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Seminar on the Role of Islamic Finance in the Development of Africa

Hibiscus Ballroom, The Intercontinental Mauritius Resort , Mauritius

This IFSB Seminar is hosted by the Bank of Mauritius. Should you be interested to participate, please email your details to [email protected] Programme - Event Session(s) Date Time Topics Day 1 05/09/2012 PRE-SEMINAR WORKSHOP ON INTRODUCTION TO ISLAMIC FINANCE AND THE IFSB STANDARDS 08:45 - 09:30 Registration 09:30 - 09:45 Opening Remarks 09:45 - 11:00 Session 1: Concept and Structure of Islamic Finance Contracts and Products Question and Answer 11:00 - 11:30 Coffee Break 11:30 - 12:45 Session 2: Risk Management for Institutions offering Islamic Financial Services Question and Answer 12:45 - 14:00 Lunch and Prayer 14:00 - 15:15 Session 3: Overview of the IFSB Standards and Guiding Principles for Governance (Corporate and Sharī`ah) Question and Answer 15:15 - 15:45 Coffee Break 15:45 - 17:00 Session 4: Case Studies (Sukūk Structure) Question and Answer 19:00 - 21:00 Welcome Dinner - Hosted by Bank of Mauritius Venue : The Island, The Intercontinental Mauritius Resort Day 2 06/09/2012 SEMINAR ON THE ROLE OF ISLAMIC FINANCE IN THE DEVELOPMENT OF AFRICA (DAY-1) 08:45 - 09:30 Registration 09:30 - 10:30 Opening and Keynote Session 10:30 - 11:00 Coffee Break 11:00 - 12:00 Session 1: Overview on the Development of Islamic Financial Services Industry: Banking, Capital Markets and Takāful International developments of the Islamic financial services industry in the various sectors Globalisation of Islamic Finance: What would be the target market in the next decade? Islamic Finance and the African Continent 12:00 - 13:15 Session 2: Developing the Necessary Infrastructure for Islamic Financial Services in New Markets: Lessons to be learned Regulatory and prudential framework Legal and tax regime Human capital development 13:15 - 14:45 Lunch and Prayer 14:45 - 16:00 Session 3: Prospects for Islamic Financial Services and Products in the New and Emerging Markets Islamic banks Takāful Capital markets 16:00 - 17:15 Session 4: Structuring Sukūk for New Markets: Areas that need to be Addressed (Regulatory and Market Perspectives) Understanding the principal features of Sukūk How are the Islamic financial institutions Structuring Sukūk: Legal documentation and Sharī`ah aspects Regulatory framework for Sukūk transactions 17:15 - 17:45 Coffee Break and End of Day 1 Day 3 07/09/2012 SEMINAR ON THE ROLE OF ISLAMIC FINANCE IN THE DEVELOPMENT OF AFRICA (DAY-2) 09:30 - 11:00 Session 5: Islamic Microfinance in Africa: Achievements and Challenges Islamic microfinance product and features The role of Islamic microfinance in development and poverty alleviation Selected case studies on country experiences 11:00 - 11:30 Coffee Break 11:30 - 13:00 Session 6: Panel Discussion on Opening a New Gateway into Africa: Linking Mauritius with African Economic Development through Islamic Finance Managing the investment and financing of the African infrastructural sector through Islamic finance Challenges in bringing Islamic financial services to the forefront How the Mauritius financial services sector can enhance the role of Islamic finance and meet the needs of the African region 13:00 - 14:00 Lunch Downloadable Document(s) 1.) Event Session(s) - PDF Format 2.) Other Hotels in Mauritius - Information 3.) The Intercontinental Mauritius Resort - Hotel Reservation Form

Roundtable on Disclosure Requirements for Islamic Capital Market Products

Securities Commission Malaysia, Persiaran Bukit Kiara, Kuala Lumpur kuala lumpur, Malaysia

This IFSB is co-organising this Roundtable with the International Organization of Securities Commission (IOSCO). The Securities Commission of Malaysia is hosting the Roundtable. Participation is BY INVITATION only. Programme - Event Session(s) Date Time Topics Day 1 18/09/2012 08:30 - 09:00 Registration 09:00 - 09:30 Opening and Welcoming Addresses 09:30 - 10:00 Session 1: Comparative Evaluation of Regulatory and Best Practices on Disclosure of Islamic Capital Market Products (ICM) Benefits of global harmonisation of disclosure standards relating to ICM Diagnostics of the current regulatory and best practices adopted by different jurisdictions in relation to disclosure of Islamic capital market (ICM) products. General analysis of issues/potential issues affecting the development of ICM as a result of non-standardisation of disclosure requirements e.g. legal, Sharī`ah and governance issues Suggestions for approaches to dealing with all relevant issues which can support effective role of standard setting bodies, role of capital market authorities, industry associations and capital market participants. 10:00 - 10:30 Coffee Break 10:30 - 11:00 Session 2: Issues Arising from Inadequate Disclosure Requirement for Islamic Capital Market Products Potential legal and regulatory issues arising from inadequate disclosure of ICM products: Impact on investor protection and the development of the Islamic capital market industry. Analysis on the level of transparency pertaining to Sharī`ah compliance: Ex-ante and ex-post Sharī`ah compliance processes. Analysis of the gaps in the existing disclosure-related standards issued by international standard setters e.g. addressing the types of disclosures for (i) Sukūk, and (ii) Collective Investment Scheme on matters such as composition of Sharī`ah advisors, pronouncements on Sharī`ah compliance, basis of decision and the analysis of the gaps are and the role of rating agencies in promoting greater disclosure of Sukūk. Disclosure of emerging risks in relation to ICM products and the role of issuers, advisors and auditors in addressing these risks. 11:00 - 12:00 Commentaries from Discussants 12:00 - 12:30 Questions & Answers 12:30 - 14:00 Lunch 14:00 - 14:30 Session 3: The Importance of Strong Disclosure Regime in Facilitating Cross-border Activity and Development of Islamic Capital Market Products and Services Greater cross-border collaboration e.g. through multilateral arrangements for the development of Islamic capital markets. General analysis of disclosure related issues affecting crossborder investments e.g. the need for international standards on disclosure of Sharī`ah screening process, mechanisms for treatment of tainted income etc. The pros and cons of having a standardised documentation for key contracts used in Islamic capital markets e.g. Standard Wakalah Agreement etc. Benefits of common accounting standards on disclosure for cross-border offerings of ICM products. 14:30 - 15:30 Commentaries from Dicussants 15:30 - 16:00 Questions & Answers 16:00 - 16:30 Coffee Break 16:30 - 17:30 Concluding Remarks and Summary of Roundtable Downloadable Document(s) 1.) Event Session(s) - PDF Format

IFSB-FIS Workshops on Islamic Capital Markets

Umm Al Ramool Area - Securities & Commodities Authority Building Dubai, United Arab Emirates

The Workshops are hosted by the Emirates Securities & Commodities Authority 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 19/11/2012 IFSB-FIS WORKSHOP DAY ONE 09:00 - 09:30 Registration 09:30 - 09:45 Opening Opening Remarks by the IFSB 09:45 - 11:15 Introduction to Islamic Capital Market - Concept of Islamic Finance - Products of Islamic Capital Market - Issues in Islamic Capital Market 11:15 - 11:30 Coffee Break 11:30 - 13:00 Governance for Islamic Collective Investment Schemes - Definition of ICIS - General Governance Approach of ICIS - Transparency and Disclosure 13:00 - 14:00 Lunch & Prayer 14:00 - 16:00 Governance for Islamic Collective Investment Schemes (Cont’d and Case Studies) - Compliance with Shari’ah Rules and Principles - Additional Protection for ICIS Investors - Case Studies 16:00 - 16:30 Coffee Break Day 2 20/11/2012 IFSB-FIS WORKSHOP DAY TWO 09:30 - 11:00 Prudential Issues for Sukuk Instruments - Sukuk Structures - Collateral Security Structures - Risks in Securitization Structures - Operational Requirements Pertaining to Sukuk and Securitizations 11:00 - 11:30 Coffee Break 11:30 - 13:00 Prudential Issues for Sukuk Instruments (Cont’d and Case Studies) - Credit Risk Mitigation for Securitization Exposures - Credit Enhancement for Shari’ah Compliant Securitizations - Case Studies 13:00 - 14:00 Lunch & Prayer 14:00 - 16:00 Panel Discussion: Issues and Challenges in the Development of Islamic Capital Market Speakers: - Representative from IFSB - Representative from SCA 16:00 - 16:30 Coffee Break Day 3 21/11/2012 IFSB-FIS WORKSHOP DAY THREE 09:30 - 11:00 Conduct of Business - Islamic Perspective on Conduct of Business - Conduct of Business and Financial Stability - IFSB Recommendations on Conduct of Business 11:00 - 11:30 Coffee Break 11:30 - 13:00 Shari’ah Governance System - General Governance Approach to Shari’ah Governance System - Requirements on Shari’ah Governance System 13:00 - 14:00 Lunch & Prayer 14:00 - 16:00 Shari’ah Governance System - Case Studies - Experience Sharing by Central Bank of Jordan 16:00 - 16:30 Coffee Break Downloadable Document(s) 1.) Event Session(s) - PDF Format 2.) Survey Soft Copy - IPICM

Regional Islamic Finance Forum: Future Prospects

Marriot Cairo Hotel, 16 Saray El Gezira, Zamalek, Cairo, Egypt Cairo

This IFSB Seminar is co-organised with The World Bank and the Central Bank of Egypt. More information shall be uploaded in due course. Please email [email protected] should you wish to register your interest to participate. Programme - Event Session(s) Date Time Topics Day 1 20/11/2012 09:00 - 09:30 Registration 09:30 - 10:30 Opening and Keynote Session 10:30 - 11:00 Coffee break and Networking 11:00 - 12:30 Session 1 - Overview and Opportunities of the Islamic Financial Services Industry In the early phases of its development, Islamic finance was essentially domestic-centric, focusing on retail financing, trade financing and the financing of other commercial business activities. This has changed following the drive of nations to diversify the domestic financial infrastructure so as to avoid the over-dependence on the banking sector as well as to keep up with the trend towards greater liberalisation of the financial system. These factors have spurred the development of the Islamic finance and its greater integration into the international financial system. It will also give a current overview of Islamic finance, its potentials and opportunities. 12:30 - 14:00 Lunch 14:00 - 15:30 Session 2 - Overview of Regulatory, Legal and Operational Issues in Islamic Finance The session will highlight various operational issues faced by the Islamic financial services industry (IFSI) and factors that determine the scope of activities that they offer within the stipulated regulatory and legal environment. The speakers are expected to share their experience in managing these issues and suggest possible options to address them 15:30 - 17:00 Session 3 - Country Experiences in Establishing Islamic Financial Services Any country which plans to establish Islamic financial services will benefit from this session as the speakers will discuss the challenges they encountered during the initial phases of introducing Islamic financial services, and how they balanced their role as the supervisor and the developer of Islamic finance. Key issues related to changes to taxation laws, property laws and trust laws and how they have been able to expedite the development of Islamic finance industry, particularly on issuances of Sukūk, will be the key topics highlighted. 17:00 - 17:30 Coffee break and Networking Day 2 21/11/2012 09:30 - 11:00 Session 4 - Exploring Sharī`ah Concepts in Financial Inclusion to Support Growth of the Economy Sharī`ah is the key pillar from which Islamic finance derives its unique characteristics. The Sharī`ah injunctions require that Islamic financial transactions be accompanied by an underlying productive activity or asset. In the wake of the global financial crisis, developing economies now need to develop strategies that effectively align the financial sector and the productivity level in the real economy. This session will concurrently discuss the role of microfinance and the financing of real estate and small and medium enterprises in this regard. Concurrent session 1: Microfinance Concurrent session 2: Housing and Real Estate Finance Concurrent session 3: Financing for Small and Medium Enterprises 11:00 - 11:30 Coffee break and Networking 11:30 - 13:00 Session 5 - Creating an Enabling Environment for Islamic Finance: Sharing Experiences and Lessons Learnt The future of Islamic finance will require closer regional and international inter-linkages. Supervisory authorities will find this session beneficial as the panelists from the international intergovernmental organizations will share their experiences and lessons learned in creating a conducive global environment that aims to support the development of the Islamic financial services industry. Critical infrastructure issues related to capacity building and liquidity infrastructure framework will be discussed. 13:00 - 13:30 Closing Session 13:30 - 14:30 Lunch ( End of Seminar) Downloadable Document(s) 1.) Event Session(s) - PDF Format

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

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