant investment opportunities. This online FIS workshop session brings information on what makes ICIS disclosure on Shari’ah governance and compliance sufficient to allow Shari’ah-sensitive investors to make an informed investment decision. Within this workshop facilitator will focus on background information on ICIS, Shari’ah and Operations-related disclosures and other general principles.     ***REGISTRATION OPEN TO MEMBERS ONLY***

FOR ALL IFSB MEMBERS Date:       22-23 September 2021 (Wednesday-Thursday) Time:       4:30 – 6:30 pm (MYT) Sector:    Islamic banking Topic:      Stress testing in Islamic banks according to the IFSB standards Overview Stress testing has become widely used by Islamic financial institutions and regulators to identify financial sector vulnerabilities, influence and support policy decisions affecting the financial system and individual institutions, besides supporting and guiding financial institutions’ own risk management. Conducting stress testing regularly has become a central tool for enhancing the resilience and stability of the banking system. Considering the many aspects of stress testing, the IFSB Secretariat invites you to participate in two- days e-workshop dedicated to this topic. During the two-day workshop, the IFSB facilitator will present an overview for stress testing in the Islamic finance industry and the basic requirements and methodologies for these tests within Islamic banks. This will be followed by an introduction to solvency and liquidity stress tests and a sample case study. The deeper understanding for stress testing through this workshop should enable participants to better apply their knowledge and understand stress testing principles and their applications. ***REGISTRATION IS OPEN FOR MEMBERS ONLY***

2021 年 10 月的 FIS 研讨会 对于所有 IFSB 成员 日期：2021年10月13日（星期三） 时间：下午 4:30 – 6:30（马来西亚时间） 部门：回教保险 主题：IFSB-14：回教保险（伊斯兰保险）企业的风险管理标准 概述 IFSB 发布了一些专门针对伊斯兰保险业的标准，以努力引导该行业走向稳定和健康的金融环境。 本 IFSB-14 标准旨在建立风险管理领域的最低标准，为伊斯兰保险经营者以及保险/伊斯兰保险监管者提供指导和指导。 会议将讨论如何实施回教保险业务固有的风险管理，以将回教保险行业提升到理想的有效监督和监管水平，与传统保险行业相提并论，传统保险行业始终遵循伊斯兰教法原则的要求. 本次讨论的中心重点是从风险管理的角度讨论回教保险的具体特征，以及与回教保险特别相关的重大风险。 主持人将帮助您了解企业风险管理框架、风险基金的所有权以及风险治理。 研讨会还将提供相关案例研究的介绍和问答，以增进参与者之间的理解。 ***注册只对会员开放***

This FIS Workshop is tailored for National Insurance Commission of Nigeria – NAICOM as part of IFSB’s implementation tools offered as membership benefits which are available to all members upon request. The 2-day workshop covers IFSB-8: Guiding Principles on Governance for Takaful Undertakings and IFSB-11: Standard on Solvency Requirements for Takaful Undertakings.

This FIS Workshop is tailored for the National Bank of Tajikistan as part of IFSB’s implementation tools offered as membership benefits which are available to all members upon request.   The 3-day workshop covers IFSB-15: Revised Capital Adequacy Standard and IFSB-16: Revised Guidance on Key Elements in The Supervisory Review Process.

This FIS workshop is tailored for the Securities and Exchange Commission of Pakistan (SECP) as part of IFSB’s implementation tools offered as membership benefits that are available to all members upon request. The 2-day workshop covers two standards namely IFSB-19: Guiding Principles on Disclosure Requirements for Islamic Capital Market Products (Sukuk and Islamic Collective Investment Schemes – ICIS) and IFSB-24: Guiding Principles on Investor Protection in Islamic Capital Markets

This workshop is dedicated for the "Core Principles for Effective Islamic Deposit Insurance Systems" which is a mutual standard between IFSB and International Association of Deposit Insurance (IADI) issued in 2021. The standard covers topic related to Islamic deposit insurance such as public policy objectives, governance, relations with other safety net participants, cross-border issues, coverage, public awareness among other topics. It also addresses specificities of Islamic deposit insurance and key considerations for Investment Accounts.   The 1-day online workshop is open to all IFSB members for free as part of their membership benefits. The outline of the workshop is as follows: 1-  The need for the standard on Core Principles for Effective Islamic Deposit Insurance Systems (CPIDIS) 2- Required Islamic finance infrastructure for Islamic Deposit Insurance Systems (IDIS) 3- Discussion on 17 CPIDIS and mapping the International Association of Deposit Insurers’ Core Principles 4- Shariʻah Requirements and Specificities for IDIS Design 5- Key Considerations for Investment Accounts under an IDIS   The workshop will be conducted from 3.30 pm to 6.30 pm (Kuala Lumpur time). Registration can be done through the following link: bit.ly/3JLDzsN

This workshop is dedicated for IFSB-26: Core Principles for Islamic Finance Regulation (Financial Market Infrastructures). The standard presents overview of the key risks in Financial Marker Infrastructure (FMI) along with core principles for aspects related to the regulation of FMI such as legal basis, governance and Shariah governance, risk management, collateral, money settlements, physical deliveries, efficiency and effectiveness, disclosure, among others. The 1-day online workshop is open to all IFSB members for free as part of their membership benefits. The outline of the workshop is as follows: 1- Introduction to the standard 2- Key risks for Islamic Financial Market Infrastructures (FMIs) 3- Discussion on 25 Core principles for Islamic Finance Regulation The workshop will be conducted from 3.30 pm to 6.30 pm (Kuala Lumpur time). Registration can be done through the following link: bit.ly/3gZNwpV

This workshop is dedicated for IFSB-23 which is the new capital adequacy standard issued in December 2021 as a revision to IFSB-15 issued in 2013.  The standard covers topics related to capital adequacy requirements and macroprudential measures, regulatory capital, principles for minimum capital requirements in line with Basel 3, among other topics.  The workshop is supposed to cover the following: 1- The rationale behind revising IFSB-15 on capital adequacy 2- Key changes in IFSB-23 compared to IFSB-15. The workshop will be conducted from 5.00 pm to 7.30 pm (Kuala Lumpur time). Registration is open to all IFSB members and can be done through the following link:BIT.LY/3H4MN75

This tailor-made workshop is dedicated for the Central Bank of Philippines (Bangko Sentral Ng Philipinas) to discuss several IFSB standards and other topics related to Islamic banking, Islamic capital markets, and takaful. The 4-day workshop is supposed to cover the following topics: 1- Core principles for Islamic finance regulation. 2- Sharia-compliant lender of last resort. 3- Digital transformation in Islamic banking. 4-Industry Practices of Structuring Islamic Liquidity Instruments and Islamic Banking products. 5- Disclosure Requirements for Islamic Capital Markets (Sukuk). 6- Key Elements in the Supervisory Review Process (SRP) of Takaful/ Retakaful Undertakings. The workshop is part of the IFSB members' benefits as a tool to facilitate the implementation of IFSB standards.