IFSB-FIS Workshops for Regulatory and Supervisory Authorities – Liquidity Risk Management and Stress Testing Standards

Sasana Kijang, Bank Negara Malaysia Kuala Lumpur, Malaysia

The forthcoming 2012 IFSB-FIS Workshops, which are catered for the Banking Regulators and Supervisors, will focus on Risk Management issues in Institutions offering Islamic Financial Services (IIFS), with particular attention given to Liquidity Risk Management and Stress Testing arrangements for IIFS. The Workshops will cover the following IFSB Standards and Guiding Principles: • IFSB-12: Guiding Principles on Liquidity Risk Management for Institutions offering Islamic Financial Services. • IFSB-13: Guiding Principles on Stress Testing for Institutions offering Islamic Financial Services. Participation is BY INVITATION only. For more information on the Workshops, please email Mrs. Azizakhon Yarlaeva at [email protected] Programme - Event Session(s) Date Time Topics Day 1 26/11/2012 IFSB-FIS WORKSHOP DAY ONE 09:00 - 09:30 Registration 09:30 - 09:50 Opening Remarks by the IFSB 09:50 - 11:10 Session 1 Islamic Finance: Concept and Contracts and Risk Implications for IIFS Overview of Prudential Issues in IIFS 11:10 - 11:30 Coffee Break 11:30 - 13:00 Session 2 IFSB-1: Guiding Principles of Risk Management for Institutions (other than Insurance Institutions) offering only Islamic Financial Services (IIFS) - Credit Risk & Supervisory Perspective - Equity Investment Risk & Supervisory Perspective - Operational Risk & Supervisory Perspective - Market Risk & Supervisory Perspective - Liquidity Risk & Supervisory Perspective - Rate of Return Risk & Supervisory Perspective 13:00 - 14:00 Lunch & Prayer 14:00 - 15:00 Session 3 Case Studies - Case Studies on Risk Management 15:00 - 15:30 Coffee Break 15:30 - 17:00 Session 4 -Challenges in Liquidity Risk Management from Global Perspective and Implications for IIFS - Significance of liquidity risk management for financial institutions in post-crisis world -The regulatory response to global financial crisis – initiatives of global standard setters and supervisory authorities -Challenges in Liquidity Risk Managements by IIFS -The IFSB initiatives and publications on liquidity risk management of IIFS Day 2 27/11/2012 IFSB-FIS WORKSHOP DAY TWO 09:30 - 11:10 Session 1 Guiding Principles on Liquidity Risk Management of IIFS - Funding and Market Liquidity Risk - Necessary Conditions for an effective Liquidity Risk Management in IFSI - Governance Structure: Role of the Board of Directors and Senior Management - Identification of Liquidity Risk - Interactions of Liquidity Risk and Implications of Islamic Financing Contracts Case Study – 1: Liquidity Risk and Financial Distress in an Islamic investment company 11:10 - 11:30 Coffee Break 11:30 - 13:00 Session 2 Guiding Principles on Liquidity Risk Management of IIFS - Measurement of Liquidity Risk - Diversification of the Funding Base - Consolidated Management of Liquidity Risk - Maintaining High-Quality Liquidity Buffer - Preparing a Contingency Funding Plan - Managing Sharī`ah-Compliant Collateral Case Study – 2: Shari’ah Compliant Alternatives to Repo Transactions – Some practices and initiatives 13:00 - 14:00 Lunch & Prayer 14:00 - 15:30 Session 3 Guiding Principles on Liquidity Risk Management of IIFS - Managing Sharī`ah-Compliant Collateral & Collaboration between IIFS - Meeting Payment and Settlement System Obligations - Foreign Exchange Liquidity Risk - Reporting and Disclosure of Liquidity Risk Case Study – 2: Shari’ah Compliant Alternatives to Repo Transactions – Some practices and initiatives Case Study – 3: Insolvency of an IIFS – Management and Supervision of Liquidity Risk 15:30 - 16:00 Coffee Break 16:00 - 17:00 Session 4 Guiding Principles Liquidity Risk Management for Supervisory Authorities - Responsibility for Supervision of Liquidity Risk & Need for Supervisory Regulations - Supervisors’ Role as Provider of Liquidity Support - Supervision of Liquidity Risk at Consolidated Level Case Study – 4: Supervisory arrangements for Shari’ah compliant Lender of Last Resort and other Liquidity Support to IIFS Experience sharing by Central Bank of Sudan: Instruments and Mechanisms for Liquidity Management of IIFS in Sudan Day 3 28/11/2012 IFSB-FIS WORKSHOP DAY THREE 09:30 - 11:00 Session 1 Guiding Principles Liquidity Risk Management for Supervisory Authorities - Home-Host and Cross-Sector Supervision of Liquidity Risk - Contingency Planning - Supervisors’ Role in the Development of Liquidity Infrastructure Group Discussion – 2: Resolution of Issues in the Management of LCR by the IIFS Experience sharing by Central Bank of Bahrain: Regulatory Framework and Central Bank Tools for Supervision, Monitoring and Support of Liquidity for the IIFS 11:00 - 11:30 Coffee Break 11:30 - 13:00 Session 2 Understanding Stress Testing for Financial Institutions - Stress testing as a risk Management tool - Stress Testing and Global financial crisis - International Guidance on Stress Testing and Gap Analysis - Necessary Conditions For An Effective Stress Testing Regime - IFSB Comprehensive Stress Testing Framework for IIFS 13:00 - 14:00 Lunch & Prayer 14:00 - 15:00 Session 3 Issues and Challenges in Conducting Stress Testing: IMF Perspective - Key Issues in Stress Testing for financial institutions and their supervisors - Overcoming challenges in various stages of Stress Testing - Stress Testing and Financial Stability Perspective - Recent EU and USA Stress Testing Key Results & Implications 15:00 - 15:30 Coffee Break 15:30 - 17:00 Session 4 Guiding Principles on Stress Testing for IIFS - Governance Aspects of the Stress Testing Framework - Identification of Risk Factors and Coverage of Scenarios - Specific Elements of IIFS in Stress Testing - Stress Testing Methodologies FSAP and Stress Testing Day 4 29/11/2012 IFSB-FIS WORKSHOP DAY FOUR 09:30 - 11:00 Session 1 Guiding Principles on Stress Testing for IIFS (Cont’d) - Stress Testing Methodologies - Frequency of Stress Testing - Outputs of Stress Testing and Remedial Actions - Disclosure of the Stress Testing Programme 11:00 - 11:30 Coffee Break 11:30 - 13:00 Session 2 Live Simulations and exercises on: - How to conduct “Micro level (or IIFS level) Stress Testing” - Factors and scenarios to consider for Micro Stress Testing - Exercises/Case Studies on Stress Testing for Selected IIFS - Different IIFS’ portfolios related Stress Testing - Capital Requirements Stress Testing - Credit risk related Stress Testing - Liquidity (i.e. funding and/or market liquidity) Risk Related Stress Testing - Shari’ah non-compliance Stress Testing under Operational Risk - Profitability related Stress Testing 13:00 - 14:00 Lunch & Prayer 14:00 - 15:30 Session 3 Guiding Principles on Stress Testing for Supervisory Authorities - Regular and Comprehensive Assessments of IIFS' Stress Testing - Supervisory Evaluation of an IIFS's Stress Testing Methodology - Designing and

6th Islamic Financial Stability Forum : Promoting Resilience and Stability of the Islamic Financial Services Industry: Strengthening Consumer Protection and Business Conduct

Jeddah Jeddah, Saudi Arabia, Saudi Arabia

The IFSB organised its 6th Islamic Financial Stability Forum (6th IFSF) on 12 December 2012, in Saudi Arabia. The 6th IFSF was held in conjunction with the 21st Council Meeting of the IFSB, hosted by the Islamic Development Bank. Programme - Event Session(s) Date Time Topics Day 1 12/12/2012 14:30 - 14:40 Opening Remarks H.E. Rasheed M. Al Maraj, Governor, Central Bank of Bahrain and Chairman of the IFSB 14:40 - 15:40 Developing A Platform for Consumer Protection in the Islamic Financial Services Industry Consumer protection in Islamic finance: A function of ethics and conduct Role of Sharī`ah Supervisory Boards in promoting ethics and good conduct in Islamic financial institutions Challenges in developing a strong regulatory framework for consumer protection in Islamic finance Strategies to improve consumer protection in Islamic finance Speaker: Dato’ Dr. Nik Ramlah Nik Mahmood, Deputy Chief Executive, Securities Commission Malaysia Discussants: 1. Mr. Simon Gray, Director of Supervision and Head of Islamic Finance, Dubai Financial Services Authority, UAE 2. Prof. Dato’ Dr. Azmi Omar, Director General, IRTI-Islamic Development Bank Group 15:40 - 16:00 Coffee and Networking Break Downloadable Document(s) 1.) Event Session(s) - PDF Format

Roundtable on the Islamic Financial Services Industry Stability Draft Report

Sasana Kijang kuala lumpur, Malaysia

Participation in the Roundtable is BY INVITATION only. For more information on the Roundtable, please email Ms. Yazmin Aziz at [email protected] Programme - Event Session(s) Date Time Topics Day 1 21/01/2013 09:00 - 09:30 Registration 09:30 - 09:40 Opening Session 09:40 - 10:40 Session 1 : Development of the Global Islamic Financial Services Industry (IFSI) Overview of the IFSI Trends in the development of Islamic banks, Islamic capital market, Takāful and Islamic funds (2004-2011) Challenges faced by the industry Assessment on the resilience of the IFSI – financial ratios, stress testing, capital adequacy and Basel III Roles of Islamic capital market and Takāful in ensuring financial stability Further policy recommendations to encourage financial stability Discussion 10:40 - 11:00 Coffee Break 11:00 - 12:00 Session 2 : Islamic Finance and the Changing Global Financial Architecture Global initiatives to promote financial stability Evolving financial architecture for Islamic finance IFSB Standards: Progress of implementation Discussion 12:00 - 13:00 Session 3 : Progress in Promoting the Resilience and Stability of the IFSI Comprehensive set of cross-sectoral prudential standards Development of liquidity management infrastructure Strengthening financial safety nets Effective crisis management and resolution framework Macro-prudential surveillance Discussion 13:00 - 14:00 Lunch & Prayer 14:00 - 15:00 Session 4 : The Islamic Financial Stability Forum An executive summary of the discussions Suggestions on how to achieve an effective and beneficial Forum moving forward Discussion 15:00 - 16:00 Session 5 : Emerging Issues in Financial Stability Consumer protection Financial inclusion Crisis management / threat to stability Discussion 16:00 - 16:30 Coffee Break 16:30 - 17:00 Session 6 : Concluding Remarks and Summary Moving Forward Downloadable Document(s) 1.) Event Session(s) - PDF Format 2.) Map to Sasana Kijang

The IFSB Public Hearing on Exposure Drafts 14 and 15

Forum Room, Sasana Kijang Kuala Lumpur, Malaysia

The Public Hearing will cover the following documents: 1) Exposure Draft 14: Standard on Risk Management for Takāful (Islamic Insurance) Undertakings 2) Exposure Draft 15: Standard on Revised Capital Adequacy for Institutions offering Islamic Financial Services (Other than Takāful Institutions and Islamic Collective Investment Schemes) For more information on the Public Hearing, please email to Ms. Ismawaty Ismail at [email protected]. Programme - Event Session(s) Date Time Topics Day 1 22/01/2013 09:00 - 09:30 Registration 09:30 - 10:00 Presentation on Exposure Draft - 14: Standard on Risk Management for Takāful (Islamic Insurance) Undertakings 10:00 - 10:30 Question and Answer 10:30 - 11:00 Coffee Break 11:00 - 11:30 Presentation on Exposure Draft - 15: Standard on Revised Capital Adequacy for Institutions offering Islamic Financial Services (Other than Takāful Institutions and Islamic Collective Investment Schemes) 11:30 - 12:15 Question and Answer Downloadable Document(s) 1.) Event Session(s) - PDF Format

IFSB-FIS Workshops on Takaful

Corinthia Hotel Khartoum Khartoum, Sudan

The Workshops are hosted by The Insurance Supervisory Authority of Sudan. Participation is BY INVITATION only. For more information on the Workshops, please email Mrs. Azizakhon Yarlaeva at [email protected] Programme - Event Session(s) Date Time Topics Day 1 29/01/2013 08:15 - 08:45 Registration 08:45 - 09:00 Opening Remarks by the IFSB 09:00 - 10:00 Session 1: Introduction to Islamic Finance and Takāful Concept and Contracts in Islamic Finance Takāful Models Prudential Issues in Takāful 10:00 - 10:30 Coffee Break 10:30 - 12:00 Session 2: Guiding Principles on Governance for Takāful (Islamic Insurance) Undertakings Reinforcement of Relevant Good Governance Practices Independence and Integrity of Governance Organs Appropriate Code of Ethics and Conduct Protection of Rights and Interests of Takāful Participants Appropriate Disclosures to Material and Relevant Information 12:00 - 12:30 Coffee Break & Prayers 12:30 - 14:30 Session 3: Standard on Solvency Requirements for Takāful (Islamic Insurance) Undertakings Specificity of Solvency Requirements for Takāful Solvency Control Levels Criteria for Assessing the Quality and Suitability of Solvency Resources in the Takāful and Shareholders Funds Risk Management Framework 14:30 - 15:30 Lunch Day 2 30/01/2013 09:00 - 10:00 Session 4: Guidance Note on the Recognition of Ratings by External Credit Assessment Institutions (ECAIS) on Takâful and ReTakâful Undertakings Legal and Corporate Structure Underwriting Surpluses and Capital Levels Analytic Considerations Which Refer in Particular to ReTakāful 10:00 - 10:30 Coffee Break 10:30 - 12:00 Session 5: Case Studies 12:00 - 12:30 Coffee Break & Prayers 12:30 - 14:30 Session 6: Risk Management and Other Prudential Issues in Takāful 14:30 - 15:30 Lunch Day 3 31/01/2013 09:00 - 10:00 Session 7: Guiding Principles on Conduct of Business for Institutions Offering Islamic Financial Services Islamic Perspective on Conduct of Business Conduct of Business and Financial Stability IFSB Recommendations on Conduct of Business 10:00 - 10:30 Coffee Break 10:30 - 12:00 Session 8: Guiding Principles on Sharī`ah Governance Systems for Institutions Offering Islamic Financial Services Guiding Principles on Sharī`ah Governance Systems for Institutions Offering Islamic Financial Services General Governance Approach to Sharī`ah Governance Systems Requirements on Sharī`ah Governance Systems 12:00 - 12:30 Coffee Break & Prayers 12:30 - 14:00 Session 9: Guiding Principles on Sharī`ah Governance Systems for Institutions Offering Islamic Financial Services Case Studies 14:00 - 14:20 Closing Ceremony 14:20 - 15:30 Lunch Downloadable Document(s) 1.) Event Session(s) - PDF Format

IFSB-FIS Workshops on Liquidity Risk Management and Stress Testing Standards

Corinthia Hotel Khartoum Khartoum, Sudan

The Workshops are hosted by the Central Bank of Sudan Participation is BY INVITATION only. For more information on the Workshops, please email Mrs. Azizakhon Yarlaeva at [email protected] Programme - Event Session(s) Date Time Topics Day 1 29/01/2013 08:45 - 09:00 Opening Remarks by the IFSB 09:00 - 10:30 Session 1: Overview of the Risk Management for the IIFS Islamic Finance: Concept and Contracts and Risks Implication for IIFS Overview of Prudential Issues in IIFS Credit Risk Equity Investment Risk Operational Risk Market Risk Liquidity Risk Rate of Return Risk 10:30 - 11:00 Coffee Break 11:00 - 12:30 Session 2: Guiding Principles on Liquidity Risk Management for IIFS Funding and Market Liquidity Risk Necessary Conditions for an Effective Liquidity Risk Management in IFSI Governance Structure: Role of the Board of Directors and Senior Management Identification of Liquidity Risk Interactions of Liquidity Risk and Implications of Islamic Financing Contracts Case Study 12:30 - 13:00 Coffee Break & Prayers 13:00 - 14:30 Session 3: Guiding Principles on Liquidity Risk Management for IIFS Measurement of Liquidity Risk Diversification of the Funding Base Consolidated Management of Liquidity Risk Maintaining High-Quality Liquidity Buffer Preparing a Contingency Funding Plan Managing Sharī`ah-Compliant Collateral Case Study 14:30 - 15:30 Lunch Day 2 30/01/2013 09:00 - 10:30 Session 4: Guiding Principles on Liquidity Risk Management for IIFS Collaboration Between IIFS Meeting Payment and Settlement System Obligations Foreign Exchange Liquidity Risk Reporting and Disclosure of Liquidity Risk Group Discussion 10:30 - 11:00 Coffee Break 11:00 - 12:30 Session 5: Guiding Principles on Liquidity Risk Management for Supervisory Authorities Responsibility for Supervision of Liquidity Risk & Need for Supervisory Regulations Supervisors Role as Provider of Liquidity Support Supervision of Liquidity Risk at Consolidated Level Home-Host and Cross-Sector Supervision of Liquidity Risk Contingency Planning Supervisors Role in the Development of Liquidity Infrastructure Appendices: Suggested Metrics and Monitoring Tools Group Discussion 12:30 - 13:00 Coffee Break & Prayers 13:00 - 14:30 Session 6: Understanding Stress Testing for Financial Institutions Stress Testing as a Risk Management Tool Stress Testing and Global Financial Crisis International Guidance on Stress Testing and Gap Analysis IFSB Comprehensive Stress Testing Framework for IIFS Governance Aspects of the Stress Testing Framework Identification of Risk Factors and Coverage of Scenarios 14:30 - 15:30 Lunch Day 3 31/01/2013 09:00 - 10:30 Session 7: Guiding Principles on Stress Testing for IIFS (Cont d) Specific Elements of IIFS in Stress Testing Stress Testing Methodologies Frequency of Stress Testing Outputs of Stress Testing and Remedial Actions Disclosure of the Stress Testing Programme Comprehensive Case Study on Liquidity Risk Stress Testing Group Exercise 10:30 - 11:00 Coffee Break 11:00 - 12:30 Session 8: Stress Testing Solvency Simulation Exercises: How to Conduct Micro Level (or IIFS Level) Stress Testing Capital Requirements Stress Testing Credit Risk and Market Risk Related Stress Testing 12:30 - 13:00 Coffee Break & Prayers 13:00 - 14:30 Session 9: Guiding Principles on Stress Testing for Supervisory Authorities Regular and Comprehensive Assessments of IIFS Stress Testing Supervisory Evaluation of an IIFSs Stress Testing Methodology Designing and Implementing System - Wide Stress Tests and Frequencies Corrective Actions & Regular Supervisory Dialogue with IIFS and the Industry Cross-border Issues and Home - Host Coordination Stress Testing Reporting Disclosures and Format 14:30 - 14:50 Closing Ceremony 14:50 - 15:30 Lunch Downloadable Document(s) 1.) Event Session(s) - PDF Format

The IFSB Public Hearing on Exposure Drafts 14 and 15

Ballroom, Crowne Plaza Hotel Doha, Qatar

The Public Hearing will cover the followings: 1) Exposure Draft 14: Standard on Risk Management for Takāful (Islamic Insurance) Undertakings 2) Exposure Draft 15: Standard on Revised Capital Adequacy for Institutions offering Islamic Financial Services (Other than Takāful Institutions and Islamic Collective Investment Schemes) For more information on the Public Hearing, please email to Ms. Ismawaty Ismail at [email protected].  Programme - Event Session(s) Date Time Topics Day 1 17/02/2013 09:00 - 09:30 Registration 09:30 - 10:00 Presentation on Exposure Draft - 14: Standard on Risk Management for Takāful (Islamic Insurance) Undertakings 10:00 - 10:30 Question and Answer 10:30 - 11:00 Coffee Break 11:00 - 11:30 Presentation on Exposure Draft - 15: Standard on Revised Capital Adequacy for Institutions offering Islamic Financial Services (Other than Takāful Institutions and Islamic Collective Investment Schemes) 11:30 - 12:15 Question and Answer Downloadable Document(s) 1.) Event Session(s) - PDF Format

IFSB-FIS Regional Workshops on Liquidity Risk Management and Stress Testing Standards

Al Manar Hall, Crowne Plaza Doha – The Business Park P.O.Box 22080, Doha airport road. Doha, Qatar

The Workshops are hosted by Qatar Central Bank Participation is BY INVITATION only. For more information on the Workshops, please email Mrs. Azizakhon Yarlaeva at [email protected] Programme - Event Session(s) Date Time Topics Day 1 18/02/2013 07:30 - 08:00 Registration 08:00 - 08:15 Opening Remarks by the IFSB 08:15 - 09:45 Session 1: Overview of the Risk Management for the IIFS Islamic Finance: Concept and Contracts and Risks Implication for IIFS Overview of Prudential Issues in IIFS IFSB Key Risk Categories 09:45 - 10:15 Coffee Break 10:15 - 11:45 Session 2: Guiding Principles on Liquidity Risk Management for IIFS Funding and Market Liquidity Risk Necessary Conditions for an Effective Liquidity Risk Management in IFSI Governance Structure: Role of the Board of Directors and Senior Management Identification of Liquidity Risk Interactions of Liquidity Risk and Implications of Islamic Financing Contracts Case Study 11:45 - 12:15 Coffee Break & Prayers 12:15 - 13:45 Session 3: Guiding Principles on Liquidity Risk Management for IIFS Measurement of Liquidity Risk Diversification of the Funding Base Consolidated Management of Liquidity Risk Maintaining High-Quality Liquidity Buffer Preparing a Contingency Funding Plan Managing Sharī`ah-Compliant Collateral Case Study 13:45 - 14:45 Session 4: Experience Sharing Session 14:45 - 15:45 Lunch Day 2 19/02/2013 08:00 - 09:30 Session 5: Guiding Principles on Liquidity Risk Management for IIFS Collaboration between IIFS Meeting Payment and Settlement System Obligations Foreign Exchange Liquidity Risk Reporting and Disclosure of Liquidity Risk Group Discussion 09:30 - 10:00 Coffee Break 10:00 - 11:30 Session 6: Guiding Principles on Liquidity Risk Management for Supervisory Authorities Responsibility for Supervision of Liquidity Risk & Need for Supervisory Regulations Supervisors Role as Provider of Liquidity Support Supervision of Liquidity Risk at Consolidated Level Home-Host and Cross-Sector Supervision of Liquidity Risk Contingency Planning Supervisors Role in the Development of Liquidity Infrastructure Appendices: Suggested Metrics and Monitoring Tools Group Discussion Experience Sharing Session 11:30 - 12:00 Coffee Break & Prayers 12:00 - 13:30 Session 7: Understanding Stress Testing for Financial Institutions Stress Testing as a Risk Management Tool Stress Testing and Global Financial Crisis International Guidance on Stress Testing and Gap Analysis IFSB Comprehensive Stress Testing Framework for IIFS Governance Aspects of the Stress Testing Framework Identification of Risk Factors and Coverage of Scenarios 13:30 - 14:30 Session 8: Experience Sharing Session 14:30 - 15:30 Lunch Day 3 20/02/2013 08:00 - 09:30 Session 9: Guiding Principles on Stress Testing for IIFS (Cont d) Specific Elements of IIFS in Stress Testing Stress Testing Methodologies Frequency of Stress Testing Outputs of Stress Testing and Remedial Actions Disclosure of the Stress Testing Programme Comprehensive Case Study On Liquidity Risk Stress Testing Group Exercise 09:30 - 10:00 Coffee Break 10:00 - 11:30 Session 10: Stress Testing Solvency Simulation Exercises: How to Conduct Micro Level (or IIFS Level) Stress Testing Capital Requirements Stress Testing Credit Risk and Market Risk Related Stress Testing 11:30 - 12:00 Coffee Break & Prayers 12:00 - 13:30 Session 11: Guiding Principles on Stress Testing for Supervisory Authorities Regular and Comprehensive Assessments of IIFS Stress Testing Supervisory Evaluation of an IIFS Stress Testing Methodology Designing and Implementing System-Wide Stress Tests and Frequencies Corrective Actions & Regular Supervisory Dialogue with IIFS and the Industry Cross-border Issues and Home -Host Coordination Stress Testing Reporting Disclosures and Format 13:30 - 14:30 Session 12: Experience Sharing Session 14:30 - 14:50 Closing Ceremony 14:50 - 15:50 Lunch Downloadable Document(s) 1.) Event Session(s) - PDF Format

IFSB FIS-Workshop on Islamic Capital Markets

Arapcami Mahallesi Bankalar Caddesi No: 21/A Kat:1-2 34420 Karakoy,Beyoglu, Istanbul Istanbul, Turkey

This Workshop is hosted by the Capital Markets Board of Turkey (CMB) The Workshop will cover the following IFSB Standards and Guiding Principles: • IFSB-6: Guiding Principles on Governance for Islamic Collective Investment Schemes • IFSB-7: Capital Adequacy Requirements for Sukūk, Securitisations and Real Estate Investment • IFSB-9: Guiding Principles on Conduct of Business for Institutions Offering Islamic Financial Services • IFSB-10: Guiding Principles on Sharī’ah Governance System for Institutions Offering Islamic Financial Services Participation in the Workshop is BY INVITATION only. For more information on the Workshop, please email to Mrs. Azizakhon Yarlaeva at [email protected] Programme - Event Session(s) Date Time Topics Day 1 04/03/2013 09:00 - 09:30 Registration 09:30 - 09:50 Opening Session 09:50 - 11:15 Session 1: Introduction to Islamic Capital Market Concept of Islamic Finance Key Products of Islamic Capital Market Key Issues in Islamic Capital Market 11:15 - 11:30 Coffee Break 11:30 - 13:00 Session 2: IFSB - 7: Prudential Issues in Sukūk Instruments Sukūk Structures Collateral Security Structures Risks in a Securitization Structures Operational Requirements Pertaining to Sukūk and Securitizations 13:00 - 14:00 Lunch & Prayer 14:00 - 15:30 Session 3: IFSB - 7: Prudential Issues in Sukūk Instruments Cont’d Credit Risk Mitigation for Securitization Exposures Credit Enhancement for Shariah Compliant Securitization Case Study 15:30 - 16:00 Coffee Break 16:00 - 17:30 Session 4: Case Study Sukūk Structures Prudential Issues from Sukūk Structures Experience Sharing Session Day 2 05/03/2013 09:00 - 11:00 Session 5: IFSB - 6: Governance for Islamic Collective Investment Schemes Definition of ICIS, General Governance Approach of ICIS Transparency and Disclosure Compliance with Shariah Rules and Principles Additional Protection for ICIS Investors Case Study 11:00 - 11:15 Coffee Break 11:15 - 13:00 Session 6: IFSB-9: Conduct of Business Islamic Perspective on Conduct of Business Conduct of Business and Financial Stability IFSB Recommendations on Conduct of Business Case Study 13:00 - 14:00 Lunch & Prayer 14:00 - 15:30 Session 7: IFSB - 10: Shariah Governance System General Governance Approach to Shariah Governance System Requirements on Shariah Governance System Guiding Principles on Shariah Governance -Case Study & Group Exercise Centralised vs. Decentralised Sharīah Governance System 15:30 - 15:50 Coffee Break Downloadable Document(s) 1.) Event Session(s) - PDF Format

IFSB-FIS Workshops for Regulatory and Supervisory Authorities for the Islamic Capital Market and Takaful Sectors

Sasana Kijang, Kuala Lumpur, Malaysia Kuala Lumpur, Malaysia

These Workshops will address the following IFSB Standards and Guidance Principles: • IFSB-6: Guiding Principles on Governance for Islamic Collective Investment Schemes • IFSB-7: Capital Adequacy Requirements for Sukūk, Securitisation and Real Estate Investment • IFSB-8: Guiding Principles on Governance for Takāful (Islamic Insurance) Undertakings • IFSB-9: Guiding Principles on Conduct of Business for Institutions Offering Islamic Financial Services • IFSB-10: Guiding Principles on Sharī`ah Governance Systems for Institutions Offering Islamic Financial Services • IFSB-11: Standard on Solvency Requirements for Takāful (Islamic Insurance) Undertakings Participation in these Workshops are by INVITATION only. For more information on these Workshops, please email to Mrs. Azizakhon Yarlaeva at [email protected]. Programme - Event Session(s) Date Time Topics Day 1 11/03/2013 09:50 - 16:00 Islamic Capital Markets: Sessions 1 - 3 SESSION 1: Introduction to Islamic Capital Market (Concept of Islamic Finance, Products of Islamic Capital Market, Issues in Islamic Capital Market) SESSION 2: IFSB – 7: Prudential Issues in Sukūk Instruments (Sukūk Structures, Collateral Security Structures, Risks in a Securitization Structures, Operational Requirements Pertaining to Sukūk and Securitizations) SESSION 3: IFSB – 7: Prudential Issues in Sukūk Instruments Credit Risk Mitigation for Securitization Exposures Credit Enhancement for Sharī’ah Compliant Securitization Case Studies 09:50 - 16:00 Takâful: Sessions 1 - 3 SESSION 1: Introduction to Islamic Finance and Takāful Concept and Contracts in Islamic Finance Takāful Models Prudential Issues in Takāful SESSION 2: Guiding Principles on Governance for Takāful (Islamic Insurance) Undertakings Reinforcement of Relevant Good Governance Practices Independence and Integrity of Governance Organs Appropriate Code of Ethics and Conduct Protection of Rights and Interests of Takāful Participants Appropriate Disclosures to Material and Relevant Information SESSION 3: Standard on Solvency Requirements for Takāful (Islamic Insurance) Undertakings Specificities of Solvency Requirements for Takāful Solvency Control Levels Criteria for Assessing the Quality and Suitability of Solvency Resources in the Takāful and Shareholders’ Funds Risk Management Framework Day 2 12/03/2013  DAY2 09:30 - 16:00 Islamic Capital Markets: Sessions 4 - 6 SESSION 4: IFSB – 6: Governance for Islamic Collective Investment Schemes Definition of ICIS General Governance Approach of ICIS Transparency and Disclosure SESSION 5: IFSB – 6: Governance for Islamic Collective Investment Schemes Cont’d Compliance with Sharī’ah Rules and Principles Additional Protection for ICIS Investors Case Studies SESSION 6: Countries Experiences Sharing session 09:30 - 11:00 Takâful: Sessions 4 - 6 SESSION 4: Case Studies IFSB - 8: Guiding Principles on Governance for Takâful (Islamic Insurance) Undertakings IFSB - 11: Standard on Solvency Requirements for Takâful (Islamic Insurance) Undertakings SESSION 5: Guidance Note on the Recognition of Ratings by external Credit Assessment Institutions (ECAIS) on Takâful and ReTakâful Undertakings Legal and Corporate Structure Underwriting Surpluses and Capital Levels Analytic Considerations which Refer in Particular to ReTakāful SESSION 6: Risk Management and Other Prudential Issues in Takāfu Country Experience Sharing Session Day 3 13/03/2013 09:30 - 16:00 Islamic Capital Markets & Takâful: Sessions 7 - 9 SESSION 7: IFSB - 9: Conduct of Business Islamic Perspective on Conduct of Business Conduct of Business and Financial Stability IFSB Recommendations on Conduct of Business Case Studies SESSION 8: IFSB - 10: Sharī’ah Governance System General Governance Approach to Sharī’ah Governance System Requirements on Sharī’ah Governance System SESSION 9:IFSB - 10: Sharī’ah Governance System Case Studies Downloadable Document(s) 1.) Event Session(s) - PDF Format 2.) Agenda - Takaful

IFSB-FIS Regional Workshops on Liquidity Risk Management and Stress Testing Standards

Grand Dorsett Labuan labuan, Malaysia

The Workshops are hosted by Labuan Financial Services Authority (LFSA) Participation is BY INVITATION only. For more information on the Workshops, please email Mrs. Azizakhon Yarlaeva at [email protected] Programme - Event Session(s) Date Time Topics Day 1 25/03/2013 09:00 - 09:30 Registration 09:30 - 09:50 Opening Session: Opening Remarks by the IFSB 09:50 - 11:15 Session 1: Overview of the IFSB Guiding Principle on Risk Management for the IIFS Islamic Finance: Concept and Contracts and Risks Implication for IIFS Overview of Prudential Issues in IIFS IFSB key Risk Categorie 11:15 - 11:30 Coffee Break 11:30 - 13:00 Session 2: Guiding Principles on Liquidity Risk Management for IIFS Funding and Market Liquidity Risk Necessary Conditions for an Effective Liquidity Risk Management in IFSI Governance Structure: Role of the Board of Directors and Senior Management Identification of Liquidity Risk Case Study / Group Discussion 13:00 - 14:00 Lunch and Prayers 14:00 - 15:30 Session 3: Guiding Principles on Liquidity Risk Management for IIFS Interactions of Liquidity Risk and Implications of Islamic Financing Contracts Measurement of Liquidity Risk Diversification of the Funding Base Consolidated Management of Liquidity Risk Case Study / Group Discussion 15:30 - 15:45 Coffee Break 15:45 - 16:30 Session 4: Guiding Principles on Liquidity Risk Management for IIFS Maintaining High - Quality Liquidity Buffer Preparing a Contingency Funding Plan Managing Sharī`ah - Compliant Collateral Case Study / Group Discussion Day 2 26/03/2013 09:30 - 11:15 Session 5: Guiding Principles on Liquidity Risk Management for IIFS Collaboration Between IIFS Meeting Payment and Settlement System Obligations Foreign Exchange Liquidity Risk Reporting and Disclosure of Liquidity Risk Case Study/ Group Discussion 11:15 - 11:30 Coffee Break 11:30 - 13:00 Session 6: Guiding Principles Liquidity Risk Management for Supervisory Authorities Responsibility for Supervision of Liquidity Risk & Need for Supervisory Regulations Supervisors Role as Provider of Liquidity Support Supervision of Liquidity Risk at Consolidated Level Home - Host and Cross - Sector Supervision of Liquidity Risk Supervisors Role in Contingency Planning & Development of Infrastructure Case Study / Group Discussion 13:00 - 14:00 Lunch and Prayers 14:00 - 15:00 Session 7: Launching of the IFSB Survey Findings on Sharī`ah - Compliant Lender of Last Resort (SLOLR) 15:00 - 15:15 Coffee Break 15:15 - 16:30 Session 8: Understanding Stress Testing for Financial Institutions Stress testing as a risk Management tool Stress Testing and Global financial crisis International Guidance on Stress Testing and Gap Analysis IFSB Comprehensive Stress Testing Framework for IIFS Governance Aspects of the Stress Testing Framework Identification of Risk Factors and Coverage of Scenarios Day 3 27/03/2013 09:30 - 11:15 Session 9: Guiding Principles on Stress Testing for IIFS (Cont’d) Specific Elements of IIFS in Stress Testing Stress Testing Methodologies Frequency of Stress Testing Outputs of Stress Testing and Remedial Actions Disclosure of the Stress Testing Programme Case Study on Liquidity Risk Stress Testing Group Exercise 11:15 - 11:30 Coffee Break 11:30 - 13:00 Session 10: Stress Testing Solvency Simulation Exercises: How to conduct Micro level (or IIFS level) Stress Testing Capital Requirements Stress Testing Credit risk and market risk related Stress Testing Sharī`ah Non- Compliance Stress Testing 13:00 - 14:00 Lunch and Prayers 14:00 - 15:30 Session 11: Stress Testing Solvency Simulation Exercises (Cont d): How to conduct Micro level (or IIFS level) Stress Testing Capital Requirements Stress Testing Credit risk and market risk related Stress Testing Sharī`ah Non- Compliance Stress Testing 15:30 - 16:45 Coffee Break 15:45 - 16:00 Session 12: Guiding Principles on Stress Testing for Supervisory Authorities Regular and Comprehensive Assessments of IIFS Stress Testing Supervisory Evaluation of an IIFSs Stress Testing Methodology Designing and Implementing System-Wide Stress Tests and Frequencies Corrective Actions & Regular Supervisory Dialogue with IIFS and the Industry Cross-border Issues and Home-Host Coordination Stress Testing Reporting Disclosures and Format 16:30 - 17:00 Closing Ceremony Downloadable Document(s) 1.) Event Session(s) - PDF Format

IFSB Annual Meetings 2013: 22nd Meeting of the Council, 11th General Assembly of the Islamic Financial Services Board & Other Events

- Bali, Indonesia

The Annual Meetings 2013 are hosted by Qatar Central Bank. Invitation letters have been sent to all members. Please submit your registration forms to Ms. Ismawaty at [email protected] / [email protected]. Programme - Event Session(s) Date Time Topics Day 1 06/04/2013 EVENT 1 : IFSB-IRTI ROUNDTABLE ON THE MID-TERM REVIEW OF THE ISLAMIC FINANCIAL SERVICES INDUSTRY DEVELOPMENT: TEN-YEAR FRAMEWORK AND STRATEGIES EVENT 2 : IFSB MEET-THE-MEMBERS SESSION 08:30 - 09:00 EVENT 1 : IFSB-IRTI ROUNDTABLE ON THE MID-TERM REVIEW OF THE ISLAMIC FINANCIAL SERVICES INDUSTRY DEVELOPMENT: TEN-YEAR FRAMEWORK AND STRATEGIES Registration 09:00 - 09:15 Opening and Welcoming Address 09:15 - 09:45 Session 1: The Ten-Year Framework and Strategies and Their Relevance in Light of The Current Financial Climate Overview of the Ten-Year Framework and Strategies: Status and assumptions Progress of the implementation of the Ten-Year Framework and Strategies Development in the global financial system post-crisis and the impact on the Ten-Year Framework and Strategies The relevance of the Ten-Year Framework and Strategies post-crisis: New challenges and priorities for the IFSI 09:45 - 09:45 Discussion 10:15 - 10:30 Coffee Break 10:30 - 11:00 Session 2: National Level Strategic Plans for The Promotion and Development of Islamic Finance Post-Crisis in the Following Regions: (a) Developed jurisdictions in Asia and the Middle East (b) Developing jurisdictions in Europe (c) New entrance in A Country Experience Specific and Common Issues Faced by the Regions Challenges in Terms of Islamic Financial Architecture and Infrastructure and Institutions 11:00 - 11:30 Discussion 11:30 - 12:15 Session 3: Islamic Financial Architecture and Infrastructure Development: Review of The Broad Strategies and Initiatives Identified in The 10-Year Framework Islamic financial architecture and infrastructure development for Islamic banks, non-banking financial institutions, Islamic capital markets and Takaful: Progress of strategies and initiatives, and issues and challenges Outlook and new challenges facing the IFSI in terms of financial architecture and infrastructure requirements Policies and enabling environment for the IFSI Proposed priorities and recommendations for financial architecture and infrastructure development in light of the changing landscape in the global financial system 12:15 - 12:45 Discussion 12:45 - 14:15 EVENT 2: Meet the Members Lunch (For IFSB Members Only) Arrival of Guests Opening Session-Welcoming remarks Interactive Session-Presentation & Q&A Session Luncheon 14:15 - 15:00 Session 4: Institutional Development: Review of The Current Broad Strategies and Initiatives Identified in The 10-Year Framework Institutional development for Islamic banks, non-banking financial institutions, Islamic capital markets and Takaful: Progress of strategies and initiatives, and issues and challenges Outlook and new challenges facing the IFSI in terms of institutional development Proposed priorities and recommendations for institutional development in light of the changing landscape in the global financial system 15:00 - 15:30 Discussion 15:30 - 16:15 Session 5: Implementation of the Ten-Year Framework and Strategies: The Way Forward Formulating and implementing new strategies and initiatives to achieve the objective of the Ten-Year Framework and Strategies Proposed revision of the Ten-Year Framework and Strategies Resolutions and recommendations for the Ten-Year Framework and Strategies 16:15 - 17:00 Discussion, resolutions and recommendations 17:00 - 17:15 Coffee Break End of Roundtable 20:00 - 22:00 Welcome Dinner Day 2 07/04/2013 22ND COUNCIL MEETING, GENERAL ASSEMBLY AND SIDE EVENT 09:30 - 12:40 22nd meeting of the Council of the IFSB (For Council Members Only) 12:45 - 13:15 11th General Assembly (For IFSB Members Only) 14:30 - 16:00 7th Islamic Financial Stability Forum (For IFSB Council Members, Regulatory Authorities and International Organisation) END OF EVENT Downloadable Document(s) 1.) Event Session(s) - PDF Format