IFSB-FIS Workshop Series (Sudan)

The Corinthia Hotel Khartoum, Sudan Khartoum, Sudan

This 4-day workshop is tailored for the regulatory and supervisory authorities and the market players for the banking sector within Sudan. The major focus of the workshop will be on the most recent Guiding Principles which address the new global regulatory requirements for the supervisory review process and for liquidity management. The workshop will discuss the following IFSB Standards: 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.  This Workshop is hosted by Central Bank of Sudan and participation in this Workshop is by INVITATION only. For queries, please contact the IFSB Secretariat, Mr. Hamizi Hamzah at [email protected]. Programme - Event Session(s) Date Time Topics Day 1 11/01/2016 09:00 - 09:30 Registration 09:30 - 09:45 Opening Session by the IFSB and the CBOS Representatives 09:45 - 11:00 Session 1: IFSB-16: Revised Guidance on Key Elements In The Supervisory Review Process (SRP) Introduction to IFSB-16 Necessary Preconditions for Effective Supervision Additional Considerations in the Issuance of an IIFS License Supervisory Approaches in the Supervision of IIFS 11:00 - 11:30 Group Photo and Coffee Break 11:30 - 13:00 Session 2: IFSB-16: Revised Guidance on Key Elements In The SRP - Continued Regulatory Capital Requirements Guidance on the Slotting Method Treatment of IAH and Displaced Commercial Risk Advanced Approaches and Supervisory Discretion 13:00 - 14:00 Lunch and Prayer 14:00 - 16:00 Session 3: IFSB-16: Revised Guidance on Key Elements In The SRP - Continued Internal Capital Adequacy Assessment Process (ICAAP) ICAAP Framework for IIFS Supervisory Review Process in ICAAP Case Study 16:00 - 16:30 Coffee Break Day 2 12/01/2016 09:00 - 09:30 Registration 09:30 - 11:00 Session 4: IFSB-16: Revised Guidance on Key Elements In The SRP - Continued Corporate Governance Sharī`ah Governance Risk Management Processes Enterprise-wide Risk Management Framework 11:00 - 11:30 Coffee Break 11:30 - 13:00 Session 5: IFSB 16: Revised Guidance on Key Elements In The SRP - Continued Related Party Transactions Secrutisation Risk and Related Off-balance Sheet Exposures Special Purpose Entities (SPEs) and Key Considerations in the Supervisory Review Process Case Study 13:00 - 14:00 Lunch and Prayer 14:00 - 16:00 Session 6: IFSB 16: Revised Guidance on Key Elements In The SRP - Continued Transparency and Market Discipline Consolidated and Home-host Supervision Supervisory College and IIFS Specific Issues Case Study 16:00 - 16:30 Coffee Break Day 3 13/01/2016 09:00 - 09:30 Registration 09:30 - 11:00 Session 7: IFSB 16: Revised Guidance on Key Elements In The SRP - Continued Supervisory Review for Credit Concentration Risk Concentration Limits for Real Estate Investment Islamic Windows Operations Case Study 11:00 - 11:30 Coffee Break 11:30 - 13:00 Session 8: IFSB-16: Revised Guidance on Key Elements In The SRP - Continued Liquidity Risk Management and Supervision Sound Stress Testing Practices Sharī`ah-compliant Hedging Techniques Supervisory Transparency and Accountability 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 Liquidity Coverage Ratio (LCR) in IIFS Definition and Categorisation of High Quality Liquid Assets (HQLA) Operational Considerations for HQLA Infrastructure Issues in the Availability of Sharī`ah-compliant HQLA 16:00 - 16:30 Coffee Break Day 4 14/01/2016 09:00 - 09:30 Registration 09:30 - 11:00 Session 10: GN-6: Guidance Note on Quantitative Measures for Liquidity Risk Management - Continued Components of Total Net Cash Outflows Categories of Cash Outflow Cash Inflows Case Study 11:30 - 11:30 Coffee Break 11:30 - 13:00 Session 11: GN-6: Guidance Note on Quantitative Measures for Liquidity Risk Management - Continued Net Stable Funding Ratio (NSFR) Application of the NSFR in IIFS The Internal Liquidity Adequacy Assessment and Supervisory Liquidity Review Processes Application of LCR and NSFR 13:00 - 14:00 Lunch and Prayer 14:00 - 16:00 Session 12: GN-6: Guidance Note on Quantitative Measures for Liquidity Risk Management - Continued Principles for Applying Alternative Liquidity Approaches Disclosure Requirements for LCR and NSFR Evaluation of the Market Liquidity of Assets Case Study 16:00 - 16:15 Closing & Certificate Giving Ceremony 16:15 - 16:45 Coffee Break Downloadable Document(s) 1.) Event Session(s) - PDF Format

IFSB-FIS Workshop Series (Tajikistan)

Dushnabe Dushnabe, Dushnabe, Tajikistan

This 4-day workshop is tailored for the National Bank of Tajikistan. It will discuss the introduction to Islamic finance and the following IFSB Standards: IFSB-2: Capital Adequacy Standard for Institutions offering only Islamic Financial Services (IIFS) IFSB-16: Revised Guidance on Key Elements in the Supervisory Review Process of IIFS GN-4: Guidance Note in Connection with the IFSB Capital Adequacy Standard: The Determination of Alpha in the Capital Adequacy Ratio (CAR) for 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. This Workshop is hosted by the National Bank of Tajikistan and supported by the Islamic Development Bank. Participation in this Workshop is by INVITATION only. For queries, please contact the IFSB Secretariat, Mr. Hamizi Hamzah at [email protected]. Programme - Event Session(s) Date Time Topics Day 1 28/03/2017 08:30 - 09:00 Registration 09:00 - 09:30 Opening Remarks by the NBT and IFSB Representatives Group Photo 09:30 - 11:00 Session 1 - Introduction to Islamic Finance Concept of Islamic Finance Contracts in Islamic Finance Structures of Islamic Banking Products Prudential Issues in IIFS 11:00 - 11:30 Coffee Break 11:30 - 13:00 Session 2 - IFSB-2: Capital Adequacy Standard for IIFS Need for Capital Regulation Pillar 1: Capital Adequacy Ratio (CAR): Understanding the Components of CAR CAR Formulas - Standard and Supervisory Discretion Treatment of PSIA - Supervisory Discretion Formula 13:00 - 14:00 Lunch and Prayer 14:00 - 16:00 Session 3 - IFSB-2: Capital Adequacy Standard for IIFS (Cont’d) Credit Risk Weights for Various Counterparties Off-balance Sheet Exposures Exposures in Investments Made under Profit-Sharing Modes Credit Risk Mitigation Day 2 29/03/2017 09:30 - 11:00 Session 4 - IFSB-2: Capital Adequacy Standard for IIFS (Cont’d) Measurement of Capital Adequacy Requirements for Market Risk Measurement of Market Risk Market Risk Weight Conversion Factor Case Study 11:00 - 11:30 Coffee Break 11:30 - 12:00 Session 5 - IFSB-2: Capital Adequacy Standard for IIFS (Cont’d) 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 6 - GN-4: Guidance Note in Connection with the IFSB Capital Adequacy Standard: The Determination of Alpha in the Capital Adequacy Ratio for IIFS Background of the Guidance Note Understanding Management of Profit-Sharing Investment Account (PSIA) Understanding the Concept of Alpha and Displaced Commercial Risk (DCR) Measurement of Risk Sharing in PSIA Day 3 30/03/2017 09:30 - 11:00 Session 7 - GN-4: Guidance Note in Connection with the IFSB Capital Adequacy Standard: The Determination of Alpha in the Capital Adequacy Ratio for IIFS (Cont’d) The Determination of Alpha and DCR Issues on Prudential Regulations and Requirements Role of Supervisory Authority in Determination of Alpha and DCR Case Study 11:00 - 11:30 Coffee Break 11:30 - 13:00 Session 8 - IFSB-16: Revised Guidance on Key Elements In The Supervisory Review Process Necessary Preconditions for Effective Supervision Supervisory Approaches in the Supervision of IIFS Regulatory Capital Requirements Advanced Approaches and Supervisory Discretion 13:00 - 14:00 Lunch and Prayer 14:00 - 16:00 Session 9 -IFSB-16: Revised Guidance on Key Elements In The Supervisory Review Process (Cont’d) Internal Capital Adequacy Assessment Process (ICAAP) Corporate and Sharī'ah Governance Related Party Transactions Case Study Day 4 31/03/2017 08:30 - 10:00 Session 10 - IFSB-16: Revised Guidance on Key Elements In The Supervisory Review Process (Cont’d) Transparency and Market Discipline Consolidated and Cross-sector Supervision Risk Concentrations in IIFS Case Study 10:00 - 10:15 Coffee Break 10:15 - 11:45 Session 11 - IFSB-16: Revised Guidance on Key Elements In The Supervisory Review Process (Cont’d) Islamic “Windows” Operations Liquidity Risk Management and Supervision Sound Stress Testing Practices Supervisory Transparency and Accountability 11:45 - 12:15 Closing & Certificate Giving Ceremony

IFSB Executive Programme: Managing Digital Transformation Risks for Islamic Finance Institutions (IFIs)

Online

Online IFSB Executive Programme Managing Digital Transformation Risks for Islamic Finance Institutions (IFIs) The Covid-19 pandemic has given a very important lessons to global financial services industry unexceptionally which the Islamic finance industry shall face post the pandemic. One of them is the necessity of accelerated digital business transformation which includes amongst others, changes in the business model, operations, technical mechanism, supervision and monitoring into the digital ones including larger and comprehensive risk assessment and mitigation. Physical business interactions, dealing, negotiation, financial transactions and execution may not be feasible nowadays and are changed into digital and virtual Islamic financial transactions. Currently, Islamic finance players have started to transform their products and services into digital ones for examples, e-deposit, e-sukuk, insurTech, e-payment, etc offered and operated via new business and digital based systems in the integrated financial market. Even, Islamic finance is now giving the greater attention on Islamic social finance, funds, products and instruments including the Environmental, Social and Governance (ESG). Sukuk awqf, digital zakah and awqf payment and distribution mechanisms are amongst the recent innovations in Islamic finance most of which IFSB Standards had provided clear guidance for both regulators and market players.  To enhance participants understanding of operational risks and regulatory concerns associated with accelerated digital transformation for the Islamic banking, Islamic capital market and takaful institutions. To elevate key skills and competencies of participants on regulation, supervision and monitoring including comprehensive risk assessment and mitigation of digital transformation associated risks for IFIs. To equip participants with understanding and acceleration of Islamic social finance including new and innovative instruments, mechanism and programs. Interactive online discussion, providing direct engagement with subject matter experts and sharing of country and organisational experiences as well as using IFSB standards and technical notes as reference.   Event Snapshots:

IFSB-FIS E-Workshop Series – Standard on Risk Management for Takaful (Islamic Insurance) Undertakings (IFSB-14)

Kuala Lumpur Kuala Lumpur, Malaysia, Malaysia

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***

Webinar for the Public Hearing on ED-26 : Core Principles for Islamic Finance Regulation (Financial Market Infrastructure)

Online

In its 3rd Extraordinary Technical Committee Meeting held on 9 September 2021, the Technical Committee of the Islamic Financial Services Board (IFSB) has approved the issuance of the of the following Exposure Draft (ED) : Core Principles for Islamic Finance Regulation (Financial Market Infrastructure) - ED-26 The Public Consultation will be for a period of 45 days, starting from 10 September 2021 until 25 October 2021.   In conjunction to the above, the IFSB will be organising a Webinar for the Public Hearing on the ED-26 on 15 October 2021 at 4.00 PM (GMT +8.00, Malaysia time). Therefore, the IFSB would like to invite all members, stakeholders and interested parties to attend the above programme.   Kindly register in advance for this webinar: https://zoom.us/webinar/register/WN_4XUyFdM6RsqgkP4xT9pNgw     An email confirmation containing about joining the webinar will be sent after registration. We look forward to receiving your registration for Public Hearing session as well as feedback on ED-26.   Event Snapshots:  

IFSB Conference 2021: Financial Stability in the Digital Era and its Implications for Islamic Economics and Finance

Online

Target Audience: IFSB members and non-members (RSA, market players, scholars and academics) Learning Objectives: The progress of digital transformation has accelerated in the midst of pandemic due to rising digitalization trend. Some central banks have conducted assessments and exercises on pros and cons of digital transformation in the regulators policies and initiatives particularly to maintain the financial system stability, economic transaction and increase the policy impacts to the real sectors including the Islamic finance. The focuses are mainly on: (i) can the central bank digital transformation perform a better economic policy transformation mechanism in the digital era? (ii) how can the economic policies (fiscal, monetary, finance, etc) be relied on and applied in the digital era? (iii) how is the financial stability framework and mechanism be maintained by adopting the central bank digital transformation? (iv) how is Sharia view and thought on some digital initiatives applied by the regulators? (v) and other central bank strategic policies and digital transformation issues can also be deliberated and shared in the event. Programme Outcome: The conference intends to elaborate and possibly gains consensus among policy makers, experts and sharia scholars on the issues and ideas of the digital transformation in the policy, market practices and Sharia initiative. Representatives from the central banks, international standard setting bodies, industry players and sharia scholars among resource persons in the event. The expected outcomes of the event are: (a) comprehensive understanding and thought on digital transformation from regulatory perspectives (central bank, financial regulators) mainly its financial and economic impacts, policy responses and financial (b) discussions from the market and industry players on some applications of digital transformation in financial transactions (crypto asset trading, bitcoin, etc) (c) knowing the Sharia views and thoughts on digital initiatives in the payment system, financial market transactions, banking system, etc mainly with the issues of Riba, gharar and maysir (speculation) in the digital transaction. Programme Approach: Following are the overall programme approaches: Explanation and elaboration of the issue, policy, market experiences and Sharia thoughts from the speakers (policy makers, market players and sharia scholars). Interactive discussion, debate, pros and cons opinions on the topic among speakers and limited (by invitation) audience. Conclusions or pre-requisite consensus on the issues being discussed. Suggestions on policy responses or market responses on the issues. Event Snapshots:   Programme - Event Session(s): Day 1 00/00/0000 00:00 - 00:00 13:00 - 13:30 Registration and Opening by Master of Ceremony 13:30 - 14:00 Opening Remarks and Keynote Address Opening Remarks       : Dr. Bello Danbatta, Secretary-General, IFSB Keynote Speech          : Dr. Wimboh Santoso, Chairman, Otoritas Jasa Keuangan (OJK) 14:00 - 15:00 Session 1: Central Bank Digital Transformation: Policy Responses and Financial System Stability Central bank views, assessments and thought on central bank digital transformation particularly in relation to financial system stability, economic transaction and impacts on the real sectors Policy responses on central bank digital transformation: policy transformation, financial market and payment system policies. Central bank strategic policies in shaping financial industry and payment system in the digital era. Possible adoption with adjustments and modification with respect to the jurisdiction’s economic condition and policy measures. 15:00 - 16:00 Session 2: Financial Market and Industry Views, Assessments, and Shari’ah Thoughts on Digital Transformation in the Islamic Business and Economic Transactions Financial market dan banking responses on the current cases of the digital transactions such as digital payment, digital financial market transactions, digital financing, etc. Possible impacts of digital transformation in the Islamic economic and financial transactions: contract, trading, investor and customer protection, risk assessment, etc. Changing in the financial market and banking treatments and rules on digital transaction in the digital era. 16:00 - 16:15 Q & A Session

55th Meeting of the Technical Committee

Online

The 55th Meeting of the Technical Committee of the IFSB is scheduled to be held online as follows:   Date 28 October 2021 Time 3:30 PM - 7:00 PM (Malaysia time) Participation in the meeting is by invitation only. For more information please email to Ms. Nissa at : [email protected]

5th Meeting of Working Group on Core Principles for Islamic Finance Regulation (Financial Market Infrastructures)

Online

The 5th Meeting of Working Group on Core Principles for Islamic Finance Regulation (Financial Market Infrastructures) is scheduled to held as follow :   Date 4 November 2021 Time 3.00 PM (GMT +8.00, KL time) Venue via web conference / webinar   Participation in the meeting is by INVITATION only. For more information please email to: [email protected] Event Snapshots  

6th Meeting of the Executive Committee

Jeddah Jeddah, Saudi Arabia, Saudi Arabia

The Secretariat is pleased to announce that the 6th Meeting of the Executive Committee will be held on Monday, 8 November 2021 in Jeddah, Kingdom of Saudi Arabia. Participation is by invitation only. For participation enquiries and registration for the meeting, please email to Ms. Nissa at [email protected]

15th IFSB Summit

Jeddah Jeddah, Saudi Arabia, Saudi Arabia

The IFSB Summit 2021 was held on 9 to 11 November 2021 at Jeddah, Saudi Arabia hosted by Central Bank of Saudi Arabia 15TH IFSB SUMMIT, DAY 1: PRE-SUMMIT EVENTS | TUESDAY, 9 NOVEMBER 2021   15th IFSB SUMMIT, DAY 2: SUMMIT EVENTS | WEDNESDAY, 10 NOVEMBER 2021   15TH IFSB SUMMIT, DAY 3: SUMMIT EVENTS | THURSDAY, 11 NOVEMBER 2021