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

In line with the IFSB due process for the development of Standards and Guiding Principles, a Public Hearing will be held for  Exposure Draft 16: Revised Guidance on Key Elements in the Supervisory Review Process of Institutions Offering Islamic Financial Services (Excluding Islamic Insurance (Takāful) institutions and Islamic Collective Investment Schemes). For more information on the Public Hearing, please email to Ms. Nur Khairun Nissa at [email protected]. Programme - Event Session(s) Date Time Topics Day 1 26/11/2013 09:00 - 09:30 Registration 09:30 - 11:00 Presentation on Exposure Draft – 16: Revised Guidance on Key Elements in the Supervisory Review Process of Institutions Offering Islamic Financial Services (IIFS) 11:00 - 11:30 Question and Answer 11:30 - 12:00 Coffee Break

In line with the IFSB due process for the development of Standards and Guiding Principles, a Public Hearing will be held for  Exposure Draft 16: Revised Guidance on Key Elements in the Supervisory Review Process of Institutions Offering Islamic Financial Services (Excluding Islamic Insurance (Takāful) institutions and Islamic Collective Investment Schemes). For more information on the Public Hearing, please email to Ms. Nur Khairun Nissa at [email protected]. Programme - Event Session(s) Date Time Topics Day 1 09/12/2013 09:00 - 09:30 Registration 09:30 - 11:00 Presentation on Exposure Draft – 16: Revised Guidance on Key Elements in the Supervisory Review Process of Institutions Offering Islamic Financial Services (IIFS) 11:00 - 11:30 Question and Answer 11:30 - 12:00 Coffee Break Downloadable Document(s) 1.) Event Session(s) - PDF Format

The IFSB organised its 8th Islamic Financial Stability Forum (8th IFSF) on 10 December 2013, in Qatar. The 8th IFSF was held in conjunction with the 23rd Council Meeting of the IFSB, hosted by Qatar Central Bank. Programme - Event Session(s) Date Time Topics Day 1 10/12/2013 17:00 - 17:10 Chairman’s Remarks H.E. Sheikh Abdulla Bin Saoud Al-Thani, Governor, Qatar Central Bank 17:10 - 18:10 Progress of Financial Reforms Post Crisis Performance of the financial services industry post crisis Financial regulatory and supervisory reform: Development, implementation and progress to date Strengthening the stability and resilience of the financial services industry moving forward: Strategies and challenges in implementation Speaker: Karl F. Cordewener, Deputy Secretary-General, Basel Committee for Banking Supervision, Bank for International Settlements Discussants: 1. Dr. Mulya E. Siregar, Assistant Governor, Bank Indonesia 2. Professor Simon Archer, Visiting Professor ICMA Centre, Henley Business School, University of Reading, UK 18:10 - 18:30 Coffee and Networking Break End of Forum Downloadable Document(s) 1.) Event Session(s) - PDF Format

Event Snapshots Programme - Event Session(s) Date Time Topics Day 1 18/02/2014 12:00 - 12:10 Registration and Arrival of Guests 12:10 - 12:20 Welcoming Remarks 12:20 - 13:10 Interactive Session Presentation on IFSB Standard Implementation Survey and FIS Initiatives in Views of the Strategic Performance Plan 13:10 - 14:00 Lunch Downloadable Document(s) 1.) Event Session(s) - PDF Format

The 6th Seminar on the Regulation of Takaful, hosted by the Insurance Supervisory Authority of Sudan, was held on 19 February 2014 in Khartoum. The Seminar is part of the IFSB Seminar on Takaful series. The Seminar aimed to deepen understanding on pertinent issues relating to the regulation of Takaful, taking into consideration on the changing dynamics of the industry. Mr. Jaseem Ahmed, Secretary General of the IFSB and Mr. Nasr Eldeen Mohammad Omar, Chairman of Board of Directors, Insurance Supervisory Authority delivered the opening and welcoming speech respectively. 12 chairpersons and speakers who were senior financial sector supervisors, market players, and experts from international financial institutions were invited to discuss the following issues at the Seminar. The topics that were discussed in the Seminar were as follows: - Global Takaful Industry’s Development: Growth and Challenges - Solvency’s Quantitative Guide: Will a standardised approach ensure a stable and safe environment for the industry, or should the industry be given the flexibility to diversify its solvency requirements? - Retakaful Industry: Legal and Regulatory Developments and Ongoing Challenges -The Way Forward for Emerging Markets in establishing an effective regulatory framework, the right mix of product offerings whilst ascertaining the compliance to Shariah principles The Seminar saw the attendance of 64 participants from government, regulatory and supervisory bodies and industry players. Event Snapshots Programme - Event Session(s) Date Time Topics Day 1 19/02/2014 6TH SEMINAR ON REGULATION OF TAKAFUL - CURRENT REGULATORY ISSUES FACING THE ISLAMIC FINANCIAL INDUSTRY 09:00 - 09:30 Registration 09:30 - 10:00 Opening and Keynote Session 10:00 - 11:15 Session 1: Global Takaful Industry's Development: Growth and Challenges Industry Updates: Achievements and challenges facing the industry in past years Restructuring Exercise: A prediction of growth or contraction of the industry Rising Regulatory challenges due to complexity of cross border transactions 11:15 - 11:45 Networking Session and Coffee Break 11:45 - 13:00 Solvency’s Quantitative Guide: Will a standardized approach ensure a stable and safe environment for the industry, or should the industry be given the flexibility to diversify its solvency requirements? Reality check: Implementation of IFSB-11 and Solvency II IAIS’ capital resources guidance and direction of the future Capital resources of the existing Takaful Operators (TOs) Adoption of quantitative guide by existing TOs 13:00 - 14:30 Lunch and Prayers 14:30 - 15:45 Retakaful Industry: Legal and Regulatory Developments and Ongoing Challenges Legal and regulatory challenges facing the Retakaful business Product structures and models for Retakaful: Moving toward convergence? Shariah governance of Retakaful Operators Dealing with limitations in the investment activities for Retakaful Operators Areas of improvement for Retakaful services 15:45 - 16:00 Networking Session and Coffee Break 16:00 - 17:15 Panel Discussion: The Way Forward for Emerging Markets in establishing an effective regulatory framework, the right mix of product offerings whilst ascertaining the compliance to Shariah principles The development of regulatory framework for emerging markets The expansion of micro-takaful initiatives to ensure financial inclusion The direction of the emerging market: Maintaining the existing Takaful models or venturing into new models Downloadable Document(s) 1.) Event Session(s) - PDF Format