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 [email protected]. Noor Azmah Mohd Yusoff Tel: +603-9195 1434 [email protected] Ms. Natejah Ahmad Tel.: +603 9195 1426 or +603 9195 1400 [email protected]. Rosmawatie Abdul Halim Tel: +603-9195 1425 [email protected] 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

  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

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 ([email protected]) 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

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