Events Search and Views Navigation

Event Views Navigation

Today

IFSB Summit 2017 : Reinvigorating the Momentum of Islamic Finance : Solidifying Resilience and Sustaining Growth

St Regis Abu Dhabi Hotel Corniche, Nation Towers - 1st St - Al Bateen, Abu Dhabi, United Arab Emirates

The IFSB will be organising its IFSB Summit 2017 on 22 - 24 October 2017 in Abu Dhabi, United Arab Emirates. The IFSB Summit 2017 themed, “Reinvigorating the Momentum of Islamic Finance: Solidifying Resilience and Sustaining Growth” will be hosted by the Central Bank of the United Arab Emirates (CBUAE). The IFSB Summit 2017 will take place against the backdrop of a world economy that is undergoing a paradigm shift resulting from the new uncertainties emerging from a changing global geopolitical landscape, evolving monetary policy tightening in the US, sluggish recovery in oil prices and a general uncertainty in economic outlook. These factors, combined with lagged precedents from the earlier years, have contributed towards a general slowdown in the global economy, the impact of which has also been felt across the Islamic financial services industry (IFSI) where some sectors of the industry have been experiencing a slowdown in recent times. The IFSB Summit 2017 seeks to discuss the issues and challenges facing the IFSI in the present conditions with a view to finding opportunities to reinvigorate the growth momentum across the various sectors while solidifying resilience of the institutions offering Islamic financial services. These efforts need to be considered in conjunction with supportive policy reforms by the regulatory and supervisory authorities, particularly at this time of on-going implementation of post-financial crisis strengthened regulatory requirements. Prominent speakers from among regulatory and supervisory authorities, heads as well as senior financial sector supervisors and experts from international financial institutions will be invited to discuss the following sessions: 1.Islamic Finance: From Niche to Mainstream” The FinTech 2.Innovative Progression: Boon or Bane for Traditional Financial Institutions? 3.Implementing New Regulatory Reforms: Balancing between the Soundness and Competitiveness of IIFS”, 4.Islamic Capital Markets: Towards Greater Harmonisation in Cross Border Activities” 5.The Way Forward for Islamic Finance: Strengthening Value Proposition, Sustaining Resilience The Summit welcomes high-level participants from regulatory and supervisory authorities, institutions offering Islamic financial services, international organisations, multilateral development banks, academics, and think tanks among others. The main Summit will be preceded by Pre-Summit events on the 22 October 2017. The full agenda of the Summit and Pre-Summit events are available on the website – www.ifsbsummit2017.com. For more information, please contact the following Secretariats: Pre-Summit and Summit : Ms. Yazmin Aziz ([email protected]) Media : Mrs. Siham Ismail ([email protected]) and Ms. Rosmawatie Abd Halim ([email protected]) Sponsorship Opportunities : Ms. Rosmawatie Abd Halim ([email protected]) Event Snapshots   The IFSB Summit 2017 was held on 23 and 24 October 2017 in St. Regis Hotel, Abu Dhabi, United Arab Emirates, hosted by the Central Bank of the United Arab Emirates (CBUAE). It was themed, “Reinvigorating the Momentum of Islamic Finance: Solidifying Resilience and Sustaining Growth”. H.E. Mubarak Rashed Khamis Al Mansoori, the Governor of the CBUAE and host of the IFSB Summit 2017 welcomed the delegates in his welcoming speech and followed by the Acting Secretary-General of the IFSB, Mr. Zahid ur Rehman Khokher who delivered the Opening Remarks. H.E. Abdullah bin Ahmed Al Saleh, the Under-Secretary of the Ministry of Economy for Foreign Trade and Industry, UAE and Mr. Iqbal Ahmad Khan, the Chief Executive Officer of Fajr Capital Limited, UAE were invited to the Summit to deliver the keynote address at the Opening Session of the IFSB Summit 2017. While at the Gala Dinner which was held in the evening of 23 October 2017, the Keynote Address was delivered by Professor Dr. Volker Neinhaus, Professor of Economics, University of Bochum, Germany and Visiting Professor at the ICMA Centre, Henley Business School, University of Reading, United Kingdom. 21 chairpersons and speakers who were deputy and asisstant governors, heads as well as senior financial sector supervisors and experts from international financial institutions participated and panelled the following sessions: Islamic Finance: From Niche to Mainstream The FinTech Innovative Progression: Boon or Bane for Traditional Financial Institutions? Implementing New Regulatory Reforms: Balancing between the Soundness and Competitiveness of IIFS Islamic Capital Markets: Towards Greater Harmonisation in Cross Border Activities The Way Forward for Islamic Finance: Strengthening Value Proposition, Sustaining Resilience The IFSB Summit 2017 saw the participation of key Islamic financial services industry leaders, from among regulatory and supervisory authorities, international and regional multilateral organisations, financial institutions from over 25 countries as well as the local UAE financial community.   Programme - Event Session(s) Date Time Topics Day 1 22/10/2017 PRE-SUMMIT EVENTS 08:30 - 17:00 Exhibition 08:30 - 09:45 Pre-Summit Event 1: IFSB Members and Industry Engagement Session 09:45 - 10:30 Pre-Summit Event 2 : Industry Development Session by International the Islamic Liquidity Management Corporation Theme : Regulators’ Response Towards Specific Market Enhancement – The IILM Case Study Speaker: Abdoul Aziz Ba, Acting Chief Executive Officer, International Islamic Liquidity Management Corporation 10:30 - 11:00 Coffee Break 11:00 - 12:30 Pre-Summit Event 3 : Country Showcase by Dubai Islamic Economy Development Centre  Theme : "Development Overview Of Islamic Finance In the United Arab Emirates" Speaker: Saeed Mubarak Kharbash, (designation)Dubai Islamic Economy Development Centre 12:30 - 13:30 Lunch 13:30 - 16:00 Pre-Summit Event 4 : Malaysia Country Showcase by the Malaysia International Islamic Financial Centre and Finance Accreditation Agency Welcoming Remarks: Marzunisham Omar, Assistant Governor, Bank Negara Malaysia Panel Discussion 1: Build to Last: Roles of Professional Ancillary Services Moderator: Rafe Haneef, Chief Executive Officer, CIMB Islamic Bank Panelists: Dr. Mohd Daud Bakar, Chairman of the Shariah Advisory Councils of Malaysia / Founder and Group Chairman of Amanie Group, Dr. Nik Norzrul Thani, Senior Partner. Zaid & Ibrahim Co., and Professor Dr. Mohammad Azmi Omar Launch of Finance Accreditation Agency’s Islamic Finance Professional Qualification Structure by Marzunisham Omar, Assistant Governor, Bank Negara Malaysia Panel Discussion 2: Raising the Bar of Islamic Finance Professionals Moderator: Khairul Nizam, Chief Executive Officer, Finance Accreditation Agency Panelists: Wan Abdul Rahim Kamil, ICM Consultant, Finance Accreditation Agency 16:00 - 16:30 Coffee Break 20:00 - 22:00 Summit Welcome Dinner Hosted by the Central Bank of the UAE Emirates Palace Abu Dhabi Day 2 23/10/2017 IFSB SUMMIT 2017 (DAY 1) 08:30 - 17:30 Exhibition 08:30 - 09:30 Registration and Welcome Coffee 09:30 - 10:30 Opening & Keynote Session 10:30 - 11:00 Coffee Break & Networking

IFSB-FIS Workshop for Regulatory and Supervisory Authorities (Banking Sector)

Training Room 3.1 and 3.2, Sasana Kijang 2, Jalan Dato Onn, Kuala Lumpur, Malaysia

This 5-day Workshop is tailored for the regulatory and supervisory authorities for the banking sector, thus intended to be a Train the Trainer Programme for the staff on the IFSB Standards. 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. 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 13/11/2017 09:00 - 09:30 Registration 09:30 - 09:45 Opening & Welcoming Address and Group Photo 09:45 - 11:15 Session 1 - IFSB-17: Core Principles for Islamic Finance Regulation (Banking Segment) Necessary Preconditions for Effective Supervision Assessment Methodology for CPIFR Responsibilities, Objectives and Powers Independence, Accountability, Resourcing and Legal Protection for Supervisors 11:15 - 11:30 Coffee Break 11:30 - 13:00 Session 2 - IFSB-17: Core Principles for Islamic Finance Regulation (Banking Segment) - Cont’d Cooperation and Collaboration Supervisory Approach, Techniques and Tools Treatment of Investment Account Holders (IAHs) Corporate and Sharī`ah Governance Framework 13:00 - 14:00 Lunch and Prayer 14:00 - 16:00 Session 3 - IFSB-17: Core Principles for Islamic Finance Regulation (Banking Segment) - Cont’d Risk Management Process Transactions with Related Parties Transparency and Market Discipline Case Study 16:00 - 16:15 Coffee Break Day 2 14/11/2017 09:30 - 11:00 Session 4 - IFSB-15: Revised Capital Adequacy Standard for IIFS Components of Capital Capital Conservation Buffer Countercyclical Buffer Domestic Systemically Important Banks 11:00 - 11:30 Coffee Break 11:30 - 13:00 Session 5 - IFSB-15: Revised 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 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 - Cont’d Credit Risk Mitigation Recognition of Ratings by External Credit Assessment Institution Group Exercise on Leverage Ratio Group Exercise on Countercyclical Buffer 16:00 - 16:30 Coffee Break Day 3 15/11/2017 09:30 - 11:00 Session 7 - IFSB-15: Revised Capital Adequacy Standard for IIFS - Cont’d Understanding the Market Risk in Islamic Finance Policies and Procedures for Market risk Guidance on Valuation Practices Calculation of Capital Requirements for Market risk 11:00 - 11:30 Coffee Break 11:30 - 13:00 Session 8 - IFSB-15: Revised Capital Adequacy Standard for IIFS - Cont’d Overview of Operational Risk Understanding Operational Risk in Islamic Finance Measuring Operational Risks Case Studies on Legal Risk and Shariah Non-compliant Risk 13:00 - 14:00 Lunch and Prayer 14:00 - 16:00 Session 9 - IFSB-15: Revised Capital Adequacy Standard for IIFS - Cont’d Group Exercise on Operational Risk Group Exercise on Market Risk 16:00 - 16:30 Coffee Break Day 4 16/11/2017 09:30 - 11:00 Session 10 - 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) Operational Considerations for HQLA Infrastructure Issues in the Availability of Sharī`ah-compliant HQLA 11:00 - 11:30 Coffee Break 11:30 - 13:00 Session 11 - GN-6: Guidance Note on Quantitative Measures for Liquidity Risk Management - Cont’d Components of Total Net Cash Outflows Formula for Calculating NSFR Available and Required Stable Funding Case Study 13:00 - 14:00 Lunch and Prayer 14:00 - 16:00 Session 12 - GN-6: Guidance Note on Quantitative Measures for Liquidity Risk Management - Cont’d The Internal Liquidity Adequacy Assessment Processes & Supervisory Liquidity Review Process Principles for Applying Alternative Liquidity Approaches Disclosure Requirements for LCR and NSFR Case Study 16:00 - 16:30 Coffee Break Day 5 17/11/2017 09:30 - 10:30 Experience Sharing by International Islamic Liquidity Management Corporation 10:30 - 10:45 Coffee Break 10:45 - 12:00 Session 14 - Experience Sharing on the IFSB Standards’ Implementation 12:00 - 12:15 Closing & Certificate Giving Ceremony 12:15 - 14:30 Lunch and Prayer

16th Islamic Financial Stability Forum : Recovery, Resolution and Insolvency for Institutions Offering Islamic Financial Services (IIFS)

Lanai Kijang Kuala Lumpur, Malaysia

The 16th IFSF will be held on 11 December 2017, in conjunction with 31st Meeting of the Council of the IFSB, in  Kuala Lumpur, Malaysia, jointly hosted by the Central Bank of the Islamic Republic of Iran and Bank Negara Malaysia. The 16th IFSF aims to provide a forum to facilitate discussion and better understanding of the emerging issues related to resolution, recovery and insolvency, particularly with respect to the IFSI and to identify opportunities and directions for future work in this critical area. For more information, please contact Ms Yazmin Aziz ([email protected])   Programme - Event Session(s) Date Time Topics Day 1 11/12/2017 15:00 - 15:15 Arrival of the IFSB Full and Council Members and Forum Participants 15:15 - 15:30 Chairman’s Remarks 15:30 - 16:30 Presentation on Recovery, Resolution and Insolvency for Institutions Offering Islamic Financial Services (IIFS) Speaker : Dr. Michael McMillen, Partner, Curtis, Mallet-Prevost, Colt & Mosle LLP and IFSB Consultant Discussants: 1. Mr. Rafiz Azuan Abdullah, Chief Executive Officer, Malaysia Deposit Insurance Corporation 2. Mr. Madzlan Mohamad Hussain, Partner, ZICO Law, Malaysia 16:30 - 17:00 Discussion and Q&A Session 17:00 - 17:30 Coffee and Networking Break End of Forum

IFSB-FIS Workshop Series (Pakistan)

Pearl Continental Club Rd، opposite PIDC, Civil Lines, Karachi, Pakistan

This 4-day Workshop and is tailored for the State Bank of Pakistan and the Islamic banking institutions in Pakistan. The Workshop is supported by the Islamic Development Bank and it will cover the following IFSB Standards and publications: IFSB-15 : Revised Capital Adequacy Standard for Institutions offering Islamic Financial Services (IIFS) IFSB-12: Guiding Principles on Liquidity Risk Management for IIFS GN-6: Guidance Note on Quantitative Measures for Liquidity Risk Management in IIFS TN-2: Technical Note on Stress Testing for IIFS WP-01: Strengthening the Financial Safety Net: The Role of Sharī`ah-compliant Lender-of Last-Resort (SLOLR) Facilities as an Emergency Financing Mechanism WP-06: Strengthening the Financial Safety Net: The Role and Mechanisms of Sharīʻah-compliant Deposit Insurance Schemes (SCDIS) 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 [email protected]. Programme - Event Session(s) Date Time Topics Day 1 15/01/2018 08:30 - 09:00 Registration 09:00 - 09:30 Welcoming Remarks and Group Photo 09:30 - 11:00 Session 1: 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 2: IFSB-15: Revised 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 Past Due Receivables & Other Assets 13:00 - 14:30 Lunch and Prayer 14:30 - 16:30 Session 3: IFSB-15: Revised Capital Adequacy Standard for IIFS (Cont’d) Credit Risk Mitigation Credit Risk Mitigation Techniques Commonly Used by IIFS Credit Risk Mitigation Approaches Group Exercise Day 2 16/01/2018 09:30 - 11:00 Session 4: IFSB-15: Revised Capital Adequacy Standard for IIFS (Cont’d) 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 5: IFSB-15: Revised Capital Adequacy Standard for IIFS (Cont’d) Overview of Operational Risk Understanding Operational Risk in Islamic Finance Measuring Operational Risks Group Exercise 13:00 - 14:30 Lunch and Prayer 14:30 - 16:30 Session 6: WP-01 and WP-06: Working Papers on SLOLR and SCDIS Sharī`ah Perspective on LOLR and Sharī`ah Issues in LOLR Potential Structures for Developing the SLOLR Facility Sharīʻah-compliant Deposit Insurance Current Status And Supervisory Assessment of SCDIS Day 3 17/01/2018 09:30 - 11:00 Session 7: IFSB-12: Guiding Principles on Liquidity Risk Management of IIFS Liquidity Risk and Liquidity Risk Management Role of the Board of Directors Identification and Measurement of Liquidity Risk Interactions of Liquidity Risk and Implications of Islamic Financing Contracts 11:00 - 11:30 Coffee Break 11:30 - 13:00 Session 8: IFSB-12: Guiding Principles on Liquidity Risk Management of IIFS (Cont’d) Managing Sharī`ah-Compliant Collateral Foreign Exchange Liquidity Risk Reporting and Disclosure of Liquidity Risk Guiding Principles for Supervisory Authorities 13:00 - 14:30 Lunch and Prayer 14:30 - 16:30 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 18/01/2018 09:30 - 11:00 Session 10: GN-6: Guidance Note on Quantitative Measures for Liquidity Risk Management (Cont’d) Formula for Calculating NSFR Available and Required Stable Funding Role of Supervisory Authorities Case Study 11:00 - 11:30 Coffee Break 11:30 - 13:00 Session 11: TN-2: Stress Testing for IIFS Basic Requirements For Islamic Banks Stress Tests Solvency Stress Testing for Islamic Banks Role of RSAs and Critical Considerations Liquidity Risk of Islamic Banks 13:00 - 14:30 Lunch and Prayer 14:30 - 16:30 Session 12: TN-2: Stress Testing for IIFS (Cont’d) Liquidity Stress Testing for Islamic Banks Stress Test Designs and Models Recent Developments In Stress Tests Case Study 16:30 - 16:45 Closing & Certificate Giving Ceremony

IFSB-FIS Workshop Series (Tunisia)

Central Bank of Tunisia PQQ3+MWM, شارع 14 جانفي, Sfax, Tunisia

This 4-day Facilitating the Implementation of the IFSB Standards (FIS) Workshop is tailored for the Central Bank of Tunisia and supported by the Islamic Development Bank. It 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-15: Revised Capital Adequacy Standard for Institutions offering Islamic Financial Services (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 event is by INVITATION only. For queries, please contact the IFSB Secretariat, Mr. Hamizi Hamzah at [email protected].

12th IFSB-INCEIF Executive Forum: Preserving Wealth and Generating Long-term Value through Islamic Finance

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 [email protected]   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

IFSB-FIS Workshop Series (Lebanon)

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 [email protected]. 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

Public Hearing on the IFSB Exposure Draft

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  (ED-21) Revised Standard on Disclosures to Promote Transparency and Market Discipline for Institutions Offering Islamic Financial Services  (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 (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 (ED-22) 12:45 - 13:00 Closing Remarks

IFSB-FIS Workshop Series (Kazakhstan)

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 [email protected]. 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

IFSB Annual Meetings and Side Events 2018 in Kuwait City, Kuwait

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.    

32nd Council Meeting, 3 May 2018, Kuwait City, Kuwait

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  

Level 5, Sasana Kijang, Bank Negara Malaysia, 2, Jalan Dato’ Onn, 50480 Kuala Lumpur, Malaysia.

Standard Development

Data

Events & Media

Consultations

MEMA

Policies

Level 5, Sasana Kijang, Bank Negara Malaysia, 2, Jalan Dato’ Onn, 50480 Kuala Lumpur, Malaysia.

About IFSB

Standard Development

Publications

Data

Events & Media

Implementations

Consultations

MEMA

Policies

© 2025 ISLAMIC FINANCIAL SERVICES BOARD . All Rights Reserved.