Islamic Financial Services Board

2nd Working Group Meeting of Disclosures To Promote Transparency And Market Discipline For Takaful / Retakaful Undertakings
2019-01-17 | Kuala Lumpur, Kuala Lumpur, Malaysia, Malaysia

Facilitating the Implementation of the IFSB Standards (FIS) Workshop
2019-01-14 08:30 - 2019-01-17 16:00 UTC | Bishkek, Bishkek, Bishkek, Kyrgyzstan
This 4-day Workshop is tailored for the National Bank of the Kyrgyz Republic. It will discuss the following IFSB Standards:

IFSB-17
Core Principles for Islamic Finance Regulation (Banking Segment)

IFSB-15
Revised Capital Adequacy Standard for Institutions Offering Islamic Financial Services (IIFS)

IFSB-12
Guiding Principles on Liquidity Risk Management for IIFS

IFSB-03
Guiding Principles on Corporate Governance for IIFS

IFSB-10
Guiding Principles on Sharī`ah Governance Systems for IIFS

This Workshop aims to:

Enhance the participants’ understanding of the respective Standards and Guiding Principles thereby facilitating the implementation of these standards in their respective jurisdictions;
Assist the participants in the practical application of issues addressed in the particular standards through case studies, hands-on exercises and other interactive tools; and
Promote the sharing of experiences among the participants on the implementation of respective IFSB Standards and Guiding Principles.

For queries, please contact the IFSB Secretariat, Mr. Esam Osama Al-Aghbari at Esam@ifsb.org.
Programme – Event Session(s)

Date
Time
Topics

Day 1
14/01/2019
08:30 – 09:30
Registration, Opening, Welcoming Address and Group Photo

09:30 – 11:00
Session 1 – IFSB-17 : Core Principles for Islamic Finance Regulation (Banking Segment)

11:30 – 13:00
Session 2 – IFSB-17 : Core Principles for Islamic Finance Regulation (Banking Segment)

14:00 – 16:00
Session 3 – IFSB-17 : Core Principles for Islamic Finance Regulation (Banking Segment)

Day 2
15/01/2019
09:30 – 11:00
Session 4 – IFSB-15 : Revised Capital Adequacy Standard for IIFS

11:30 – 13:00
Session 5 – IFSB-15 : Revised Capital Adequacy Standard for IIFS

14:00 – 16:00
Session 6 – IFSB-15 : Revised Capital Adequacy Standard for IIFS

Day 3
16/01/2019
09:30 – 11:00
Session 7 – IFSB-15 : Revised Capital Adequacy Standard for IIFS

11:30 – 13:00
Session 8 – IFSB-15 : Revised Capital Adequacy Standard for IIFS

14:00 – 16:00
Session 9 – IFSB-12 : Guiding Principles on Liquidity Risk Management of IIFS

Day 4
17/01/2019
09:30 – 11:00
Session 10 – IFSB-12 : Guiding Principles on Liquidity Risk Management of IIFS

11:30 – 13:00
Session 11 – IFSB-3 : Guiding Principles on Corporate Governance for IIFS

14:00 – 16:00
Session 12 – IFSB-10 : Guiding Principles on Sharī`ah Governance System for IIFS

IFSB-Bank Indonesia Joint Seminar and Workshop on Financial Inclusion
2018-12-11 08:30 - 17:00 | Diamond Room 3 & 4 Grand City Convention and Exhibition Hall, Jl. Gubeng Pojok No.1, Ketabang, Kec. Genteng, Surabaya, Indonesia
The program targets to improve participants understanding on financial inclusion activities in Islamic finance that will support poverty alleviation and income generation objectives of jurisdictions. Market players and service providers will also gain insights into the operational and regulatory considerations for offering Shari’ah-compliant inclusive finance products and services.
The Joint Seminar and Workshop is free of charge.
Event Snapshots

Programme – Event Session(s)

Date
Time
Topics

Day 1
11/12/2018
08:30 – 09:00
Registration and Networking

09:00 – 09:30
Opening and Welcoming Remarks

09:30 – 09:45
Keynote Address

09:45 – 10:00
Coffee Break and Networking

10:00 – 12:00
Session 1: Panel Discussion on Unlocking Economic Opportunities and Enabling Livelihood Creation: The Islamic Finance Proposition What are practical measures and modalities through which Sharīʿah-compliant financial inclusion activities can enable jobs and wealth creation in various jurisdictions? How have these modalities been implemented in practice (i.e. specific case studies based on real examples) and what were the challenges faced in these initiatives and measures adopted to address them? How could regulators and standard setting bodies support these measures along with an analysis on the operational matters as well as other legal/intra-jurisdictional cooperation issues that will support smooth implementation of various policies?

12:00 – 13:30
Lunch and prayers

13:30 – 16:30
Session 2: Workshop on Approaching Financial Inclusion through Islamic Finance: Challenges, Opportunities and Solutions Approach to financial inclusion activities in Islamic finance, including Islamic microfinancing, SME financing, Islamic social finance and its integration with commercial Islamic finance Specificities of Islamic financial inclusion activities as well as other operational requirements by service providers that offer Islamic financial inclusion products Role of technology to support financial accessibility Regulatory and legal considerations for offering Shariah-compliant financial inclusion products and services Success factors and challenges in promoting financial inclusion for greater shared prosperity and economic growth

16:30 – 17:00
Coffee and Networking

33rd Islamic Financial Services Board (IFSB) Council Meeting and Side Events
2018-12-05 - 2018-12-06 | Jeddah, Jeddah, Saudi Arabia, Saudi Arabia
The details of the event are as follows:

Wednesday, 5 December 2018

Roundtable on Technical Note on Financial Inclusion (TN-3)
IFSB Members and Industry Engagement Session
Welcome Dinner and 18th Islamic Financial Stability Forum hosted by the Saudi Arabian Monetary Authority

Thursday, 6 December 2018

33rd IFSB Council Meeting

Participation in the 33rd IFSB Council Meeting and Welcome Dinner is by invitation only. For enquiries, please email Ms. Nissa at khairun.nissa@ifsb.org

All other events are OPEN to ALL INTERESTED PARTIES. Please email your enquiries to Mrs. Ida Shafinaz at ida.shafinaz@ifsb.org

The IFSB and IsDB look forward to welcoming members of the IFSB and Islamic finance industry stakeholders to Jeddah, Saudi Arabia.

Event Snapshots

Programme – Event Session(s)

Date
Time
Topics

Day 1
05/12/2018

ROUNDTABLE ON TECHNICAL NOTE ON FINANCIAL INCLUSION (TN-3)
IFSB MEMBERS AND INDUSTRY ENGAGEMENT SESSION
WELCOME DINNER AND 18TH ISLAMIC FINANCIAL STABILITY FORUM

08:30 – 09:00
Registration and Welcome Coffee

09:00 – 12:00
Roundtable Session

12:00 – 13:30
Prayer and Lunch

13:30 – 15:00
IFSB Members and Industry Engagement Session

19:30 – 21:30
Welcome Dinner and 18th Islamic Financial Stability Forum

Day 2
06/12/2018

33RD IFSB COUNCIL MEETING

08:30 – 12:15
33rd Council Meeting

12:10 – 13:10
Prayer and Lunch

13:10 – 15:45
Continuation of the 33rd Meeting of the Council of the IFSB

46th IFSB Technical Committee Meeting
2018-11-14 09:30 - 17:30 | Abu Dhabi, Abu Dhabi, Abu Dhabi, United Arab Emirates
46th IFSB Technical Committee Meeting is scheduled to be held as follows:

Date: 14 November 2018

Time: 9:30am – 5:30pm

Venue: Abu Dhabi, United Arab Emirates

Participation in the meeting is by invitation only. For more information please email to: khairun.nissa@ifsb.org

IFSB-IILM-IIFM Joint-Seminar on Islamic Capital Markets
2018-11-13 | Auditorium, Level 3, Abu Dhabi Global Market (ADGM) Building, ADGM Square, Al Maryah Island, Island - ADGM Authorities Building - Al Maryah Island - Abu Dhabi Global Market Square, Abu Dhabi, United Arab Emirates
Theme: Fostering Economic Development and Strengthening Financial Sector Resilience: The Role of Islamic Capital Market Instruments
The program intends to facilitate an informed understanding of the participants regarding modern ICM instruments beyond traditional products and their use and role in supporting various developmental and economic/financial aspirations of a jurisdiction. The participants will also benefit through the cross-generation of ideas amongst the seminar audience to identify new innovations in the ICM to further streamline its adoption while also discussing practical measures to address any existing limitations restricting the widespread use and implementation of ICM instruments. Market players and service providers will also gain insights into the operational, Shari’ah and regulatory considerations for offering ICM products and services.
For more information please email Mrs. Ida Shafinaz Ab. Malek at ida.shafinaz@ifsb.org

Event Snapshots

Programme – Event Session(s)

Date
Time
Topics

Day 1
13/11/2018
08:00 – 08:30
Registration and Networking

08:30 – 08:50
Welcoming and Opening Remarks

08:50 – 09:20
Special Presentation

09:20 – 10:00
Coffee Break and Networking

10:00 – 11:30
Session 1: Panel Discussion on Sukuk – Have We Realised Its True Potential? Progresses made and milestones accomplished to-date in the global Sukuk market Diverse users of Sukuk to meet various economic, developmental and financial needs Issues that remain unaddressed or that are limiting full utilization of Sukuk as an instrument supporting diverse economic and financial needs Efforts to promote harmonization in Sukuk structures to encourage wider cross-border issuances New innovative Sukuk structures utilized for various fund-raising activities Specific case studies and country showcase/presentation on Sukuk market

11:30 – 13:00
Session 2: Panel Discussion on Supporting New Liquidity Regulations – The Role of ICM Instruments New post-crisis liquidity regulations applicable upon financial institutions The challenges in provision of Shari?ah-compliant high-quality liquid assets (HQLA) that satisfy the new regulatory requirements The role of ICM, and Sukuk in particular, to meet these liquidity regulations Shari?ah-compliant structures that can be utilised to issue tradable liquidity management instruments Efforts and opportunities to list and trade ICM instruments in exchanges/bourses Case study examples on liquidity management programmes initiated by specific jurisdictions

13:00 – 14:30
Lunch and Networking

14:30 – 16:00
Session 3: Panel Discussion on The Optimal Balance: Products Innovation, Shariah Requirements, Consumer Protection and Other Regulatory Considerations Various ICM products including equities, Sukuk, Islamic collective investment schemes (ICIS), hedging products, specialised ICIS, asset securitisations, etc. The introduction of FinTech in the ICM (e.g. p2p operators, crowdfunding platforms, robo-advisers, etc) Potential issues of consumer protection, Shari?ah requirements and other regulatory considerations Specific case studies on FinTech products and regulatory sandboxes to encourage innovation and development Future directions for the efficient and smooth innovation, growth and development of the ICM

10th Task Force Meeting on Prudential and Structural Islamic Finance Indicators (PSIFIs)
2018-11-07 09:30 - 2018-11-08 17:30 | Meeting Room 2, Level 4, Lanai Kijang, Meeting Room 2, Level 4, Lanai Kijang, Kuala Lumpur, Malaysia
The 10th Task Force Meeting on Prudential and Structural Islamic Finance Indicators (PSIFIs) is scheduled to be held as follows:

Date : 7 – 8 November 2018 (2 days)

Time : 9:30am – 5:30pm

Venue : Meeting Room 2, Level 4, Lanai Kijang, Jalan Berjasa, 50480 Kuala Lumpur, Malaysia

Participation in the meeting is by invitation only. For more information please email to Ms. Nissa at khairun.nissa@ifsb.org

IFSB Executive Forum - Effective Risk Management Oversight and Governance of Islamic Banks
2018-10-29 - 2018-10-30 | Training Room 3.1 & 3.2, Level 3, Sasana Kijang, Training Room 3.1 & 3.2, Level 3, Sasana Kijang, Kuala Lumpur, Malaysia
Themed “Effective Risk Management Oversight and Governance of Islamic Banks”, the IFSB Executive Forum which is targeted at Board of Directors and senior management aims to:

Identify the emerging issue in risk management oversight and governance of Islamic banks for the board of directors and senior executives
Discuss and share experiences related to governance and oversight of the management of core risk areas, particularly the specific risk aspects of Islamic banks relating to credit, operational, liquidity and market risks as well as Shariah and legal risks in documentation and structuring of Islamic finance products
Identify relevant features, criteria, policies and regulation pertaining to risk issues in Islamic banks, current challenges in risk oversight and governance of Islamic banks, in the context of best practices and principles/Standards for effective management and governance of Islamic bank

At the end of the 2-day Executive Forum, participants will be able to achieve a greater understanding of risk oversight and governance issues for effective risk management of Islamic banks through shared industry experiences and best practices, and the application of relevant IFSB Standards.

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

Event Snapshots

Programme – Event Session(s)

Date
Time
Topics

Day 1
29/10/2018
08:30 – 09:30
Networking Coffee and Registration

09:30 – 09:45
Opening and Welcoming Remarks

09:45 – 10:00
Introduction to the IFSB

10:00 – 11:00

Session 1: Risk Governance of Islamic Banks and Regulatory Compliance (Moderated Session)
What are the prevalent practices and critical challenges in oversight of risk management, by the BOD and senior management? What are the new perspectives, industry trends and opportunities for effective governance of risk management for Islamic banks? What are the key considerations in complying with global regulatory requirements?

11:00 – 11:30
Group Photo and Coffee Break

11:30 – 13:00

Session 2: Case Studies on Oversight of Operational, Sharīʿah-compliance and Legal Risks: Issues and Challenges
What is the impact of the evolving operational risk profile of financial institutions? What are the unique oversight challenges for Sharīʿah non-compliance risk management? What is the impact of legal frameworks on product development for Islamic banks? What are the implications of non-robust Sharīʿah and legal frameworks? How can the BOD and senior management overcome compliance challenges in the above respects and strengthen their internal control systems?

13:00 – 14:30
Lunch and Prayers

14:30 – 16:00

Session 3: Risk Governance and Oversight: Role of the Board and Risk Committee.
How can the elements of governance, risk and compliance be integrated towards more effective BOD oversight? What are the considerations in setting the BOD?s expectations for risk management and internal controls? How do you effectively assess the performance of chief risk officers and internal audit functions? How do you minimise the overlaps in responsibilities of the Governance, Risk Management and Audit Committees?

16:00 – 16:30
Coffee and Refreshments

Day 2
30/10/2018
08:30 – 09:30
Networking Coffee

09:30 – 10:00
IFSB Presentation on PSIFIs

10:00 – 11:00

Session 4: Case Studies on Oversight of Financial Risk Management: Credit, Market, Liquidity and Equity Risks of Islamic Banks
Introductory presentation: Global Perspectives and IFSB Standards Case studies and experience sharing: How do the specific risk features for Islamic banks impact governance? What are the unique considerations and challenges faced in governance structures for oversight of financial risk management of Islamic banks? What are the challenges faced in complying with regulatory requirements for financial risks?

11:00 – 11:30
Coffee Break

11:30 – 13:00

Session 5: Role of Transparency and Disclosure in Effective Risk Governance (Panel Discussion)
What is the link between effective risk governance and a robust transparency and disclosure environment? What are the new regulatory requirements and how do they impact Islamic banks? (Basel III/IFSB disclosure Standards/Others) What are the challenges faced by institutions in complying with new disclosure regimes and reporting requirements? How can the BOD and senior management contribute to improvements in transparency and disclosure of Islamic banks?

13:00 – 14:30
Lunch

14:30 – 16:00

Session 6: Panel Discussion: The Next Phase in Risk Management and Governance for Islamic Banks
What has changed? What are the emerging challenges and trends? What areas should the BOD focus on? What are the barriers to effective risk oversight of Islamic banks for the BOD and senior management? What is the forward vision and emerging best practices in addressing the key risk governance issues?

16:00 – 16:30
Closing & Certificate Giving Ceremony

Downloadable Document(s)

Event Session(s) – PDF Format
Brochure – IFSB Executive Forum

2nd Meeting of the Core Principles for Islamic Finance Regulation: Effective Islamic Deposit Insurance Systems (CPIFR-IDIS) Working Group
2018-10-25 09:30 - 17:00 | Jakarta, Jakarta, Indonesia, Indonesia
2nd Meeting of the Core Principles for Islamic Finance Regulation: Effective Islamic Deposit Insurance Systems (CPIFR-IDIS) Working Group is scheduled to be held as follow:

Date : 25 October 2018

Time : 9:30am – 5:00pm

Venue : Jakarta, Indonesia

1st Meeting of the Working Group on Disclosures to Promote Transparency and Market Discipline for Takāful / Retakāful Undertakings
2018-10-24 09:00 - 17:00 | Karachi, Karachi, Karachi, Pakistan
1st Meeting of the Working Group on Disclosures to Promote Transparency and Market Discipline for Takāful / Retakāful Undertakings is scheduled to be held as follow:

Date : 24 October 2018

Time : 9:00am – 5:00pm

Venue : Karachi, Pakistan ( Actual venue will be advise in due course)

6th Meeting of the Task Force on Technical Note on Financial Inclusion
2018-10-23 09:00 - 17:00 | Karachi, Karachi, Karachi, Pakistan
6th Meeting of the Task Force on Technical Note on Financial Inclusion that is scheduled to be held as follow:

Date : 23 October 2018

Time : 9:00am – 5:00pm

Venue : Karachi, Pakistan ( Actual venue will be advise in due course)

Pakistan Islamic Finance Industry Engagement Session
2018-10-22 09:00 - 16:30 | Pearl Continental, Club Rd، opposite PIDC, Civil Lines, Karachi, Pakistan
The Pakistan Islamic Finance Industry Engagement Session is an initiative by the IFSB Secretariat to provide an interactive platform for communication between the various Islamic financial services industry stakeholders and the IFSB Secretariat.

In this one-day session, the IFSB will provide an update on the progress and developments of the global Islamic financial services industry, and enable the participants to interact and exchange views on the prospects and challenges of Islamic finance in Pakistan, in-line with the workstream and mandate of the IFSB. Participants will also benefit from a thematic technical workshop which will feature discussions on recent innovations in Sukuk structures and its utilisation by the Islamic financial services industry.

Programme – Event Session(s)

Date
Time
Topics

Day 1
22/10/2018
09:00 – 09:30
Registration

09:30 – 09:45
Welcoming Address SPEAKER: H.E. Tariq Bajwa, Governor – State Bank of Pakistan

09:45 – 10:10

Presentation on Global Islamic Finance and the IFSB
SPEAKER: Dr. Bello Lawal Danbatta, Secretary-General, IFSB

10:10 – 11:00

Interactive Session on Islamic Finance in Pakistan: Issues, Challenges and the Way Forward
SPEAKERS Dr. Bello Lawal Danbatta, Secretary-General, IFSB Mr. Zahid ur Rehman Khokher, Assistant Secretary-General, IFSB Mr. Ghulam Muhammad Abbasi, Director – Islamic Banking Department, State Bank of Pakistan

11:00 – 11:30
Coffee Break

11:30 – 13:00

Thematic Workshop – Session 1: Introduction to Sukuk: Structures and Utilisation
SPEAKER: Mr. Syed Faiq Najeeb, Head of Standards Development, IFSB

13:00 – 14:30
Lunch and Prayer Break

14:30 – 16:30

Thematic Workshop – Session 2: Recent Innovation and Market Gaps: New Frontiers for Sukuk
SPEAKER: Mr. Syed Faiq Najeeb, Head of Standards Development, IFSB

Downloadable Document(s)

Event Session(s) – PDF Format

The Islamic Development Bank (IsDB) Group Shariah Board Meeting
2018-10-18 09:30 - 17:30 | Muscat, Muscat, Muscat, Oman
The Islamic Development Bank (IsDB) Group Shariah Board Meeting is scheduled to be held as follows:

Date: 18-19 October 2018

Time: 9:30 am – 5:30 pm

Venue: Muscat, Oman

Participation in the meeting is by INVITATION only. For more information please email to: madaa.munjid@ifsb.org

IFSB-BIBF Islamic Finance Executive Programme
2018-10-17 - 2018-10-18 | BIBF Auditorium, Building 1306, 346 Rd 4625, Manama, Bahrain
The 3rd edition IFSB-BIBF Islamic Finance Executive Programme with the theme “Fintech, Regtech and Islamic Finance” will focus on the role of Fintech in the Islamic finance industry, the threats and regulatory challenges that Fintech impose on the industry.

This Islamic Finance Executive Programme aims to address the rise of Fintech in the Islamic finance industry, highlighting both the opportunities and challenges of new Fintech products in the market. The programme will shed light on the new innovative digital products in Islamic finance, the application of Blockchain technology and Shariah opinion in Cryptocurrencies. It will also discusses the role of Regulatory and Supervisory Authorities (RSAs) in regulating Fintech and the need for a wide-ranging reconceptualization of financial regulation in an era of technology-enabled finance, Cybersecurity threats, Consumer Protection measures along with risk management practices by Fintech providers are among the topics that will deliberated by panellists on this programme.

For more information on this Islamic Finance Executive Programme, please email Mrs. Ida Shafinaz Ab. Malek at ida.shafinaz@ifsb.org

Programme – Event Session(s)

Date
Time
Topics

Day 1
17/10/2018
08:30 – 09:30
Morning Coffee and Registration

09:30 – 09:45
Opening & Welcoming Address

09:45 – 11:00
Session 1: Digital Products and Islamic Finance

Innovation and products in the financial industry Product Case Study ? Digital wallets and payment solutions

11:00 – 11:30
Group Photo and Coffee Break

11:30 – 13:00
Session 2: Application of Blockchain in Islamic Finance

Use cases of BlockChain for the financial sector Product Case Study Shariah opinion in Cryptocurrency

13:00 – 14:00
Lunch and Prayers

14:00 – 15:30
Session 3: Moderated Session: Regulatory and Legal Framework for Fintech

Role of Regulatory and Supervisory Authorities (RSAs) Challenges in regulating Fintech Providers and stakeholders involved Specific country experience in regulating Fintech Sufficient resources to supervise Fintech companies

15:30 – 16:00
Coffee Break and Networking

Day 2
18/10/2018
08:30 – 09:30
Morning Coffee

09:30 – 11:00
Session 4: Fintech and Risk Management

Impact of Fintech strategies on the management of risks by financial institutions

11:00 – 11:30
Coffee Break

11:30 – 13:00
Session 5: Cybersecurity Threats and Protection of Financial Assets and Consumer Protection in Fintech

Cybersecurity and key threats to financial stability Mechanisms used by Fintech providers to deal with cyber incidents Role of regulators to deal with cyber incidents Protection of Consumer Data and Privacy Financial Education and Awareness Disclosure and Transparency Protection of Consumer Assets against Fraud and Misuse

13:00 – 14:00
Lunch and Prayers

14:00 – 16:00
Session 6: Panel Discussion on Digitization of the insurance industry and learnings for the Takaful industry

Innovation and new products in the insurance industry Creating a seamless experience for customers Learnings for the Takaful sector

16:00 – 16:30
Closing & Certificate Giving Ceremony

16:30 – 17:00
Coffee Break

Downloadable Document(s)

Event Session(s) – PDF Format

IFSB-FIS Workshop for Regulatory and Supervisory Authorities (ICM Sector)
2018-10-09 - 2018-10-11 | Sasana Kijang, Bank Negara Malaysia, Kuala Lumpur, Malaysia
This 3-day Facilitating the Implementation of the IFSB Standards (FIS) Workshop is tailored for the regulatory and supervisory authorities for the Islamic Capital Market (ICM) sector.

Participation in this Workshop is opened to REGULATORS only.

In general, this Workshop aims to:

Enhance the participants’ understanding of the respective Standards and Guiding Principles thereby facilitating the implementation of these standards in their respective jurisdictions;
Assist the participants in the practical application of issues addressed in the particular standards through case studies, hands-on exercises and other interactive tools; and
Promote the sharing of experiences among the participants on the implementation of respective IFSB Standards and Guiding Principles.

For queries, please contact the IFSB Secretariat, Mr. Mr. Esam Osama Al-Aghbari at Esam@ifsb.org.

IFSB-FIS Workshop for Regulatory and Supervisory Authorities (Takaful Sector)
2018-10-09 - 2018-10-11 | Sasana Kijang, Bank Negara Malaysia, Kuala Lumpur, Malaysia
This 3-day Facilitating the Implementation of the IFSB Standards (FIS) Workshop is tailored for the regulatory and supervisory authorities for the Takaful sector.

In general, this Workshop aims to:

Enhance the participants’ understanding of the respective Standards and Guiding Principles thereby facilitating the implementation of these standards in their respective jurisdictions;
Assist the participants in the practical application of issues addressed in the particular standards through case studies, hands-on exercises and other interactive tools; and
Promote the sharing of experiences among the participants on the implementation of respective IFSB Standards and Guiding Principles.

For queries, please contact the IFSB Secretariat, Mr. Esam Osama Al-Aghbari at Esam@ifsb.org.

Capacity Building for Market Players (CBM) Workshop (Banking Sector)
2018-10-01 - 2018-10-02 | Training Room 3.1 & 3.2, Level 3, Sasana Kijang, Training Room 3.1 & 3.2, Level 3, Sasana Kijang, Kuala Lumpur, Malaysia
This 2-day Capacity Building for Market Players (CBM) Workshop is tailored for IFSB’s Observer Members who are the market players in the banking sector.

Mr. Ahmed Barakat (email: ahmed.barakat@ifsb.org) is the person in charge of these Workshops and he will be pleased to respond to any enquiries.

The Islamic Development Bank (IsDB) Group Shariah Board Meeting
2018-09-10 09:30 - 2018-09-21 17:30 | Kuala Lumpur, Kuala Lumpur, Malaysia, Malaysia
The Islamic Development Bank (IsDB) Group Shariah Board Meeting is scheduled to be held as follows:

Date: 10-21 September 2018

Time: 9:30 am – 5:30 pm

Venue: Kuala Lumpur, Malaysia

Participation in the meeting is by invitation only. For more information please email to: madaa.munjid@ifsb.org

1st Working Group Meeting on Revised Capital Adequacy Standard for the Islamic Banking Sector
2018-09-03 09:30 - 17:00 | Executive Meeting Room, Level 5 Sasana Kijang Bank Negara, Jalan Dato Onn,, Kuala Lumpur, Malaysia
The 1st Working Group Meeting on Revised Capital Adequacy Standard for the Islamic Banking Sector that is scheduled to be held as follow:

1st Working Group Meeting on Revised Capital Adequacy Standard for the Islamic Banking Sector

Date : 3 September 2018

Time : 9:30am – 5:00pm

Venue : Executive Meeting Room, Level 5 Sasana Kijang Bank Negara, Jalan Dato Onn, Kuala Lumpur Malaysia.

IFSB-FIS Workshop for Regulatory and Supervisory Authorities (Banking Sector)
2018-09-02 - 2018-09-05 | Abu Dhabi, Abu Dhabi, Abu Dhabi, United Arab Emirates
This 4-day Facilitating the Implementation of the IFSB Standards (FIS) Workshop is tailored for the regulatory and supervisory authorities for the banking sector. It will be hosted by the Arab Monetary Fund.
Participation in this Workshop is opened to REGULATORS only.
In general, this Workshop aims to:

Enhance the participants’ understanding of the respective Standards and Guiding Principles thereby facilitating the implementation of these standards in their respective jurisdictions;
Assist the participants in the practical application of issues addressed in the particular standards through case studies, hands-on exercises and other interactive tools; and
Promote the sharing of experiences among the participants on the implementation of respective IFSB Standards and Guiding Principles.

For queries, please contact the IFSB Secretariat, Mr. Esam Osama Al-Aghbari at Esam@ifsb.org.

26th Arabic Editing Committee Meeting
2018-08-27 09:30 - 2018-09-02 17:30 | Kuala Lumpur, Kuala Lumpur, Malaysia, Malaysia
The 26th Arabic Editing Committee Meeting is scheduled to be held as follows:

Date: 27 August – 02 September 2018

Time: 9:30 am – 5:30 pm

Venue: Kuala Lumpur, Malaysia

Participation in the meeting is by invitation only. For more information please email to: madaa.munjid@ifsb.org

IFSB-FIS Workshop Series (Ivory Coast)
2018-07-24 - 2018-07-27 | Abidijan, Abidjan, Abidjan, Côte d'Ivoire
This 5-day Facilitating the Implementation of the IFSB Standards (FIS) Workshop is tailored for Conseil Régional de lEpargne Publique et des Marchés Financiers (CREPMF). It will cover the following IFSB Standards:

Introduction to Islamic Finance
Introduction to Islamic Capital Market (ICM)
IFSB-1: Guiding Principles of Risk Management for Institutions (other than Insurance Institutions) offering only Islamic Financial Services (IIFS)
IFSB-6: Guiding Principles on Governance for Islamic Collective Investment Schemes (ICIS)
IFSB-9: Guiding Principles on Conduct of Business for IIFS
IFSB-15: Revised Capital Adequacy Standard for IIFS – Sukūk and Securitisation
IFSB-19: Guiding Principles on Disclosure Requirements for ICM Products (Sukūk and ICIS)
ED-21: Exposure Draft (ED) on Core Principles for Islamic Finance Regulation (ICM Segment)

Overall, this Workshop aims to:

Enhance the participants’ understanding of the respective Standards and Guiding Principles thereby facilitating the implementation of these standards in their respective jurisdictions;
Assist the participants in the practical application of issues addressed in the particular standards through case studies, hands-on exercises and other interactive tools; and
Promote the sharing of experiences among the participants on the implementation of respective IFSB Standards and Guiding Principles.

Participation in this event is by INVITATION only. For queries, please contact the IFSB Secretariat, Mr. Esam Osama Al-Aghbari Esam@ifsb.org.

Programme – Event Session(s)

Date
Time
Topics

Day 1
23/07/2018
08:30 – 09:00
Registration

09:00 – 09:30
Welcoming Remarks and Group Photo

09:30 – 11:00
Session 1- IFSB-1: Guiding Principles of Risk Management for Institutions offering Islamic Financial Services (IIFS) Understanding of Risks in IIFS Focus on Credit Risk Focus on Operational Risk

11:00 – 11:30
Coffee Break

11:30 – 13:00
Session 2- IFSB-1: Guiding Principles of Risk Management for IIFS (Continued) Focus on Market Risk Focus on Liquidity Risk Case Study

13:00 – 14:30
Lunch and Prayer

14:30 – 16:30
Session 3- IFSB-15: Revised Capital Adequacy Standard for IIFS Features of Sukūk and Securitisation in Sukūk Role of IIFS in Sukūk Securitisation Credit Enhancement and Assets in Securitisation

Day 2
24/07/2018
09:30 – 11:00
Session 4- ED-21: Core Principles for Islamic Finance Regulation (ICM Segment) The Need for Core Principles Principles Relating to the Regulator Principles related to Sharīʻah Governance

11:00 – 11:30
Coffee Break

11:30 – 13:00
Session 5- ED-21: Core Principles for Islamic Finance Regulation (ICM Segment) (Continued) Principles for the Enforcement of Securities Regulation Principles for Issuers Principles for Auditors, Credit Ratings Agencies, and Others

13:00 – 14:30
Lunch and Prayer

14:30 – 16:30
Session 6- ED-21: Core Principles for Islamic Finance Regulation (ICM Segment) (Continued) Principles for Collective Investment Schemes Principles for Market Intermediaries Principles for Secondary and Other Markets

Day 3
25/07/2018
09:30 – 11:00
Session 7 Introduction to Islamic Finance Concept and Framework in Islamic Finance Contracts in Islamic Finance Prudential Issues in IIFS

11:00 – 11:30
Coffee Break

11:30 – 13:00
Session 8- Introduction to Islamic Capital Market (ICM) ICM Development – Issues and Challenges Sukuk: Background, Structures and Issues Islamic Equity Market

13:00 – 14:30
Lunch and Prayer

14:30 – 16:30
Session 9 Introduction to ICM (Continued) ICIS Islamic Hedging Products Case Study

Day 4
26/07/2018
09:30 – 11:00
Session 10- IFSB-6: Governance for Islamic Collective Investment Schemes (ICIS) ICIS Overview Motivating Factors for the Governance of ICIS Guiding Principles on Governance for ICIS

11:00 – 11:30
Coffee Break

11:30 – 13:00
Session 11- IFSB-6: Governance for ICIS (Continued) Compliance with Sharī`ah Rules and Principles Additional Protection for ICIS Investors Case Study

13:00 – 14:30
Lunch and Prayer

14:30 – 16:00
Session 12- IFSB-9: Guiding Principles on Conduct of Business for IIFS Truthfulness, Honesty and Fairness Information About Clients Conflict of Interest and of Duty

Day 5
27/07/2018
09:00 – 10:15

Session 13- IFSB-19: Guiding Principles on Disclosure Requirements for ICM Products (Sukūk and ICIS) Common General Principles General Disclosure Principles Applicable to Sukūk Sharīʻah and Structure-related Disclosures for Sukūk

10:15 – 10:30
Coffee Break

10:30 – 11:30

Session 14- IFSB-19: Guiding Principles on Disclosure Requirements for ICM Products (Sukūk and ICIS) (Continued) Sharīʻah and Operations-related Disclosures for ICIS Specialist ICIS Disclosure Case Study

11:30 – 12:00
Closing Remarks & Certificate Giving Ceremony

12:00 – 15:00
Jumaah Prayer and Lunch

Downloadable Document(s)

Event Session(s) – PDF Format

45th IFSB Technical Committee Meeting
2018-07-19 09:30 - 17:30 | Kuala Lumpur, Kuala Lumpur, Malaysia, Malaysia
45th IFSB Technical Committee Meeting is scheduled to be held as follow:

Date : 19 July 2018

Time : 9:30am – 5:30pm

Venue : Kuala Lumpur Malaysia

Participation in the meeting is by invitation only.

For more information please email to : khairun.nissa@ifsb.org

Event Snapshots

16th General Assembly, 3 May 2018, Kuwait City, Kuwait
2018-05-03 08:00 - 17:00 | Kuwait City, Kuwait City, Kuwait City, Kuwait
The 16th IFSB General Assembly was hosted by the Central Bank of Kuwait.

32nd Council Meeting, 3 May 2018, Kuwait City, Kuwait
2018-05-03 | Kuwait City, Kuwait City, Kuwait City, Kuwait
The Meeting was attended by 19 Governors and Deputy Governors of regulatory and supervisory authorities, and 8 senior representatives from among the Council and Full Members of the IFSB, representing 17 countries and the Islamic Development Bank. The meeting was chaired by H.E. Dr. Mohammad Y. Al-Hashel, Governor of the Central Bank of Kuwait, and IFSB Chairman 2018

IFSB Annual Meetings and Side Events 2018 in Kuwait City, Kuwait
2018-05-01 | Kuwait City, Kuwait City, Kuwait City, Kuwait
In conjunction with the IFSB Annual Meetings 2018 which was held in Kuwait City, Kuwait, the IFSB had organised a series of Side Events which took place from 1 – 2 May 2018, hosted by the Central Bank of Kuwait.

The Annual Meeting started with 10th IFSB Public Lecture on Financial Policy and Stability on 1 May 2018.

Mr. Waleed M. Al-Awadhi, Executive Director, Supervision Sector, Central Bank of Kuwait and Dr. Bello Lawal Danbatta, Secretary General of the IFSB delivered the opening and welcoming remarks respectively.

The event saw two prominent speakers shared their views and discussions on the given topic. The first Lecture was “Financial Stability and Islamic Finance” delivered by Professor Dr. Monzer Kahf, Professor of Islamic Finance and Islamic Economics, Faculty of Islamic Studies, Hamad bin Khalifa University, Doha, Qatar. The second Lecture was on “Islamic Finance Policies: Implications on Industry Stakeholders” delivered by H.E. Emeritus Prof. Dr. Ishrat Husain, Chairman of Centre for Excellence in Islamic Finance (IBA-CEIF) and former Governor, State Bank of Pakistan.

The Lecture was followed by the Members & Industry Engagement Session. The session commenced with the Welcoming Address by Mr. Waleed M. Al-Awadhi who shared the development in Islamic finance industry in Kuwait.

Dr. Bello Lawal Danbatta in his presentation titled “Key Developments in the Global Islamic Finance Industry and the IFSB” shared an update of the industry and the ongoing work of the IFSB in supporting the industry’s stability and resilience. He also shared IFSB’s commitment to further enhance services to the existing members, by prioritising expectations from a recently conducted IFSB Members Expectations Survey.

The session continued with a presentation by Mr. Mamadou Ndiaye, Chairman of Conseil Régional de l’Epargne Publique et des Marchés Financiers (CREPMF), West African Economic and Monetary Union (WAMU), on their experiences as the Capital Market Authority of the WAMU, and their initiative to promote Islamic capital market in the region and forward plan.

An interactive panel discussion moderated by Dr. Bello Lawal Danbatta, and featuring Mr. Mamadou Ndiaye and Assistant Secretaries-General of the IFSB, Mr. Zahid ur Rehman Khokher and Dr. Nagwa Sheikh Eldin, followed. The panelists shared their perspectives in regard to standard-setting agenda, capacity building, implementation levels of the IFSB standards, technical assistance, and the bigger role to be played by the industry in the work and activities of the IFSB. The session ended with valuable questions and feedback by the IFSB members on the implementation of the IFSB standards which the secretariat answered and accepted as positive feedbacks for future improvements of the IFSB implementation strategies.

Over 100 participants attended the Public Lecture and Members & Industry Engagement Session. It was attended by heads and senior representatives of regulatory and supervisory authorities (RSAs) and financial institutions from over 20 countries, among the IFSB members and the Kuwait local financial community.

The third Side event was the CBK-IFSB Conference on Islamic Finance, held on 2 May 2018. Themed “A Universal Proposition”, the Conference aimed to discuss the role that Islamic finance can play in government strategies to build a diversified and sustainable economy and to present a collective way forward for the Islamic finance industry to reach its potential.

The Conference commenced with Plenary Session which saw the opening address delivered by the Representative of His Highness the Amir, H.E. Dr. Nayef Al-Hajraf, Minister of Finance, Kuwait followed by Dr. Bello Lawal Danbatta with his welcome address. The Keynote address was delivered by H.E. Dr. Mohammad Y. Al-Hashel, Governor, Central Bank Kuwait.

The Plenary Session was preceded with four session in which twenty-three moderators and panelists from among regulators and market players sector as well as Sharīʻah scholar discussed the following issues:-

Leveraging Islamic Finance to Build a Diversified and Sustainable Economy
Building a Dynamic and Robust Regulatory Regime
Navigating the Disruptive Eco-Systems
Islamic Finance: What Lies Ahead

More than 500 delegates from 32 jurisdictions among the IFSB member and non-member organisations – representatives from regulatory bodies, market players, international organisations, legal firms as well as academia and other interested parties from the public attended the Conference.

IFSB-FIS Workshop Series (Kazakhstan)
2018-04-23 08:30 - 2018-04-26 16:30 | Rixos President Astana, Kunayeva 7, Astana, Kazakhstan
This 4-day Workshop is tailored for Astana International Financial Centre (AIFC) as well as the regulators and market players from the Commonwealth of Independent States (CIS) countries. This Workshop is made possible by the support of the Asian Development Bank which covers the following IFSB Standards and publications:

Overview of IFSB-17: Core Principles for Islamic Finance Regulation (Banking Segment)
Overview of IFSB-10: Guiding Principles on Sharī`ah Governance Systems for Institutions Offering Islamic Financial Services (IIFS)
IFSB-1: Guiding Principles of Risk Management for IIFS
IFSB-15: Revised Capital Adequacy Standard for IIFS
IFSB-16: Revised Guidance on Key Elements In The Supervisory Review Process of IIFS
GN-6: Guidance Note on Quantitative Measures for Liquidity Risk Management in IIFS

Overall, this Workshop aims to:

Enhance the participants’ understanding of the respective Standards and Guiding Principles thereby facilitating the implementation of these standards in their respective jurisdictions;
Assist the participants in the practical application of issues addressed in the particular standards through case studies, hands-on exercises and other interactive tools; and
Promote the sharing of experiences among the participants on the implementation of respective IFSB Standards and Guiding Principles.

Participation in this Workshop is by INVITATION only. For queries, please contact the IFSB Secretariat, Mr. Hamizi Hamzah at hamizi@ifsb.org.

Programme – Event Session(s)

Date
Time
Topics

Day 1
23/04/2018
08:30 – 09:00
Registration

09:00 – 09:30
Welcoming Remarks and Group Photo

09:30 – 11:30
Session 1- Overview of IFSB-17: Core Principles for Islamic Finance Regulation (Banking Segment) Necessary Preconditions for Effective Supervision Assessment Methodology for CPIFR

09:30 – 11:30
Overview of IFSB-10: Guiding Principles on Shari`ah Governance Systems for IIFS

11:30 – 11:45
Coffee Break

11:45 – 13:15
Session 2 – IFSB-1: Guiding Principles of Risk Management for Institutions offering Islamic Financial Services (IIFS) Understanding of Risks in IIFS Focus on Credit Risk Focus on Equity Investment Risk Focus on Operational Risk

13:15 – 14:15
Lunch and Prayer

14:15 – 16:15
Session 3 – IFSB-1: Guiding Principles of Risk Management for IIFS (Continued) Focus on Market Risk Focus on Liquidity Risk Focus on Rate of Risk Case Study

Day 2
24/04/2018
09:30 – 11:00
Session 4 – IFSB-15: Revised Capital Adequacy Standard for IIFS Capital Adequacy Ratio Components of Capital Treatment of PSIA, PER and IRR Regulatory Adjustments and Deductions

11:00 – 11:30
Coffee Break

11:30 – 13:00
Session 5 – IFSB-15: Revised Capital Adequacy Standard for IIFS (Continued) Credit Risk Weights for Various Counterparties Off-balance Sheet Exposures Exposures in Investments Made under Profit-Sharing Modes Past Due Receivables & Other Assets

13:00 – 14:00
Lunch and Prayer

14:00 – 16:00
Session 6 – IFSB-15: Revised Capital Adequacy Standard for IIFS (Continued) Credit Risk Mitigation Credit Risk Mitigation Techniques Commonly Used by IIFS Credit Risk Mitigation Approaches Recognition of Ratings by External Credit Assessment Institution

Day 3
25/04/2018
09:30 – 11:00
Session 7 – IFSB-15: Revised Capital Adequacy Standard for IIFS (Continued) Understanding the Market Risk in Islamic Finance Policies and Procedures for Market risk Guidance on Valuation Practices Group Exercise

11:00 – 11:30
Coffee Break

11:30 – 13:00
Session 8 – IFSB-15: Revised Capital Adequacy Standard for IIFS (Continued) Overview of Operational Risk Understanding Operational Risk in Islamic Finance Measuring Operational Risks Group Exercise

13:00 – 14:00
Lunch and Prayer

14:00 – 16:00
Session 9 – GN-6: Guidance Note on Quantitative Measures for Liquidity Risk Management Application of the LCR in IIFS Definition and Categorisation of High Quality Liquid Assets (HQLA) Infrastructure Issues in the Availability of Sharī`ah-compliant HQLA Components of Total Net Cash Outflows

Day 4
26/04/2018
09:30 – 11:30
Session 10 – GN-6: Guidance Note on Quantitative Measures for Liquidity Risk Management (Continued) Formula for Calculating NSFR Available and Required Stable Funding Role of Supervisory Authorities Group Exercise

11:00 – 11:30
Coffee Break

11:30 – 13:00
Session 11 – IFSB-16: Revised Guidance on Key Elements In The Supervisory Review Process of IIFS (Continued) Key Elements in the Supervisory Review Process of IIFS Internal Capital Adequacy Assessment Process Islamic Windows Operations Supervisory Transparency and Accountability

13:00 – 14:00
Lunch and Prayer

14:00 – 16:00
Session 12 – IFSB-16: Revised Guidance on Key Elements In The Supervisory Review Process of IIFS (Continued) Governance and Risk Management Transparency and Market Discipline Consolidated and Home-host Supervision

16:00 – 16:30
Closing Remarks & Certificate Giving Ceremony

Public Hearing on the IFSB Exposure Draft
2018-04-10 08:00 - 13:00 | Otoritas Jasa Keuangan (OJK), Jl. M.H. Thamrin No.2, RT.2/RW.3, Gambir, Kecamatan Gambir, Kota Jakarta Pusat, Jakarta, Indonesia
The IFSB will be organising a Public Hearing for EDs 20, 21 and 22 on 10 April 2018 in Jakarta hosted by OJK. The Public Hearing will discuss the following documents:

Key Elements in the Supervisory Review Process of Takāful/ Retakāful Undertakings (ED-20)
Core Principles for Islamic Finance Regulation [Islamic Capital Market Segment] (ED-21)
Revised Standard on Disclosures to Promote Transparency and Market Discipline for Institutions Offering Islamic Financial Services [Banking Segment] (ED-22)

In its 44th meeting held on 22 March 2018 in Bandar Seri Begawan, Brunei Darussalam, the Technical Committee of the Islamic Financial Services Board (IFSB) approved the issuance of three Exposure Drafts (ED) for Public consultation period of 2 months, starting 28 March until 28 May 2018.
The Public Hearing for the ED are also available in webinar. Please choose your preferred attendance.
Programme – Event Session(s)

Date
Time
Topics

Day 1
10/04/2018
08:00 – 08:30
Registration

08:30 – 08:05
Opening Remarks by MC

08:35 – 08:40
Al- Quran Recitation

08:40 – 09:00
Welcoming Remarks

10:15 – 11:30
Exposure Draft on Key Elements in the Supervisory Review Process of Takāful/ Retakāful Undertakings (ED-20)

11:30 – 12:45
Exposure Draft on Core Principles for Islamic Finance Regulation [Islamic Capital Market Segment] (ED-21)

11:30 – 12:45
Exposure Draft on Revised Standard on Disclosures to Promote Transparency and Market Discipline for Institutions Offering Islamic Financial Services [Banking Segment] (ED-22)

12:45 – 13:00
Closing Remarks

IFSB-FIS Workshop Series (Lebanon)
2018-03-26 08:00 - 16:30 | Gefinor Rotana Hotel, Clemenceau Street, Beirut, Lebanon
This 4-day Facilitating the Implementation of the IFSB Standards (FIS) Workshop is tailored for the regulatory and supervisory authorities and the market players for the banking sector. It will be hosted by Banque du Liban and will cover the following IFSB Standards and publications:

IFSB-1: Guiding Principles of Risk Management for Institutions (other than Insurance Institutions) offering only Islamic Financial Services (IIFS)
IFSB-10: Guiding Principles on Sharī`ah Governance Systems for IIFS
IFSB-15: Revised Capital Adequacy Standard for IIFS
IFSB-16: Revised Guidance on Key Elements In The Supervisory Review Process of IIFS

Overall, this Workshop aims to:

Enhance the participants’ understanding of the respective Standards and Guiding Principles thereby facilitating the implementation of these standards in their respective jurisdictions;
Assist the participants in the practical application of issues addressed in the particular standards through case studies, hands-on exercises and other interactive tools; and
Promote the sharing of experiences among the participants on the implementation of respective IFSB Standards and Guiding Principles.

Participation in this event is by INVITATION only. For queries, please contact the IFSB Secretariat, Mr. Hamizi Hamzah at hamizi@ifsb.org.

Programme – Event Session(s)

Date
Time
Topics

Day 1
26/03/2018
08:00 – 08:30
Registration

08:30 – 09:00
Welcoming Remarks and Group Photo

09:00 – 10:30
Session 1 – IFSB-1: Guiding Principles of Risk Management for Institutions offering Islamic Financial Services (IIFS) Understanding of Risks in IIFS Focus on Credit Risk Focus on Equity Investment Risk Focus on Operational Risk

10:30 – 11:00
Coffee Break

11:00 – 12:30
Session 2 – IFSB-1: Guiding Principles of Risk Management for IIFS (Continued) Focus on Market Risk Focus on Liquidity Risk Focus on Rate of Return Risk Case Study

12:30 – 14:00
Lunch and Prayer

14:00 – 16:00
Session 3 – IFSB-15: Revised Capital Adequacy Standard for IIFS Capital Adequacy Ratio Components of Capital Treatment of PSIA, PER and IRR Regulatory Adjustments and Deductions

Day 2
27/03/2018
09:00 – 10:30
Session 4 – IFSB-15: Revised Capital Adequacy Standard for IIFS (Continued) Credit Risk Weights for Various Counterparties Off-balance Sheet Exposures Exposures in Investments Made under Profit-Sharing Modes Past Due Receivables & Other Assets

10:30 – 11:00
Coffee Break

11:00 – 12:30
Session 5 – IFSB-15: Revised Capital Adequacy Standard for IIFS (Continued) Credit Risk Mitigation Credit Risk Mitigation Techniques Commonly Used by IIFS Credit Risk Mitigation Approaches Recognition of Ratings by External Credit Assessment Institution

12:30 – 14:00
Lunch and Prayer

14:00 – 16:00
Session 6 – IFSB-15: Revised Capital Adequacy Standard for IIFS (Continued) Understanding the Market Risk in Islamic Finance Policies and Procedures for Market risk Guidance on Valuation Practices Group Exercise

Day 3
28/03/2018
09:00 – 10:30
Session 7 – IFSB-15: Revised Capital Adequacy Standard for IIFS (Continued) Overview of Operational Risk Understanding Operational Risk in Islamic Finance Measuring Operational Risks Group Exercise

10:30 – 11:00
Coffee Break

11:00 – 12:30
Session 8 – IFSB-10: Guiding Principles on Sharī`ah Governance System for IIFS Structure of the Sharī`ah Governance System Scope of Sharī`ah Governance System Disclosure of Compliance with IFSB-10 General Approach to the Sharīʻah Governance System

12:30 – 14:00
Lunch and Prayer

14:00 – 16:00
Session 9 – IFSB-10: Guiding Principles on Sharī`ah Governance System for IIFS (Continued) Guiding Principles on the Sharī`ah Governance System – Competence and Independence Guiding Principles on the Sharī`ah Governance System – Confidentiality Guiding Principles on the Sharī`ah Governance System – Consistency Case Study

Day 4
29/03/2018
09:00 – 10:30
Session 10 – IFSB-16: Revised Guidance on Key Elements In The Supervisory Review Process of IIFS Supervisory Preconditions, Criteria and Approaches for Effective Supervision of IIFS Key Elements in the Supervisory Review Process of IIFS Regulatory Capital Requirements Treatment of Investment Account Holders (IAH) and Displaced Commercial Risk

10:30 – 11:00
Coffee Break

11:00 – 12:30
Session 11 – IFSB-16: Revised Guidance on Key Elements In The Supervisory Review Process of IIFS (Continued) Internal Capital Adequacy Assessment Process Islamic Windows Operations Assessment of Additional Issues Supervisory Transparency and Accountability

12:30 – 14:00
Lunch and Prayer

14:00 – 16:00
Session 12 – IFSB-16: Revised Guidance on Key Elements In The Supervisory Review Process of IIFS (Continued) Governance and Risk Management Transparency and Market Discipline Consolidated and Home-host Supervision Case Study

16:00 – 16:30
Closing Remarks & Certificate Giving Ceremony

12th IFSB-INCEIF Executive Forum: Preserving Wealth and Generating Long-term Value through Islamic Finance
2018-03-06 08:30 - 2018-03-07 17:00 | Training Room 3.3. and 3.4, Level 3, Sasana Kijang, 2, Jalan Dato Onn, Kuala Lumpur, Malaysia
Themed Preserving Wealth and Generating Long-term Value through Islamic Finance. The Executive Forum aims to provide a discourse on tailored-opportunities and appropriate strategies for the stakeholders of the Islamic finance industry going forward to fully realise the potential of Islamic finance in meeting the longer-term financial aspirations of the society.
The sessions of the Forum will discuss different focus areas revolving around the role of Islamic finance to preserve wealth and create long-term value. Among the topics are a)the role of wealth management from an Islamic perspective, b)the role of the Takāful sector in offering innovative products to support long-term financial sustenance for individuals, c)Sharīʻah-compliant opportunities for retirement planning and wealth management, d)realising long-term societal development through social contracts in Islamic finance and e)regulator’s role in promoting risk management practices and facilitating innovation in the Islamic fund industry.
The Executive Forum is a paying event. Special rates are offered to all member of the IFSB. Enjoy “50% discount on the third participant when you register 3 participants from the same organisation”. (Not applicable to subsidiaries and affiliated companies)
For registration and quiries, please email Mrs. Ida Shafinaz Ab. Malek at ida.shafinaz@ifsb.org

Event Snapshots

Programme – Event Session(s)

Day 1
06/03/2018
08:30 – 09:30
Morning Coffee and Registration

09:30 – 09:45
Opening Address

09:45 – 11:15
Session 1: Realising Long-Term Societal Development through Social Contracts in Islamic Finance | Dr. Ziyaad Mahomad, Assistant Professor, INCEIF Contracts for Societal Development in Islamic Finance and their Potential Integration into the Commercial Islamic Finance Industry Adopting Waqf as a New Growth Driver to Broaden and Strengthen the Longer-term Development of the Society. Case Studies on Utilising Awqaf to Promote Longer-term Economic Development (MUIS Singapore, Zam Zam Tower Makkah, etc.)

11:15 – 11:45
Group Photo and Coffee Break

11:45 – 13:15
Session 2: Long-term Financial Sustenance of Individuals through Takaful | Nor Azman Zainal, Chief Executive Officer, Prudential BSN Takaful Berhad | Product Diversity and Innovation for the Long-term Investment Products Need for Financial Protection in the Globalised World – e.g. Healthcare, Mortality, Children’s Education, etc. Products and Innovative Offerings by the Takaful Industry Enhancing Market Access and Meeting Customers’ Needs Going Forward – Opportunities and Threats, Impediments and Solutions

13:15 – 14:30
Lunch

14:30 – 16:30
Session 3: Interactive Session: Retirement Planning – The Next Frontier for the Islamic Finance Industry | Syed Hamadah Othman, Partner, Actuarial Partners Consulting Sdn Bhd, | Datuk Shahril Ridza Ridzuan,CEO, Employees Provident Fund Financial Awareness and Literacy on Retirement Planning Shari’ah-compliant Opportunities for Management of Retirement Funds The Importance of Starting Early Retirement Planning Case Study

16:30 – 17:00
Coffee break

Day 2
07/03/2018
08:30 – 09:30
Morning Coffee

09:30 – 11:00
Session 4: Inter-generational Wealth Management and Legacy Planning: Fulfilling Maqasid Al-Shariah | Aderi Adnan, Director, Business Development, Labuan IBFC | Trust Structures and Foundations for Islamic Wealth Management Legacy Planning and Services by Islamic Financial Institutions Case Study

11:00 – 11:30
Coffee Break and Networking

11:30 – 13:00
Session 5: The Role of Wealth Management from an Islamic Perspective | Monem Salam, President, Saturna Sdn. Bhd. Economic Trends and the Driving Demand for Wealth Management Services Identifying the Value Propositions of Islamic Wealth Management Wealth Management Solutions: Managing the Complexity of Wealth Preservation and Asset Planning Products and Solutions Offered by Islamic Funds Constraints and Impediments Faced by Islamic Funds Industry

13:00 – 14:00
Lunch

14:00 – 16:00
Session 6: Panel Discussion: Regulatory Regime for Fund Management and Pension Schemes: Avoiding a Social Economic Disorder | Prof. Dato Dr. Azmi Omar, PCEO, INCEIF, Mohammad Ridzuan Abdul Aziz, CEO, Sedania Al Salam, Zulkifli Ishak, Director, I-VCAP Managing Risk in the Islamic Fund Industry – Supervision and Enhancing Disclosure Regulator Role in Facilitating Innovation and Fostering the Emergence of Market Segments, Products and Services The Rise of the Digital Generation (Robo advisers, Equity Crowdfunding, Peer-to-peer Financing Platforms etc.) Regulatory Perspective

16:00 – 16:30
Closing & Certificate Giving Ceremony

16:30 – 17:00
Coffee break
