The IFSB organised its 7th Islamic Financial Stability Forum (7th IFSF) on 7 April 2013, in Qatar. The 7th IFSF was held in conjunction with the 22nd Council Meeting of the IFSB, hosted by Qatar Central Bank. Programme - Event Session(s) Date Time Topics Day 1 07/04/2013 14:30 - 14:40 Chairman’s Remarks H.E. Abdullah Saud Al-Thani, Governor, Central Bank of Qatar, and Chairman, Council of the IFSB 14:40 - 15:40 Financial Reforms in Response to the Global Financial Crisis: Lessons for Islamic Finance in Ensuring Financial Stability Performance of the financial services industry post crisis Financial regulatory and supervisory reform: Policies and institutions, implementation and progress to date Integrating Islamic finance into the existing financial architecture Strengtheningthe stability and resilience of the Islamic financial services industry moving forward: Strategies and challenges in implementation Speaker: H.E. Dr. Zeti Akhtar Aziz, Governor, Bank Negara Malaysia Discussant 1. H.E. Dr. Atiur Rahman, Governor, Bangladesh Bank 2. H.E. Yaseen Anwar, Governor, State Bank of Pakistan 15:40 - 16:00 Coffee and Networking Break End of Forum Downloadable Document(s) 1.) Event Session(s) - PDF Format

The fourth edition of the Forum series was organised in response to the increasing interest shown by European countries in Islamic financial services which is tailored for European regulators and market players to discuss on issues and challenges that Europe may face in exploring the opportunities and developing its’ Islamic financial services industry. 13 chairpersons and speakers who were senior financial sector supervisors, market players, and experts from international financial institutions were invited to discuss the following four issues at the Forum: Overview of the Islamic Financial Landscape: Globally and in Europe Assessing the Legal, Regulatory and Institutional Challenges in Light of Developments in Europe Sukūk in Europe: Response to a Changing Financial Environment Panel Discussion on Islamic Finance in Europe: Challenges and Opportunities in the Current Financial Climate The Forum saw the attendance of approximately 85 participants from government, regulatory and supervisory bodies, capital markets and industry players as well as academicians. The Forum was hosted by Banca d'Italia. Event Snapshots Programme - Event Session(s) Date Time Topics Day 1 09/04/2013 09:00 - 09:30 Registration 09:30 - 10:15 Opening and Keynote Session 10:15 - 11:30 Session 1: Overview of the Islamic Financial Landscape: Globally and in Europe This session explicates the growth and trend of the global Islamic financial services industry, particularly in Europe, its growth drivers, as well as prospects and challenges facing the industry post-crisis. 11:30 - 11:45 Coffee Break 11:45 - 13:00 Session 2: Assessing the Legal, Regulatory and Institutional Challenges in Light of Developments in Europe The introduction of further regulatory and supervisory reforms post-crisis to promote financial stability in Europe is expected to pose new challenges to the development of the Islamic financial services industry in the region. This session aims to identify the challenges, particularly in the legal, regulatory and institutional areas, and proposed measures that will enable Islamic financial services to be offered in the Euro area. 13:00 - 14:00 Lunch 14:00 - 15:15 Session 3: Sukūk in Europe: Response to a Changing Financial Environment The financial crisis poses challenges to the development and progress of both conventional and Islamic finance in Europe. This session aims to explore the role of Sukūk with reference to their possible value addition and the financial stability and supervisory issues involved. 15:15 - 15:30 Coffee Break 15:30 - 17:00 Session 4: Panel Discussion on Islamic Finance in Europe: Challenges and Opportunities in the Current Financial Climate The session proposes to identify the current challenges and opportunities presented by Islamic Finance for the European nations from various viewpoints. 17:00 - 17:20 Concluding Remarks Downloadable Document(s) 1.) Event Session(s) - PDF Format 2.) Brochure 3.) Hotel Reservation Form - Grand Hotel de la Minerve 4.) Hotel Reservation Form - Jumeirah Hotel 5.) Hotel Reservation Form - Quirinale Hotel 6.) Hotel Reservation Form - St. Regis Hotel 7.) List of Hotels in Rome

The Executive Forum aims to provide a platform for global leaders in Islamic finance to discuss selected emerging issues faced by the global Islamic financial services industry, with special emphasis on issues related to the supervisory and prudential regulation, both at national and international levels. The Executive Forum will harness the experiences of a distinguished pool of global experts, regulators, supervisors, academics and industry practitioners. Programme - Event Session(s) Date Time Topics Day 1 29/04/2013 EXECUTIVE FORUM: DAY 1 08:30 - 09:30 Morning Coffee and Registration 09:30 - 09:45 Opening and Welcoming Remarks 09:45 - 11:00 Firm-Wide Risk Management Framework for Islamic Banks Why Risk Management Approaches in Islamic Banks Should Differ from the Conventional Approaches Firm-Wide Risk Management: Solutions for a Holistic Approach in Managing Risks in Islamic Banking Operations Role of Corporate Governance in Islamic Banking Risk Management: How We Can Learn from International Best Practices Social Responsibility and Fiduciary Risk Management: Key for Sustainable Islamic Banking Business 11:00 - 11:30 Coffee Break 11:30 - 13:00 Credit Risk Minimisation in Islamic Banking Practices How Global Financial Regulatory Regimes on Credit Risk are Applicable to Islamic Banking Operations Finding Ways to Manage Specificities of Islamic Finance Related to Credit Risk in the Islamic Banking Business Lessons Learnt from Previous Default Cases in Islamic Banking Portfolios Imminent Challenges in Credit Risk Management 13:00 - 14:00 Group Photo, Lunch and Prayers 14:00 - 15:30 Resolving Issues in Liquidity Management in Islamic Banks Challenges in Liquidity Risk Management in Islamic Banks Development of Instruments for Liquidity Management: How Advanced Are We? Developing Effective Liquidity Management Policies Sharī`ah-Compliant Lender of the Last Resort (LOLR) Facilities: Are they Adequate? 15:30 - 16:00 Coffee Break 16:00 - 17:30 Risk-Sharing via Equity Financing: Enhancing Potentials and Confronting Issues Exploring Business Opportunities for Equity Investment and Equity Financing How to Apply Risk-Sharing Equity Investment and Financing in Islamic Banking Operations Mitigating Risks in Equity Investment and Financing Regulatory and Commercial Issues in Financing Risk-Sharing Initiative Day 2 30/04/2013 EXECUTIVE FORUM: DAY 2 08:30 - 09:30 Morning Coffee 09:30 - 11:00 A Holistic Approach in Managing Sharī`ah Non - Compliance Risks Sharī`ah Non-Compliant Risks and Potential Impacts on Islamic Banks How to Measure Sharī`ah Non-Compliant Risks Developing Risk Mitigating Techniques and Infrastructures for Sharī`ah Non-Compliant Risks Necessary Conditions for Effective Sharī`ah Non-Compliant Risk Management 11:00 - 11:30 Coffee Break 11:30 - 13:00 Regulating Minimum Capital Requirements to Foster Stability of the Islamic Banking Industry Impact of the Changes in Global Regulatory Capital Regimes, including Basel III, on Islamic Banks Recognising the Specificities of Islamic Banks in Capital Adequacy Requirements Examining Current Practices in the Structure of Capital Adequacy Ratio (CAR) of Islamic Banking in Various IFSB Member Countries Challenges in the Implementation of IFSB-2: Capital Adequacy Requirements for Institutions offering Islamic Financial Services 13:00 - 14:00 Lunch and Prayers 14:00 - 15:30 Supervisory Perspectives on Risk and Governance Prudential Risks in Islamic Banking and Takāful - How do these Differ from Conventional Banking? Governance, Remuneration and Conflicts of Interest Pragmatism and Practicality Enforceability, Market Conduct and Affinity Fraud 15:30 - 16:00 Coffee Break 16:00 - 17:30 Risk-based Supervision in Islamic Banking Rationale for Risk-Based Supervision How the Specificities of Islamic Banking Businesses are Incorporated in Risk-Based Supervision Rules and Regulations on Risk-Based Supervision: International and Country Perspectives Overcoming Challenges in Risk-Based Supervision in Islamic Banks 17:30 - 18:00 Closing Ceremony & Certificate Presentation Downloadable Document(s) 1.) Event Session(s) - PDF Format 2.) Brochure

The 10th Islamic Financial Services Board Summit 2013 was held in Sasana Kijang, Kuala Lumpur, Malaysia, hosted by Bank Negara Malaysia. The theme of the Summit “The Future of the Islamic Financial Services Industry: Resilience, Stability and Inclusive Growth”, aimed to examine regulatory policies that underpin inclusive growth with stability. These include the potentially significant impact on the (IFSI) arising from further reforms at the global level by international intergovernmental organisations and international standard-setting bodies to promote global financial stability. As the global industry enters its next phase of growth in an increasingly challenging economic and financial environment, this necessitates the need to reflect on the lessons learnt, including from the global crisis, and to have in place a comprehensive regulatory framework to ensure a resilient and stable industry moving forward, in particular given the escalating cross-sectoral nature and interconnectedness of the industry. 18 chairmen and speakers who were Governors and deputy governors as well as senior financial sector supervisors and experts from international financial institutions participated as speakers. The Summit was attended by over 300 delegates from 35 countries comprising of senior officials from supervisory and regulatory bodies as well as representatives from international institutions, market players, accreditation, insurance and Takāful, academia as well as other stakeholders of the Islamic financial services industry. The Summit was preceded by 2-day pre-Summit events as follows: 14 May 2013 IFSB Meet the Members Lunch & Release of the Islamic Financial Services Industry Stability Report 2013 IFSB-IRTI Forum on Mid-term Review of the “Islamic Financial Services Industry Development: Ten Year Framework and Strategies” 15 May 2013 Islamic Finance Development Showcase: The Role of Multilaterals in Developing the Industry by the Islamic Corporation for the Insurance of Investment & Export Credit (ICIEC) & Istanbul Stock Exchange (ISE) Business Talk on Ethical Investing: Future Outlook and Opportunities - by the Malaysia International Islamic Financial Centre (MIFC) Knowledge Sharing Partner Session: Facets of Islamic Finance: Stability, Resilience and Financial Inclusion by International Centre for Education in Islamic Finance (INCEIF). IFSB 10th Anniversary Dinner, 16 May 2013 In conjunction IFSB’s 10th Anniversary, an Anniversary Dinner was organised to commemorate the milestones and achievements of the IFSB over this decade, as well as to accord a tribute to the IFSB members and industry stakeholders for the support and cooperation to the organisation. In addition to the commemoration was to honour the Founding Members of the organisation in 2002. Four (4) out of the total nine (9) Founding Members attending the Summit were: H.E. Dr. Zeti Akhtar Aziz, Governor, Bank Negara Malaysia H.E. Dr. Ahmad Mohamad Ali Al-Madani, President, Islamic Development Bank H.E. Dr. Ishrat Hussain, Former Governor, State Bank of Pakistan H.E. Dr. Sabir Hassan, Former Governor, Central Bank of Sudan Event Snapshots Programme - Event Session(s) Date Time Topics Day 1 14/05/2013 PRE-SUMMIT EVENTS - DAY 1 12:00 - 14:00 IFSB - Meet the Members Lunch (Only for IFSB Members) 11:30 - 12:00 Registration 12:00 - 12:20 Welcoming Remarks 12:10 - 13:10 Interactive & Q&A Session 13:10 - 14:00 Lunch 14:00 - 17:00 IFSB-IRTI Forum on Mid term Review of the “Islamic Financial Services Industry Development : Ten Year Framework and Strategies” Day 2 15/05/2013 PRE-SUMMIT EVENTS - DAY 2 09:00 - 11:30 Country Showcase - 1 11:00 - 13:30 Business Talk by MIFC 13:00 - 19:00 Summit Pre-Registration 14:00 - 17:00 Knowledge Sharing Partner Session by INCEIF 14:00 - 14:30 Registration 14:30 - 14:40 Welcoming Remarks 14:40 - 15:40 Panel Discussion 15:40 - 16:30 Q&A Session 20:00 - 22:00 Summit Welcome Reception (hosted by Bank Negara Malaysia) (for Summit Registered Participants Only) Day 3 16/05/2013 10TH ISLAMIC FINANCIAL SERVICES BOARD SUMMIT - DAY 1 08:30 - 09:30 Registration 09:30 - 10:30 Opening and Keynote Session 10:30 - 11:00 Coffee Break & Networking 11:00 - 12:30 Session 1 : Financial Regulatory Reforms: Global Overview This session aims to highlight the reform initiatives undertaken at international level to promote financial stability and their impact on the Islamic financial services industry (IFSI). In the context of the medium-term outlook for the global economy, the session will assess the implications of global regulatory reforms which will impact the capital buffers and liquidity positions of financial institutions. The implementation of Basel III requirements poses both challenges and opportunities for Islamic financial institutions, which will have to devote significant efforts and resources to meet the new international standards. 12:30 - 14:00 Lunch 14:00 - 15:30 Session 2 : Cross-sectoral Approach to the Regulation of Islamic Finance and Market Development: Lessons Learnt This session aims to identify measures to be undertaken in light of the interconnectedness of Islamic financial institution and market segments. The expansion of Takāful and capital market segments in Islamic finance underscores the cross-sectoral nature of the activities of institutions in the IFSI, and the common features of their banking, securities (fund management) and Takāful operations. This session will evaluate the state of progress in the corresponding development of the cross-sectoral regulatory and prudential framework. The work of various international standard-setters in the preparation of core principles for prudential regulation and supervision will be examined in the context of understanding the lessons that can be learnt from them. 15:30 - 16:00 Coffee Break & Networking 16:00 - 17:30 Session 3 : New Markets, New Frontiers - Prospects and Challenges This session aims to identify the progress of development in growth areas for Islamic finance, as well as the prospects and challenges. As Islamic finance expands into new markets and across new frontiers in Africa, Asia, and the Middle East the prospects for broadening and sustaining private sector financing whilst responding to the needs of a diverse range of customers and consumers is raising significant challenge, as well as opportunities. The challenges include, but are not limited to, legal, regulatory, tax and other impediments. Addressing these impediments are also a focus in Europe where the expansion of the industry in the United Kingdom and Luxembourg has been followed by detailed preparation of enabling pre-conditions in other countries including France, Ireland and Italy. 20:00 - 22:00 IFSB 10th Anniversary

The 2nd edition of the IFSB-INCEIF Executive Forum focuses on strengthening both corporate and Sharī`ah governance mechanisms in the Islamic banking industry. Corporate governance is discussed in the context of an evolving industry that is subject to the complexities of business, as well as to the need to promote Sharī`ah compliance in Islamic banking operations. The confirmed speakers are: Mr. Abdelilah Belatik, Assistant Secretary - General, Islamic Financial Services Board Prof. Ahmet Faruk Aysan, Member of the Board, Monetary Policy Committee of Turkey, Central Bank of the Republic of Turkey Dr. Asyraf Wajdi Dato' Dusuki, President, Islamic Da'wah Foundation (YADIM), Malaysia Mr. Jaffar Mohamed Ahmed, Head of Group Risk Management, Al Baraka Banking Group, Bahrain Mr. Mohamed Ismail Mohamed Shariff, Adjunct Professor, INCEIF & Managing Partner, Mohamed Ismail & Co., Advocates & Solicitors, Malaysia Mr. Rustam Mohd Idris, Deputy Director, Islamic Banking and Takaful Department, Bank Negara Malaysia Mr. Saleem Ullah, Director, Islamic Banking Department, State Bank of Pakistan, Pakistan Prof. Dr. Syed Abdul Hamid Aljunid, Professor of Corporate Governance and Ethics, INCEIF, Malaysia For more information on the Executive Forum, please email Mrs. Azizakhon Yarlaeva at [email protected]   REGISTRATION IS CLOSED FOR THIS EVENT Programme - Event Session(s) Date Time Topics Day 1 26/08/2013 08:30 - 09:30 Morning Coffee and Registration 09:30 - 09:45 Opening and Welcoming Remarks 09:45 - 11:00 Session 1: Thoughts on Corporate Governance Corporate Governance: Lessons Drawn from the Global Financial Crisis Who should be protected?: Conflicting Issues in Shareholder vs. Stakeholder Protection The Economics of Corporate Governance: Cost-Benefit Analysis Leadership and Ethics: Essential Elements in Business Reform 11:00 - 11:30 Coffee Break 11:30 - 13:00 Session 2: Getting it Right: Building Robust Corporate Governance Structures in Islamic Banks A Look at the Ultimate Objectives of Corporate Governance for Islamic Banks International Standards on Corporate Governance and their Applicability to Islamic Banks Protecting Investment Account Holders: From Governance Committees to Additional Requirements for Disclosure and Transparency Ensuring Sharī`ah Compliance: A Long Winding Road to Achieve Maqāsid Al-Sharī`ah 13:00 - 14:00 Lunch and Prayers 14:00 - 15:30 Session 3: Good Governance Starts from the Top: Creating Responsible Board of Directors (BOD) Constructing Term of References for the BOD Designing the Most Appropriate Board Structure, Processes, and Composition of Directors Gap Analysis and Performance Evaluation of the BOD Developing BOD Culture and Safeguarding Values 15:30 - 16:00 Coffee Break 16:00 - 17:30 Session 4: Going the Extra Mile: Enhancing Risk Management and Internal Control for Islamic Banks Integrating Governance, Risk and Compliance: Towards Effective BOD Oversight Setting the BOD’s Expectations for Risk Management and Internal Controls Assessing the Performance of Chief Risk Officers and Internal Audit Functions Minimising Overlaps in Responsibilities of the Governance, Risk Management Committee and Audit Committees Perspectives on Corporate Fraud, Corruption and Whistle-blowing Day 2 27/08/2013 08:30 - 09:30 Morning Coffee 09:30 - 11:00 Session 5: Beyond Borders: Understanding Global Practices of Sharī`ah Governance Comparing Various Sharī`ah Governance Models and Practises No One Size Fits All: Searching for the Appropriate Structures and Approaches to Sharī`ah Governance Pre-requisites for Effective Sharī`ah Governance Systems Evaluating the Performance of the Sharī`ah Board and its Governance Structures 11:00 - 11:30 Coffee Break 11:30 - 13:00 Session 6: Promoting Integration of Corporate and Sharī`ah Governance: Identifying the Issues and Addressing the Challenges Structuring Rules, Policies and Procedures to Meet International Requirements for Corporate and Sharī`ah Governance Segregation of Duties: Addressing Potential Overlaps Between Corporate and Sharī`ah Governance Breaking “The Silo Mentality”: Building Bridges and Enhancing Communication Between Corporate and Sharī`ah Governance Functions Lessons from the Failures and Potential Failures of Sharī`ah Governance 13:00 - 14:00 Lunch and Prayers 14:00 - 15:30 Session 7: Moving Forward: Ongoing Challenges in Corporate and Sharī`ah Governance of Islamic Banks Global Regulatory Reforms on Corporate Governance: Its Relevance for the Islamic Banking Industry Risk-based Compensation: Is It Necessary for Islamic Banks Challenges in Strengthening the Roles of Sharī`ah Board Analysing the Role and Influence of Institutional Investors 15:30 - 16:00 Coffee Break 16:00 - 17:30 Session 8: Supervisory Review of Corporate and Sharī`ah Governance Practices in Islamic Banks Developing Supervisory Guidance and Framework for the Supervision of Corporate and Sharī`ah Governance Regulatory Compliance and Reporting: Supervisors’ Expectations Corrective Actions for Breaches in Corporate and Sharī`ah Governance Cross-border Supervision of Corporate and Sharī`ah Governance 17:30 - 18:00 Closing Ceremony Downloadable Document(s) 1.) Event Session(s) - PDF Format 2.) Brochure

The Seminar on the Prospects and Challenges in the Development of Islamic Finance for Bangladesh was held on 23 - 24 September 2013 in Dhaka, Bangladesh, hosted by Bangladesh Bank. This Seminar is part of the IFSB Seminar on Islamic Finance series which are held in jurisdictions wishing to explore the possibilities, opportunities and challenges of Islamic finance. This Seminar aimed to create greater awareness on the specificities of the Islamic financial services industry, and discuss the issues in developing Islamic finance in Bangladesh as well as examining the regulatory and other pre-conditions needed to sustain an orderly development of Islamic finance, while seeking to identify the benefits Islamic finance can bring to Bangladesh. The proceedings of this Seminar will be published as an IFSB publication. 20 chairpersons and speakers who were senior financial sector supervisors, market players, Takāful,and experts from international financial institutions participated and discussed the following issues at the Seminar:- - Global Overview, Issues, Challenges and Opportunities - Islamic Capital Markets and Liquidity Management : Facilitating Local and Cross-Border Sharī`ah- Compliant Financing and Investment - Legal, Regulatory and Enabling Framework - Financial Inclusion through Islamic Finance - The Way Forward for the Development of Islamic Finance for Bangladesh Approximately 100 participants from government, regulatory and supervisory bodies and industry players as well as academicians attended the Seminar. Event Snapshots Programme - Event Session(s) Date Time Topics Day 1 23/09/2013 08:45 - 09:30 Registration 09:30 - 10:30 Opening and Keynote Address 10:30 - 11:00 Coffee Break 11:00 - 12:30 Session 1: Global Overview, Issues, Challenges and Opportunities This session highlights the progress and growth of the Islamic financial services industry at the global and regional level. Though most visible in parts of Asia and the Middle East, the rapid expansion of Islamic finance is a significant phenomenon in Africa, Europe and other parts of the world. This session highlights the cross border and cross-sectoral performance of the industry, while outlining the challenges and opportunities of its growth in Bangladesh. 12:30 - 14:00 Lunch 14:00 - 15:30 Session 2: Islamic Capital Markets and Liquidity Management : Facilitating Local and Cross-Border Sharī`ah-Compliant Financing and Investment This session covers recent trends and developments in various types of Islamic capital market products such as Sukūk, Sharī`ah compliant equities, fund and asset management etc. Speakers will share how Sukūk can provide an alternative financing source for both public and corporate sectors. Case studies will be presented on national experiences in developing Sukūk issuance programmes. This session will also illuminate how Bangladesh can benefit from Sharī`ah-compliant instruments and investment flows within the region. In addition, this session discusses the liquidity management challenges faced by the Islamic financial services industry due to unavailability or inadequate Sharī`ah-compliant instruments and enabling building blocks. 15:30 - 16:00 Coffee Break 16:00 - 17:30 Session 3: Legal, Regulatory and Enabling Framework The session focuses on the legal and regulatory issues and challenges in establishing a vibrant and resilient Islamic financial services industry. It includes, among others, infrastructure components of financial services industry such as enabling legal framework and Sharī`ah compliant mechanisms for providing lender of last resort and deposit insurance facilities. The session also aims to cover other elements such as macroprudential surveillance, disclosure regime and insolvency regimes etc. Day 2 24/09/2013 09:30 - 11:00 Session 4: Financial Inclusion through Islamic Finance The session provides an overview of the different types of policies and interventions that collectively help shape a more inclusive financial sector. In this context, it aims to provide the perspective in which Islamic finance can help to achieve the objective of an inclusive growth and development in various countries. The speakers will highlight how the coordination between various stakeholders and innovations in Sharī`ah compliant products can increase the access to financing for individuals as well as micro-enterprises and SMEs. 11:00 - 11:30 Coffee Break 11:30 - 13:00 Session 5: Panel Discussion on the Way Forward for the Development of Islamic Finance for Bangladesh The session identifies the current challenges and opportunities presented by Islamic finance for Bangladesh from various viewpoints, including public and private sectors. It will include discussions on a possible roadmap and the way forward for Bangladesh Islamic financial services industry that can support the objectives of a sustained growth and development in the country. 13:00 - 13:30 Concluding Remarks 13:30 - 14:30 Lunch Downloadable Document(s) 1.) Event Session(s) - PDF Format 2.) List of Confirmed Chairpersons and Speakers 3.) Pan Pacific Sonargaon Dhaka - Hotel Reservation Form 4.) Radisson Blu Water Garden Hotel Dhaka - Hotel Reservation Form

The Conference aimed to create greater awareness on the potentials and opportunities brought about by Islamic finance to the region, and explore the challenges issues related to its further development and progress. The Conference examined the experiences of selected Asian countries, with focus on the regulatory requirements and other pre-conditions needed to establish and sustain the orderly development of Islamic finance, while seeking to identify the benefits Islamic finance can bring to the respective countries. The sessions and discussions also drawn upon the perspectives of (a) market opportunities and challenges, (b) global and national regulatory requirements, and (c) facilitation of cross-border investment flows. The Conference also aimed to create greater opportunities for interaction and cooperation among the members of the IFSB and the ADB. The proceedings of this Conference will be published as an IFSB publication. 23 chairpersons and speakers who were senior financial sector supervisors, market playersand experts from international financial institutions participated and discussed the following issues at the Conference:-     Islamic Finance for Asia: Innovation, Inclusion and Growth Islamic Finance: Stability, Resilience and Regulatory Issues Islamic Banking: Financial Inclusion as a Core Concept Islamic Capital Market: The Role of Sukûk for Development Implementation of the IFSB Standards The Way Forward: A Roadmap for Asia Approximately 126 participants from government, regulatory and supervisory bodies and industry players attended the Conference. Event Snapshots Programme - Event Session(s) Date Time Topics Day 1 04/11/2013 DAY 1 - CONFERENCE ON ISLAMIC FINANCE FOR ASIA: DEVELOPMENT, PROSPECTS AND INCLUSIVE GROWTH 08:45 - 09:30 Registration 09:30 - 09:50 Opening and Welcoming Addresses 09:50 - 10:10 Keynote Address 10:10 - 10:30 Coffee Break 10:30 - 11:15 Session 1: Islamic Finance for Asia: Innovation, Inclusion and Growth This session seeks to establish the value proposition of Islamic finance in the region, especially as a tool for financial inclusion and an alternative financing source for both public and corporate sectors, in particular in infrastructure development. The session also touches on key factors supporting growth of the IFSI in the region, its strengths, as well as challenges and opportunities for the industry. 11:15 - 11:30 Questions and Answers 11:30 - 12:15 Session 2: Islamic Finance: Stability, Resilience and Regulatory Issues An Islamic finance continues to become increasingly internationalised, this necessitates the need to have in place a comprehensive regulatory, supervisory and surveillance framework to ensure the stability and resiliency of the industry. This session looks at the regulatory issues and challenges, in particular in light of the global regulatory reforms undertaken following the global financial crisis. 12:15 - 12:30 Questions and Answers 12:30 - 14:00 Lunch 14:00 - 15:00 Session 3: Islamic Banking: Financial Inclusion as a Core Concept This session discusses the role of Islamic banking in encouraging financial inclusion. It also analyses the development and progress of the Islamic banking sector in selected countries in terms of product innovations, infrastructure and institutional development, regulatory advancement, as well as government initiatives to develop the industry. The session also explores opportunities and challenges faced by the sector. Case studies will be presented on national experiences in developing the Islamic banking sector from the perspective of financial inclusion, infrastructure, regulatory and Sharī`ah frameworks. 15:00 - 15:30 Questions and Answers 15:30 - 15:45 Coffee Break 15:45 - 16:45 Session 4: Islamic Capital Market: The Role of Sukūk for Development This session discusses the development and progress of the Islamic capital market in selected countries in terms of infrastructure and institutions, regulatory advancement, as well as government initiatives. The session also explores opportunities, challenges and issues faced by the industry. Case studies will be presented on national experience in developing the Islamic capital market from the perspective of benefits, policy and legal frameworks, as well as the roles of supporting agencies such as rating agencies. 16:45 - 17:15 Questions and Answers Day 2 05/11/2013 DAY 2 CONFERENCE ON ISLAMIC FINANCE FOR ASIA: DEVELOPMENT, PROSPECTS AND INCLUSIVE GROWTH (HALF DAY - AM) ROUNDTABLE FOR REGULATORS (HALF DAY - PM) 09:30 - 10:30 Session 5: Implementation of IFSB Standards This session will provide an overview of the IFSB's Prudential Standards and their importance to a sound and stable Islamic financial system. Case studies from central banks and the private sector on experiences in implemented the IFSB Prudential Standards will be discussed and analysed. ADB's partnership with the IFSB in developing and implementing these standards will also be discussed. 10:30 - 11:00 Questions and Answers 11:00 - 11:30 Coffee Break 11:30 - 13:00 Session 6: Panel Discussion on The Way Forward - A Roadmap for Asia In this panel discussion, the panelists aim to identify the opportunities, key success factors, as well as challenges for Islamic finance in the Asian countries to venture beyond the region, specifically to the Middle East, North Africa and Europe. This session will conclude with an Islamic finance roadmap for Asia. 13:00 - 14:00 Lunch 14:10 - 15:00 ROUNDTABLE SESSION 1: Legal and Regulatory Issues for Islamic Finance Post-crisis Current framework for Islamic finance in Legal and Regulatory perspective How to meet the needs of rapidly growing IFSI in regulatory basis Impacts of global financial crisis on IFSI Protection mechanisms for IFSI in order not to experience such crisis 15:00 - 15:50 ROUNDTABLE SESSION 2: Taking the Initiative for Islamic Finance: Role of the Governments and Private Sector Importance of Government's role in progress of Islamic finance Private sector oriented growth in Islamic Finance Pros and Cons for Government dominated and private sector dominated Islamic financial sector 15:50 - 16:00 ROUNDTABLE: Closing Remarks Downloadable Document(s) 1.) Event Session(s) - PDF Format 2.) Discovery Suites - Hotel Reservation Form 3.) Oakwood Premier - Hotel Reservation Form 4.) Registration Form

This third edition of the Executive Forum series intends to provide comprehensive deliberation and exchange of views between and among practitioners, regulators, and academics on the existing strategies and approaches in building a competitive and resilient Islamic Insurance (Takaful) industry. Among confirmed speakers who will facilitate the Executive Forum are: Ahmad Hammami Muhyidin, Director Islamic Financial Services – Takaful, Ernst & Young Anita Menon, Chief Risk Office,  Prudential BSN Takaful Berhad, Malaysia Delil Khairat, Head of Underwriting at ACR Retakaful, Malaysia Ezamshah Ismail, Takaful and Wealth Planning Department, INCEIF, Malaysia Prof. Dato’ Dr. Kamaruddin Sharif, Head of Takaful and Wealth Planning Department, INCEIF, Malaysia Lotfi S. Zairi, Acting Director, Risk Management Department, Islamic Corporation for Insurance of Investments and Export Credits (ICIEC), IDB Group, Saudi Arabia Wan Saifulrizal Wan Ismail, Associate Director, Tower Watson Assoc. Prof. Dr. Younes Soualhi, Chairman of the Shariah Board of Munich Re Takaful, Malaysia For more information on the Workshops, please email Mrs. Azizakhon Yarlaeva at [email protected]   Programme - Event Session(s) Date Time Topics Day 1 13/11/2013 08:30 - 09:30 Morning Coffee and Registration 09:30 - 09:45 Opening and Welcoming Remarks 09:45 - 11:00 Insights to Effective Strategic Management to Face Business Challenges in Takāful Industry Synthesizing organisational plans and objectives into a coherent vision Shifting paradigm of Takāful Operator’s management in facing rapidly changing marketplace Building leadership within management team: Challenges to build and maintain organisational momentum Building the future of the Takāful industry: Fostering cooperation and organisational linkages amongst all the stakeholders 11:00 - 11:30 Coffee Break 11:30 - 13:00 Going Beyond Sharī`ah Compliance: A holistic approach to Designing New Takāful Model and Product Development The Sharī`ah and the “Maqasid Al Sharī`ah” as paradigms in shaping Islamic financial services industry Constructive reaction to the debate on “convergence’’ or “divergence” between Islamic and conventional finance The evolution of Takāful model: the rationale and actual impact on Takāful performance Developing new Takāful model and challenges in product innovation and transformation 13:00 - 14:00 Lunch and Prayers 14:00 - 15:30 Emerging Issues in Corporate and Sharī`ah Governance of Takāful Operators Underlying corporate governance issues in Takāful: Identifying principal-agent issues in current Takāful practices Sharī`ah Requirements on segregation of funds and fiduciary duties: implication to market practices Necessary requirements in implementing Sharī`ah Governance mechanism in Takāful operators Formulating strategic action to minimise Sharī`ah non-compliance risks in Takāful operators 15:30 - 16:00 Coffee Break 16:00 - 17:30 Overcoming Underwriting and Pricing issues in Takāful Industry Incorporating specificities of Islamic finance in underwriting process in Takāful operation Gap-analysis in assessing pricing and underwriting risks Issues and challenges in developing assumptions to mitigate underwriting risks Linking underwriting risk with strategic planning Day 2 14/11/2013 08:30 - 09:30 Morning Coffee 09:30 - 11:00 Enterprise- Risk Management Framework for Takāful Operators Pre-requisite for effective risks management in Takāful business Developing Enterprise Risk Management framework for Takāful Operator Linking Takāful Operational Framework (TOR) with Enterprise Risk Management Effectiveness Board of Directors and Senior Management in managing risks in Takāful business 11:00 - 11:30 Coffee Break 11:30 - 13:00 Managing Takāful Distribution and Marketing Enhancing distribution and marketing through enhanced Takāful product offerings Developing an effective mixture of delivery channel for Takāful products Strengthening ethical standards in distribution initiatives for Takāful products Issues and challenges in increasing Takāful penetration rate through the utilization of high-technology 13:10 - 14:00 Lunch and Prayers 14:00 - 15:30 Solvency Requirements for Takāful Operators & Quantitative Solvency Requirements Solvency requirements and its implications of Takāful Operators Analysis on International solvency requirements for Takāful Operators Issues and challenges in the application of Solvency and Quantitative Solvency Requirements by Takāful Operators Revolving issues in solvency requirements: the way forward 15:30 - 16:00 Coffee Break 16:00 - 17:30 Issues, Challenges and Opportunities for Re-Takāful Changing landscape of global financial architecture and impact on Takāful and Re-Takāful business Emerging challenges in Re-Takāful business Building synergies between Re-Takāful and Takāful Prudential issues in Re-Takāful: A supervisory perspectives   Downloadable Document(s) Event Session(s) - PDF Format Brochure