Islamic Financial Services Board

Digital Transformation in Islamic Banking; A Case Study
2021-12-31 14:00 - 16:30 UTC | Online

4th Task Force Meeting of Technical Note on Shariah-compliant Liquidity Management Tools
2021-12-15 | Online
The 4th Task Force Meeting of Technical Note on Shariah-compliant Liquidity Management Tools is scheduled to be held as follow :

Date
15 December 2021

Time
4.30 PM (GMT +8.00, KL time)

Venue
Web-conference / webinar

Participation in the meeting is open to the Task Force members only. For more information, please email to fadhila@ifsb.org.

Event Snapshots

Demystifying Crypto Currencies & Blockchain from a Shariah Perspective
2021-12-14 11:00 - 13:00 UTC | Online
Title: Demystifying Crypto Currencies & Blockchain from a Shariah Perspective
Date: Tuesday, 14th of December, 2021
Time: 11.00a.m. – 1.00p.m. (GMT +3)

Type: International Executive Webinar

Duration: 2 hours

Programme Overview:
The interest towards crypto-currencies and the technology that enables it, blockchain, is continuously increasing. There have been many discourses that have discussed the feasibility and nature of cryptocurrencies and its enabler technology. The outcome has been either to support it due to its many features that are unique compared to traditional fiat money, or to go against it, as it still contains elements that are heavily unregulated and may lead to a multitude of issues in terms of loss, involvement of illegal activities, and high volatility. This webinar seeks to thoroughly explain and deliberate the cryptocurrency specifically and blockchain in general from the angle of Shari’ah and how it is affecting the Islamic finance industry. As a result of the ever-growing interest on this topic, regulators are also expected to have certain measures in place as a much-needed response.
Programme Approach:
The programme will rely on Interactive online discussions through the provision of direct engagement with the subject matter experts and sharing of country and organisational experiences. The subject experts will first present their specific areas of discourse and this will then be followed by a Q and A session involving the moderator and audience.
Agenda:

Bahrain Time
Session

11.00a.m. – 11.10a.m.
Moderator Opening

Mr. Mujtaba Khalid (Head of Center for Islamic Finance – BIBF)

11.10a.m. – 11.20a.m.
Opening remarks

Dr. Bello Lawal Danbatta (Secretary-General – IFSB)

11.20a.m. – 12.20p.m.
Main Discussion

Examining cryptocurrency and blockchain from a Shariah perspective

Subject Matter Expert 1: Dr. Ahmad Asad, Principal Lecturer, BIBF

Subject Matter Expert 2: Dr. Shaban Burwari, Shariah Advisor, IFSB

12.20p.m. – 1.00p.m.
Question & Answer session led by moderator

Webinar for the Public Hearing on TN-4 : Technical Note on Recovery and Resolution for Institutions Offering Islamic Financial Services (IIFS)
2021-12-14 | Online
In its 55th Technical Committee Meeting held on 28 October 2021, the Technical Committee of the Islamic Financial Services Board (IFSB) has approved the issuance of the of the following Exposure Draft (ED) :

Technical Note on Recovery and Resolution for Institutions Offering Islamic Financial Services (IIFS)

The Public Consultation will be for a period of 45 days, starting from 15 November 2021 until 29 December 2021.

In conjunction to the above, the IFSB will be organising a Webinar for the Public Hearing on the TN-4 on 14 December 2021 at 2.30 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_zTBfdtU_RpaKxW0NV3qKgA

An email confirmation containing about joining the webinar will be sent after registration.

Ms. Fadhila Izzati Mokhtar (fadhila@ifsb.org) is the person in charge of the Public Hearing and she would be pleased to respond to any enquiries relating to the Webinar.

We look forward to receiving your registration for Public Hearing session as well as feedback on TN-4

13th Public Lecture on Sustainability and Cyber Resilience
2021-12-08 16:00 - 21:00 UTC
Programme – Event Session(s)

Date
Time
Topics

Day 1
08/12/2021
16:00 – 16:30

Registration

16:30 – 16:45

Opening Remarks
Dr. Bello Lawal Danbatta, Secretary-General, IFSB

16:45 – 17:00

Welcoming Remarks
H.E. Khaled Mohamed Balama, Governor, CBUAE

17:00 – 17:10

Special Address
H.E. Abdul Aziz Al Ghurair, Chairman, UBF

17:10 – 17:45

Public Lecture 1: Islamic Finance and Sustainability: Synergies, Strategies and Risks
As the global economy gradually moves towards adopting a more sustainable development model, the Islamic finance industry has tremendous opportunities to meet the expanding needs in this segment. The principles of Islamic finance naturally form substantial synergies with the global sustainability agenda. While there have been several national-led as well as market-driven initiatives for issuance of sustainable Islamic financial products, a more substantial and wider transformation towards sustainable Islamic finance and related innovation requires collective action by policy-makers and regulators, market players and international bodies to ensure alignment and effectiveness of policies and strategies. Further growth in the supply of sustainable Islamic finance products also requires addressing some of the current gaps including information gaps to ensure the alignment of incentives, results measurement and effective risk management. The session aims to discuss the potential strategies and opportunities to harness the synergies between Islamic finance and sustainable development and important policy considerations.

17:45 – 18:15

Break

18:15 – 18:25

Keynote
H.E. Dr. Reza Baqir, Governor, SBP

18:25 – 19:00

Public Lecture 2: Cybersecurity in the Era of Digitalisation: Regulatory Perspective
Digitalisation of financial services has emerged as a powerful disruptor that is rapidly reshaping the real economy and the financial sector on a global scale. While digitalisation of Islamic finance also has the potential to deliver environmental outcomes and support a transformation in financing for sustainable development, the impact of digital finance will depend on policy and regulatory measures that, among other things, minimise any potential negative and unintended consequences such as cyber security risks. Hence, cyber security threats have captured prominent regulatory attention, especially financial stability implications and increased systemic risks due to financial interlinkages. While cyber risk is not unique to Islamic finance, it is an equally significant concern that presents new regulatory and supervisory challenges. The session aims to discuss critical considerations and gaps from a regulatory perspective, to improve cybersecurity as more Islamic financial institutions embrace digitalisation of their products and services.

19:00 – 21:00
Dinner

39th Meeting of the Council of the Islamic Financial Services Board (IFSB) and Side Events
2021-12-07 - 2021-12-09 | United Arab Emirates, United Arab Emirates, United Arab Emirates, United Arab Emirates
The Secretariat is pleased to announce that the 39th Meeting of the Council will be held on Thursday, 9 December 2021 in the United Arab Emirates (UAE). A series of side events will also be held in conjunction with the Council meeting from 7 – 8 December 2021.

The 39th Meeting of the Council will be chaired by H.E. Khaled Mohamed Balama Al Tameemi, Governor of the Central Bank of the United Arab Emirates and Chairman of the IFSB for 2021.

Participation in the Council meeting is by invitation only. For inquiries and registration, please email Ms. Nissa at khairun.nissa@ifsb.org. More information will be posted on this page in the weeks ahead.

The IFSB and the Central Bank of the United Arab Emirates look forward to the participation of the IFSB members in the meeting and side events.

1st Working Group Meeting on Conduct of Business and its Prudential Supervision in Takaful Standard
2021-11-25 | Online
The 1st Working Group Meeting on Conduct of Business and its Prudential Supervision in Takaful Standard is scheduled to held as follow :

Date
25 November 2021

Time
3.30 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: fadhila@ifsb.org

1st Working Group Meeting on Revised IFSB Guiding Principles on Corporate Governance for Institutions offering Islamic Financial Services [Banking Segment]
2021-11-23 | Online
The1st Working Group Meeting on Revised IFSB Guiding Principles on Corporate Governance for Institutions offering Islamic Financial Services [Banking Segment] is scheduled to held as follow :

Date
23 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: fadhila@ifsb.org

Event Snapshots

15th IFSB Summit 2021
2021-11-09 - 2021-11-11 | Jeddah, Jeddah, Saudi Arabia, Saudi Arabia
The 15th IFSB Summit aims to bring together financial industry leaders, experts, policymakers and other stakeholders to share knowledge, experience and expertise under the theme of “Islamic Finance and Digital Transformation: Balancing Innovation and Resilience”. The Summit will provide a forum to discuss policy priorities and strategies to foster renewed growth momentum in the Islamic financial services industry (IFSI), focusing particularly on digital transformation of Islamic financial services.

The Summit will provide an opportunity to share ideas and deepen the understanding of emerging developments and advances in financial technology and digital finance across the various sectors of the IFSI, the different regulatory approaches and practices that have been applied by jurisdictions and their effectiveness, as well as the challenges and trade-offs, and the policy actions that are needed going forward to further promote innovation whilst ensuring resilience and financial stability. The sessions will also include discussions that renew the focus on harnessing the inherent values and principles of Islamic finance to provide value-based solutions to strengthen the link between innovation in Islamic finance and the real economy, while also supporting long term sustainable development and ESG objectives. Further, it will look at potential strategies to facilitate use of digital finance and financial technologies by Islamic financial institutions to target underserved populations and SMEs to foster more inclusive growth of Islamic finance. It will also provide opportunities to discuss relevant issues around structural changes in the Islamic finance industry as a result of technological developments, including management of cyber risk, issues around crypto-assets and the effective use of regulatory and supervisory technology.

Across the various sessions during the two-day Summit, industry leaders will be able to discuss the most prominent and current issues in the industry and identify the key policy objectives going forward for standard setters as well as for national authorities.

ENQUIRIES

If you have any inquiries regarding registration or participation in the 15th IFSB Summit, please direct your queries to:

Registration

Sponsorship & Press

Mr. Iswaran A/L Shamugam
Tel.: +603 9195 1426 or +603 9195 1400
iswaran@ifsb.orgMs. Noor Azmah Mohd Yusoff
Tel: +603-9195 1434
noor.azmah@ifsb.org

Ms. Natejah Ahmad
Tel.: +603 9195 1426 or +603 9195 1400
natejah@ifsb.orgMs. Rosmawatie Abdul Halim
Tel: +603-9195 1425
rosmawatie@ifsb.org

TRAVELLING REQUIREMENTS

Participants that physically attending the event shall make their own arrangement. However, should you require a letter from the IFSB to facilitate your visa application, please contact the IFSB Secretariat.

Please see below travelling requirements requested by health authorities in Saudi Arabia with regard to Covid-19 precautions:

Summit participants must obtain and show a proof of vaccination (vaccine certificates for COVID 19) with one of the flowing vaccines:

2 doses of Pfizer BioNTech
2 doses of Oxford AstraZeneca
2 doses of Moderna
1 dose of Johnson&Johnson’s Janssen

Vaccine certificates are required to be certified by official health authorities from the country that provided the vaccination.
The second dose of a two-dose vaccine or the first dose of a single dose vaccine should be taken at least (14) days before arrival to the Kingdom of Saudi Arabia.
Summit participants must carry their vaccine certificates at all times during their stay in the kingdom (Or prove of health status through applications and accredited programs in the kingdom)
Summit participants must provide a negative result of (PCR) test certificate not exceeding (72) hours before departure to the Kingdom of Saudi Arabia.

Summit participants must provide a negative result of (PCR) test certificate not exceeding (72) hours before departure to the Kingdom of Saudi Arabia.

For more information, please visit https://wwwnc.cdc.gov/travel/notices/covid-4/coronavirus-saudi-arabia

Entry Status to KSA
# Country Status
1. Egypt Banned
2. Lebanon Banned
3. Indonesia Banned
4. Turkey Banned
5. Pakistan Banned
6. Japan Quarantine required
7. Switzerland Quarantine required
8. UK Quarantine required
9. USA Quarantine required
10. Germany Quarantine required
11. All remaining countries No entry restrictions

Before coming to Saudi Arabia, participants from allowed countries should not pass by the below countries for the 14 days before entering KSA:

1. Ireland
2. Germany
3. Indonesia
4. Italy
5. Pakistan
6. Brazil
7. Portugal
8. UK
9. USA
10. Turkey
11. Sweden
12. Switzerland
13. France
14. Lebanon
15. Egypt
16. India
17. Japan

ACCOMMODATION INFORMATION

Participants that physically attending the event shall make their own arrangement for accomodation. However, the Secretariat has secured preferential rates are the following hotels. You are required to make your reservations directly with the hotel. The reservation forms are available for download.

https://www.ritzcarlton.com/en/hotels/saudi-arabia/jeddah

ABOUT THE IFSB

The Islamic Financial Services Board (IFSB) is an international standard-setting ‎organisation that promotes and enhances the soundness and stability of the Islamic ‎financial services industry by issuing global prudential standards and guiding principles ‎for the industry, broadly defined to include banking, capital markets and insurance ‎sectors.‎

As at June 2021, the 187 members of the IFSB comprise 81 regulatory and supervisory authorities, 10 international inter-governmental organisations, and 96 market players (financial institutions, professional firms, industry associations and stock exchanges) operating in 57 jurisdictions.

Towards this end, the IFSB works closely with relevant international, regional and ‎national organisations, research/educational institutions and market players.

For more information about the IFSB, please visit www.ifsb.org

Latest IFSB Press Releases
List of IFSB Members
List of IFSB Publications
List of IFSB upcoming events

ABOUT CENTRAL BANK OF SAUDI ARABIA

Saudi Central Bank, the central bank of the Kingdom of Saudi Arabia, was established in 1372H (1952). It has been entrusted with performing many functions pursuant to several laws and regulations. The most important functions are the following:

To deal with the banking affairs of the Government;
Minting and printing the national currency (the Saudi Riyal), strengthening the Saudi currency and stabilizing its external and internal value, in addition to strengthening the currency’s cover;
Managing the Kingdom’s foreign exchange reserves;
Managing the monetary policy for maintaining the stability of prices and exchange rate;
Promoting the growth of the financial system and ensuring its soundness;
Supervising commercial banks and exchange dealers;
Supervising cooperative insurance companies and the self-employment professions relating to the insurance activity;
Supervising finance companies;
Supervising credit information companies.

Source: https://www.sama.gov.sa/en-US/About/Pages/SAMAFunction.aspx

ABOUT KINGDOM OF SAUDI ARABIA

The Kingdom of Saudi Arabia occupies most of the Arabian Peninsula, the original homeland of the Arabs, the place of origin of the Arabian language, and the historic center of Islam. Saudi Arabia is bounded by the Red Sea in the west and the Persian Gulf in the east. The country borders Iraq, Jordan, Kuwait, Oman, Qatar, United Arab Emirates, and Yemen. The country shares maritime borders with Bahrain, Egypt, Eritrea, Iran, and Sudan.

Saudi Arabia is the largest state in Western Asia with an area of more than 2 million km²; it is almost four times the size of Metropolitan France or somewhat larger than Mexico.

The sparsely inhabited country has a population of 34.8 million inhabitants (in 2020), the capital and largest city is Riyadh, the spoken language is Arabic. Saudi Arabia is a country with a predominantly Muslim population. The country is home to Mecca, Islam’s holiest city and the birthplace of the Prophet Muhammad. The kingdom is ruled by the house of Saud along traditional Islamic lines.

Saudi Arabia is the largest oil producer in the Middle East. The proven oil reserves in Saudi Arabia are the second largest in the world, estimated to be 266 billion barrels.

Source: https://www.nationsonline.org/oneworld/saudi_arabia.htm

REGISTRATION

The 15th Islamic Financial Services Board Summit is open to all IFSB members and interested parties.

Participants are required to submit the registration form either online or by fax/email. Confirmation of participation will be given upon payment of the Summit fees and on a first-come-first-served basis.

The IFSB will issue a confirmation letter upon receipt of payment and participants are required to bring this letter during registration on the event day.

To ensure your seat, please submit your registration to the IFSB Secretariat by 8 October 2021. Priority of confirmation will be given to members of the IFSB.

DOWNLOADABLE DOCUMENTS
15th Summit Registration Form

15th IFSB Summit Programme

15th IFSB Summit
2021-11-09 - 2021-11-11 | 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

6th Meeting of the Executive Committee
2021-11-08 | 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 khairun.nissa@ifsb.org

5th Meeting of Working Group on Core Principles for Islamic Finance Regulation (Financial Market Infrastructures)
2021-11-04 | 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: fadhila@ifsb.org
Event Snapshots

6th Working Group Meeting on Revised Solvency Requirements for Takaful/Retakaful Undertakings
2021-11-02 | Online
The 6th Working Group Meeting on Revised Solvency Requirements for Takaful/Retakaful Undertakings is scheduled to be held as follow :

Date
2 November 2021

Time
2.30 PM (GMT +8.00, KL time)

Venue
Web-conference / webinar

Participation in the meeting is by INVITATION only. For more information, please email to fadhila@ifsb.org.

Event Snapshots

55th Meeting of the Technical Committee
2021-10-28 15:30 - 19:00 (Asia/Kuala_Lumpur) | 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 : khairun.nissa@ifsb.org

IFSB Conference 2021: Financial Stability in the Digital Era and its Implications for Islamic Economics and Finance
2021-10-28 13:00 - 16:15 UTC | 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

Webinar for the Public Hearing on ED-26 : Core Principles for Islamic Finance Regulation (Financial Market Infrastructure)
2021-10-15 | 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:

6th Working Group Meeting on Core Principles for Islamic Finance Regulation (Takaful Segment)
2021-10-14 | Online
The 6th Working Group Meeting on Core Principles for Islamic Finance Regulation (Takaful Segment) is scheduled to be held as follow :

Date
14 October 2021

Time
3.00 PM (GMT +8.00, KL time)

Venue
Web-conference / webinar

Participation in the meeting is by INVITATION only. For more information, please email to fadhila@ifsb.org.

Event Snapshots

IFSB-FIS E-Workshop Series - Standard on Risk Management for Takaful (Islamic Insurance) Undertakings (IFSB-14)
2021-10-13 | 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***

IFSB Executive Programme: Managing Digital Transformation Risks for Islamic Finance Institutions (IFIs)
2021-09-30 | 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 - Stress testing in Islamic banks according to the IFSB standards
2021-09-22 16:30 - 2021-09-23 18:30 UTC | Kuala Lumpur, Kuala Lumpur, Malaysia, Malaysia
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***

16th Meeting of the Task Force on Prudential and Structural Islamic Financial Indicators - PSIFIs (Online)
2021-09-15 14:30 - 18:00 (Asia/Kuala_Lumpur) | Online
The 16th Meeting of the Task Force on Prudential and Structural Islamic Financial Indicators (PSIFIs) is scheduled to be held via online as follows:

Date
15 September 2021 (Wednesday)

Time
14:30 – 18:00 (GMT +8.00, Kuala Lumpur Time)

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

3rd Extraordinary Meeting of the Technical Committee (Online)
2021-09-09 15:00 - 19:00 (Asia/Kuala_Lumpur) | Online
The 3rd Extraordinary Meeting of the Technical Committee of the IFSB is scheduled to be held online as follows:

Date
9 September 2021

Time
15:00 – 19:00 (Malaysia Time)

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

3rd Task Force Meeting of Technical Note on Shariah-compliant Liquidity Management Tools
2021-08-26 | Online
The 3rd Task Force Meeting of Technical Note on Shariah-compliant Liquidity Management Tools is scheduled to be held as follow :

Date
26 August 2021

Time
3.00 PM (GMT +8.00, KL time)

Venue
Web-conference / webinar

Participation in the meeting is by INVITATION only. For more information, please email to fadhila@ifsb.org.

Event Snapshots

4th Working Group Meeting on Core Principles for Islamic Finance Regulation (Financial Market Infrastructures)
2021-08-24 | Online
The 4th Working Group Meeting on Core Principles for Islamic Finance Regulation (Financial Market Infrastructures) is scheduled to held as follow :

Date
24 August 2021

Time
3.00 PM (KL time)

Venue
via web conference / webinar

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

Event Snapshots

5th Working Group Meeting on Revised Solvency Requirements for Takaful/Retakaful Undertakings
2021-08-23 | Online
The 5th Working Group Meeting on Revised Solvency Requirements for Takaful/Retakaful Undertakings is scheduled to be held as follow :

Date
23 August 2021

Time
2.30 PM (GMT +8.00, KL time)

Venue
Web-conference / webinar

Participation in the meeting is by INVITATION only. For more information, please email to fadhila@ifsb.org.

Event Snapshots

2nd IFSB CEO’s FORUM & Launch of the Islamic Financial Services Industry Stability Report 2021
2021-08-18 | Online
COVID-19 has shifted the dynamics in the global Islamic financial services industry (IFSI). The necessary public health measures have created the need for businesses to change their course of action and overall outlook for the future. Beyond the immediate economic implications, COVID-19 is creating new opportunities by forcing the IFSI to adapt to rapidly evolving market conditions and speeding up the pace of emerging trends in socially responsible investing, sustainability, and digitalization to mitigate the impact of the outbreak.

The Covid-19 outbreak has led to growth in the IFSI in some areas by accelerating trends such as socially responsible investing and a stronger focus on social sustainability. The impact of Covid-19 presented a window of opportunity for the Islamic capital market sector, particularly regarding the issuance of sovereign sukuk as a part of the government’s strategy to diversify its funding for financing fiscal deficit and to meet the fiscal requirements for combating Covid-19.

In the business sectors, some IFSI have started to convert their ongoing business models into a more digital and virtual based businesses. Digital payment, monitoring, recording, reporting and even the Islamic financial institution and instrument themselves have become fully digital (virtual) which are now commonly called as digital banking, e-Sukuk, etc. in line with the issue of digital currency.

Objectives:

To discuss the recovery initiatives within the Global Islamic Financial Services Industry
To discuss the limitation for IFSI and identify specific risk factors that might arise in relation to specificities of Islamic Finance
To provide a better understanding on the challenges faced by the industry, particularly related to Cybersecurity Risk due to accelerated digitalisation and liquidity risk management.

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Event Snapshots:

Joint IFSB-CMA Saudi Arabia Seminar On Islamic Capital Market
2021-08-03 | Kuala Lumpur, Kuala Lumpur, Malaysia, Malaysia
Type: Seminar

Target Audience: Senior Management from Regulatory and Supervisory Authorities and Market Players

Duration: 4 hours

Program Overview:

The pandemic has unexceptionally affected all economic and financial sectors globally, including the Islamic financial services sector. Given the ongoing uncertainty created by the pandemic and the potential risks it poses for economic growth and financial stability, protecting investors against possible market failures, as well as enhancing transparency and information available to investors are essential in regaining investor trust and confidence in the Islamic capital markets, which is in turn, crucial to prevent any deterioration of market conditions.

Many market failures directly impact investors, including asymmetry of information, agency problems or detrimental conflicts of interest. They may affect the functioning of the market and contribute to the perception that capital markets are an unsafe environment. Thus, it is imperative for policy makers and regulators to address these issues through regulatory intervention, in order to rebuild investor confidence during volatile market conditions and to effectively address possible market failures that could impact the level of protection of investors. Better protected investors are also likely to make more informed investment decisions and be less prone to react irrationally to market events or follow “herd behavior” which are disruptive for financial markets and the economy as a whole. Thus, transparency and investor protection can be seen as factors that ultimately contribute to the stability of financial markets.

The seminar therefore aims to increase awareness of the importance of investor protection and transparency in fostering investor confidence and ultimately the sustainability and stability of the Islamic capital markets and to provide a platform to discuss critical policy issues arising in the context of the current global financial environment.

Objectives

The seminars’ main objectives are to:

Address Islamic finance-specific issues in relation to investor protection.
Discuss best practices for investor protection in the ICM and the elements of a robust investor protection framework.
Highlight best practices and guidelines on disclosure requirements for ICM products, specifically for ṣukūk and Islamic collective investment schemes (ICIS).
Identify issues arising from the current global environment, and share policy actions taken by various regulators and policy makers to address emerging challenges and issues.

Programme Outcome

At the end of the seminar, participants will have a comprehensive understanding on investor protection and disclosure requirements to strengthen investor confidence and improve financial market performance. The seminar will be structured around guidance from IFSB standards, as well as experiences from the industry. Participants will be able to takeaway insights on the various policy approaches and best practices in different jurisdictions to address new and emerging issues related to investor protection and transparency in light of the new global realities.

Programme Approach

Discussion on the best market practices and regulatory challenges
Interactive discussions on a wide array of issues on investor protection and transparency in the ICM

Event Snapshots:

54th Meeting of the Technical Committee of the IFSB (Online)
2021-07-29 | Online
The 54th Meeting of the Technical Committee of the IFSB is scheduled to be held online as follows:

Date
Thursday, 29 July 2021

Time
15:30 – 19:05 (Kuala Lumpur Time, GMT +8)

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

Islamic Collective Investment Schemes (ICIS): Disclosures and Shari’ah Compliance Requirements (IFSB-19)
2021-07-26 16:30 - 18:30 UTC | Kuala Lumpur, Kuala Lumpur, Malaysia, Malaysia
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***

GN-7: Guidance Note on Shari’ah-compliant Lender-Of-Last-Resort (SLOLR Facilities)
2021-07-15 16:30 - 18:30 UTC | Kuala Lumpur, Kuala Lumpur, Malaysia, Malaysia
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***
