Islamic Financial Services Board

1st Working Group Meeting on Core Principles for Islamic Finance Regulation (Takāful Segment)
2019-04-10 | Kuala Lumpur, Kuala Lumpur, Malaysia, Malaysia

1st Meeting of the Task Force on Technical Note on Recovery and Resolution Plan of Institutions Offering Islamic Financial Services
2019-04-11 09:30 - 17:00 UTC | Kuala Lumpur, Kuala Lumpur, Malaysia, Malaysia
The first meeting of the task group for recovery and resolution plans for Islamic financial services institutions will be held as follows:
Date: April 11, 2019
Time: 9:30 AM – 5:00 PM
Location: Kuala Lumpur, Malaysia

IFSB Annual Meetings 2019: 34th Meeting of the IFSB Council, 17th General Assembly & Side Events
2019-04-28 - 2019-05-01 | Sasana Kijang and Lanai Kijang, 2, Jalan Dato Onn, Kuala Lumpur, Malaysia
The IFSB Annual Meetings 2019 is co-hosted by Bangladesh Bank and Bank Negara Malaysia.

The Annual Meetings include the Council Meeting, General Assembly and Side Events, as follows:

28 April 2019

19th Islamic Financial Stability Forum and Welcome Dinner (Open to all IFSB Members ONLY)

29 April 2019

34th Meeting of the IFSB Council (Closed session)
17th General Assembly of the IFSB (Open to all IFSB Members ONLY)

30 April 2019

11th Public Lecture on Financial Policy and Stability (Open to Public)
IFSB Members and Industry Engagement Session (Open to all IFSB Members and selected invitees)

1 May 2019

Capacity Building Programme on Islamic Finance for Market Players (Open to all IFSB members)

Participation in the 34th Meeting of the IFSB Council and 17th General Assembly of the IFSB is by invitation only. For enquiries, please email khairun.nissa@ifsb.org

All the other events are OPEN to ALL INTERESTED PARTIES. Please email your enquiries to:

19th Islamic Financial Stability Forum, Welcome Dinner, 11th Public Lecture on Financial Policy and Stability – ida.shafinaz@ifsb.org

IFSB Members and Industry Engagement Session – ahmed.barakat@ifsb.org

Capacity Building Programme on Islamic Finance for Market Players – esam@ifsb.org

The IFSB, Bangladesh Bank and Bank Negara Malaysia look forward to welcoming the members of the IFSB, and Islamic finance industry stakeholders to Kuala Lumpur.

The Sharīʻah Board Meeting
2019-05-01 09:30 - 2019-05-04 17:30 | Madinah, Madinah, Madinah, Saudi Arabia
The Sharīʻah Board Meeting is scheduled to be held as follows:

Date : 1 – 4 May 2019

Time : 9.30 am to 5.30 pm

Venue : Madinah, Kingdom of Saudi Arabia

Participation in the meeting is by invitation only. For more information please email to: madaa.munjid@ifsb.org

Public Hearing on the IFSB Exposure Draft
2019-06-18 | Sentral Ballroom, Level 6 Hilton Hotel Kuala Lumpur, 3, Jalan Stesen Sentral, Kuala Lumpur, Malaysia
The IFSB and Malaysia Deposit Insurance Corporation (MDIC) will be co-hosting the Public Hearing on 18 June 2019. The documents which will be discussed during the Public Hearing are as follow:

Exposure Draft: Core Principles for Effective Islamic Deposit Insurance Systems (ED CPIDIS)

Exposure Draft: Guidance Note 7 on Shariah-Compliant Lender-of-Last–Resort-Facilities

Programme – Event Session(s)

Day 1
18/06/2019
09:00 – 09:30
Registration

09:30 – 11:00
Public Hearing on Exposure Draft: Core Principles for Effective Islamic Deposit Insurance Systems (ED CPIDIS)

11:00 – 11:30
Coffee Break

11:30 – 13:00
Public Hearing on IFSB Exposure Draft: Guidance Note 7 on Sharī`ah-Compliant Lender-of-Last-Resort Facilities

13:00 – 14:00
Lunch

IFSB Public Hearing Events 2019 via Webinar
2019-06-26 16:00 - 17:30 | Online
The IFSB Public Hearing Events 2019 via Webinar is scheduled to be held on 26 June 2019.

Please find the event details as per below:

Date : 26 June 2019

Time : 4.00 pm – 5.30 pm ( Kuala Lumpur time)

Method of Public Hearing: Webinar

Webinar Details :

Webinar ID : 554 704 635

Please click the link below to join the webinar:
https://zoom.us/j/554704635

Or iPhone one-tap :
Malaysia: +60392121727,,554704635# or +60330992229,,554704635#

Or Telephone:

Dial(for higher quality, dial a number based on your current location):
Malaysia: +60 3 9212 1727 or +60 3 3099 2229
United Kingdom: +44 203 051 2874 or +44 203 695 0088 or +44 203 966 3809

International numbers available: https://zoom.us/u/ac8GFEde8K

1st Meeting of the Working Group on the Revised Shariah Governance Framework Standard
2019-06-30 09:30 - 17:00 | Kempinski Hotel, 335 Street 6, Muscat, Oman
The 1st Meeting of the Working Group on the Revised Shari’ah Governance Framework Standard is scheduled to be held as follow:

Date : 30 June 2019

Time : 9:30am – 5:00pm

Venue : Kempinski Hotel, 335 Street 6, Muscat 138, Oman

2nd Meeting of the Working Group on the Core Principles for Islamic Finance Regulation (Takaful Segment)
2019-07-02 09:30 - 17:00 | Kempinski Hotel, 335 Street 6, Muscat, Oman
The 2nd Meeting of the Working Group on the Core Principles for Islamic Finance Regulation (Takaful Segment) is scheduled to be held as follow:
Date : 2 July 2019

Time : 9:30am – 5:00pm

Venue : Kempinski Hotel, 335 Street 6, Muscat 138, Oman

4th Meeting of the Working Group on the Revised Capital Adequacy Standard for the Islamic Banking Sector
2019-07-03 09:30 - 17:00 | Kempinski Hotel, 335 Street 6, Muscat, Oman
The 4th Meeting of the Working Group on the Revised Capital Adequacy Standard for the Islamic Banking Sector is scheduled to be held as follow:
Date : 3 July 2019

Time : 9:30am – 5:00pm

Venue : Kempinski Hotel, 335 Street 6, Muscat 138, Oman

4th Meeting of the Working Group on Disclosure to Promote Transparency and Market Discipline for Takaful / Retakaful Undertaking
2019-07-04 | Kempinski Hotel, 335 Street 6, Muscat, Oman
The 4th Meeting of the Working Group on Disclosure to Promote Transparency and Market Discipline for Takāful / Retakāful Undertaking is scheduled to be held as follow:
Date : 4 July 2019

Time : 9:30am – 5:00pm

Venue : Kempinski Hotel, 335 Street 6, Muscat 138, Oman

IFSB Executive Programme - Effective Risk Management II - Implementing Effective Stress Testing and Financial Safety Nets in Islamic Banks: Governance and Regulatory Compliance
2019-07-17 - 2019-07-18 | Training Room 3.3. and 3.4, Level 3, Sasana Kijang, 2, Jalan Dato Onn, Kuala Lumpur, Malaysia
This second module of the IFSB’s Effective Risk Management Series is targeted at the Board of Directors and senior management of institutions offering Islamic financial services (IIFS) and intends to provide a platform for industry leaders, top management and regulators to engage in high-level discussions and share industry experiences. It aims to facilitate a better understanding of the issues confronting the Islamic financial services industry (IFSI), and thus contribute towards advancing the development of the industry. Effective risk management, stress testing and financial safety nets are particularly important focus-areas given the more challenging global financial environment amid the heightened geopolitical uncertainties and increased potential for financial vulnerabilities as well as the ongoing changes in the dynamics of the financial services industry.
At the end of the two-day programme, participants will be updated on the key emerging risks and issues for the IIFS in the current global environment, the latest approaches to risk management, the implementation of effective stress testing tools for IIFS, and the establishment of effective financial safety nets as well as the various developments in these areas, through shared industry experiences and best practices.

IFSB-FIS Workshop Series (Kazakhstan)
2019-07-22 - 2019-07-24 | Astana, Astana, Astana, Kazakhstan
his 3-day Facilitating the Implementation of the IFSB Standards (FIS) Workshop is tailored for Astana International Financial Center (AIFC). It will cover the following IFSB Standards:

Introduction to Islamic Capital Market (ICM)
Introduction to Takaful
IFSB-6:Guiding Principles on Governance for Islamic Collective Investment Schemes (ICIS)
IFSB-21: Core Principles for Islamic Finance Regulation (ICM Segment)
IFSB-11:Standard on Solvency Requirements for Takāful Undertakings
IFSB-20:Key Elements in the Supervisory Review Process of Takāful / Retakāful Undertaking

Overall, this Workshop aims to:

Enhance the participants’ understanding of the respective Standards and Guiding Principles of the IFSB, thereby facilitating the implementation of these standards in their respective jurisdictions;
Assist the participants in the practical application of issues addressed in the particular standards through case studies, hands-on exercises and other interactive tools; and
Promote the sharing of experiences among the participants on the implementation of respective IFSB Standards and Guiding Principles.

3rd Working Group Meeting on The Investor Protection Islamic Capital Market
2019-07-22 09:30 - 17:00 | Astana, Astana, Astana, Kazakhstan
The 3rd Working Group Meeting on The Investor Protection Islamic Capital Market is scheduled to be held as follow:

Date : 22 July 2019

Time : 9:30am – 5:00pm

Venue : Astana, Kazakhstan

4th Meeting of Working Group on the Core Principles for Islamic Finance Regulation: Effective Islamic Deposit Insurance Systems (CPIFR-IDIS)
2019-07-23 09:30 - 17:00 | Astana, Astana, Astana, Kazakhstan
The 4th Meeting of Working Group on the Core Principles for Islamic Finance Regulation: Effective Islamic Deposit Insurance Systems (CPIFR-IDIS) is scheduled to be held as follow:

Date : 23 July 2019

Time : 9:30am – 5:00pm

Venue : Astana, Kazakhstan

28th IFSB Arabic Editing Committee Meeting
2019-07-23 09:30 - 2019-07-29 17:30 | Kuala Lumpur, Kuala Lumpur, Malaysia, Malaysia
he 28th IFSB Arabic Editing Committee Meeting is scheduled to be held as follows:

Date : 23 – 29 July 2019

Time : 9.30 am to 5.30 pm

Venue : IFSB Meeting Room, IFSB, Level 5, Sasana Kijang, Jalan Dato Onn, 50480 Kuala Lumpur, Malaysia

Participation in the meeting is by INVITATION only. For more information please email to: khairun.nissa@ifsb.org

IFSB Members and Industry Engagement Session (MIES)
2019-07-24 | Astana, Astana, Astana, Kazakhstan
The IFSB’s Members and Industry Engagement Session is an initiative by the IFSB Secretariat to provide an interactive platform for communication between the IFSB member organisations, the bigger Islamic financial services industry stakeholders, and the IFSB Secretariat.

48th Meeting of the Technical Committee of the IFSB
2019-07-25 09:30 - 2019-07-26 17:30 | AIFC Investment Office, 55/17 Mangilik El Avenue C3.2, Astana, Kazakhstan
The 48th Meeting of the Technical Committee of the IFSB is scheduled to be held as follows:

Date : 25 – 26 July 2019

Time : 9.30 am to 5.30 pm

Venue : Astana, Kazakhstan

Participation in the meeting is by invitation only. For more information please email to: khairun.nissa@ifsb.org

12th Meeting of the Task Force on Prudential and Structural Islamic Financial Indicators (PSIFIs)
2019-08-27 09:30 - 2019-08-28 17:30 | Kuala Lumpur, Kuala Lumpur, Malaysia, Malaysia
The 12th Meeting of the Task Force on Prudential and Structural Islamic Financial Indicators (PSIFIs) is scheduled to be held as follows:

Date : 27 – 28 August 2019

Time : 9.30 am to 5.30 pm

Venue : Kuala Lumpur, Malaysia

Participation in the meeting is by INVITATION only. For more information please email to: khairun.nissa@ifsb.org

13th IFSB-INCEIF Executive Programme - Effective Utilisation of Islamic Capital Market (ICM) Instruments for Sustainable and Responsible Growth
2019-09-18 - 2019-09-19 | Training Room 3.3. and 3.4, Level 3, Sasana Kijang, 2, Jalan Dato Onn, Kuala Lumpur, Malaysia
The programme intends to keep the participants abreast of the latest developments on the Islamic Capital Markets (ICM) instruments and regulations from leading jurisdictions in the Sustainable and Responsible Investment (SRI) space as well as to keep informed of the contemporary issues and challenges with insights on how to overcome them.

Define and Discuss the role of Islamic financial instruments in addressing the current global issues surrounding Sustainable and Responsible Investment (SRI)
Assess the current state of the SRI markets, the potential for growth and the challenges that need to be addressed in order to fulfil its full potential
Discuss the need for creating greater awareness on convergence of Islamic finance and SRI
Explore new and existing potential Islamic products and platforms that could apply SRI

Enjoy 30% discount on second participant when you register 2 participants from the same organisation (not applicable to subsidiaries and affiliated companies)

3rd Meeting of the Technical Note on Recovery and Resolution Plan for Institutions offering Islamic Financial Services (IIFS)
2019-09-19 | Kuala Lumpur, Kuala Lumpur, Malaysia, Malaysia
The 3rd Meeting of the Technical Note on Recovery and Resolution Plan for Institutions offering Islamic Financial Services (IIFS) is scheduled to be held as follow:

Date: 19 September 2019

Time: 9:30am – 5:30pm
Venue: Kuala Lumpur, Malaysia (exact venue will be advise in due course)

Participation in the meeting is by invitation only. For more information please email to: fadhila@ifsb.org

3rd Working Group Meeting on Core Principles for Islamic Finance Regulation (Takaful Segment)
2019-09-20 | Training Room 3.3 & 3.4 Sasana Kijang Bank Negara Malaysia, 2, Jalan Dato Onn, Kuala Lumpur, Malaysia
The 3rd Working Group Meeting on Core Principles for Islamic Finance Regulation (Takaful Segment) is scheduled to be held as follow:

Date: 20 September 2019
Time: 9:30am – 5:30pm
Venue: Training Room 3.3 & 3.4 Sasana Kijang Bank Negara Malaysia, 2, Jalan Dato Onn, 50480 Kuala Lumpur, Malaysia.

Participation in the meeting is by invitation only. For more information please email to: fadhila@ifsb.org

IFSB-AMERC of IOSCO Joint High-Level Seminar on Development of Sukuk Markets in the Middle East and Africa: Growth Potential and Policy Considerations
2019-09-26 | Al Mudhaif Ballroom 1, The St. Regis Abu Dhabi, Corniche, Nation Towers - 1st St - Al Bateen, Abu Dhabi, United Arab Emirates
The Islamic Financial Services Board (IFSB) and Africa / Middle-East Regional Committee (AMERC) of IOSCO are jointly organising a High-Level Seminar, themed, “Development of Ṣukūk Markets in the Middle East and Africa: Growth Potential and Policy Considerations” on 26 September 2019 in Dubai, United Arab Emirates (UAE). The joint seminar will be hosted by the Securities and Commodities Authority UAE, in collaboration with Dubai Islamic Economy Development Centre (DIEDC), Gulf Bond and Ṣukūk Association (GBSA), S&P Global Ratings and National Bonds UAE.

The one-day joint high-level Seminar aims to examine the recent developments and future potential of ṣukūk markets in the Middle East and Africa region, and to identify areas where further development is needed to bolster the growth and effective utilisation of Islamic finance in realising the developmental objectives of the region. The Seminar will also discuss relevant aspects in strengthening the regulatory environment, including issues related to investor protection and financial stability and strengthening the overall growth and resilience of the region’s capital markets, taking into consideration the specificities and differences of ṣukūk from their conventional counterparts.

IFSB-FIS Workshop Series (Oman)
2019-09-30 - 2019-10-03 | Muscat, Muscat, Muscat, Oman
About the Workshop
This 4-day Facilitating the Implementation of the IFSB Standards (FIS) Workshop is tailored for Central Bank of Oman. It will discuss the following IFSB Standards:

IFSB-17: Core Principles for Islamic Finance Regulation (Banking Segment)
GN-6: Guidance Note on Quantitative Measures for Liquidity Risk Management
IFSB-22:Revised Standard on Disclosures to Promote Transparency and Market Discipline for IIFS
IFSB-10:Guiding Principles on Sharī`ah Governance Systems for IIFS
ED-07:Guidance Note on Sharī`ah Compliant Lender of Last Resort Facilities
WP-06:Strengthening the Financial Safety Net: The Role of Sharī`ah-compliant Lender-of Last-Resort (SLOLR) Facilities as an Emergency Financing Mechanism
TN-2:Technical Note on Stress Testing for Institutions Offering Islamic Financial Services (IIFS)

As a background, the main objective of IFSB-17 is to provide a set of Core Principles – along with associated assessment methodology – for the regulation and supervision of the Islamic financial services industry (IFSI), taking into consideration the specificities of the IIFS in the banking segment, the lessons learned from the financial crisis, and complementing the existing international standards, principally the Core Principles for Effective Banking Supervision issued by the Basel Committee on Banking Supervision.

GN-6: Quantitative Measures for Liquidity Risk Management Guidance Note complements IFSB-12, and supports the harmonised application of the international regulatory regime in the area of liquidity risk management. This is achieved by providing guidance on the application of global liquidity standards for the IIFS, especially the Liquidity Coverage ratio (LCR) and Net Stable Funding Ratio (NSFR) at the current stage, with suitable adjustments based on the specific operational characteristics. Moreover, it provides guidance to supervisory authorities on the application of the LCR and NSFR in their jurisdictions, including application of the alternative liquidity approaches (ALA).

IFSB-22: Revised Standard on Disclosures to Promote Transparency and Market Discipline for IIFS, for its part, considers disclosure-aspects relevant to consumer protection and sets key point-of-sale disclosure requirements. The disclosure principles and practices suggested by this Standard widen the scope of IFSB-4 and are designed to enable market participants and IAH to assess several key information. This information include, among others the type of IIFS, capital structure, treatment of investment accounts, including their risks and returns, risk exposures, key aspects of general governance and Sharī`ah governance, consumer protection and others.

Moreover, IFSB-10: Guiding Principles on Sharī`ah Governance Systems will include the components of a sound Sharī`ah governance system especially with regards to the competence, independence, confidentiality and consistency of the Sharī`ah boards.

TN-2: Technical Note on Stress Testing will provide stress testing scenarios that address multiple types of risks and their interrelated effects on the overall financial position and performance of the portfolio, the institution itself or the overall financial system. It incorporates risk specificities of Sharī`ah-compliant contracts’ when conducting stress tests on an IIFS.

In addition, the workshop will shed light on the IFSB Working Papers on ‘Strengthening the Financial Safety Net: The Role and Mechanisms of SCDIS’ (WP-06) and the Expousre Draft on Guidance Note on Sharī`ah Compliant Lender of Last Resort Facilities (GN-7).

Overall, this Workshop aims to:

1. Enhance the participants’ understanding of the respective Standards and Guiding Principles thereby facilitating the implementation of these standards in their respective jurisdictions;

2. Assist the participants in the practical application of issues addressed in the particular standards through case studies, hands-on exercises and other interactive tools; and

3. Promote the sharing of experiences among the participants on the implementation of respective IFSB Standards and Guiding Principles.

5th Meeting of the Working Group on the Revised Capital Adequacy Standard for the Islamic Banking Sector
2019-09-30 09:30 - 17:30 | Central Bank United Arab Emirates (CBUAE), F84P+MWQ - next to King Abdullah Bin Abdulaziz Al Saud Street - Al Bateen, Abu Dhabi, United Arab Emirates
The 5th Meeting of the Working Group on the Revised Capital Adequacy Standard for the Islamic Banking Sector is scheduled to be held as follow:
Date : 30 September 2019
Time : 9:30am – 5:30pm
Venue : Central Bank United Arab Emirates (CBUAE), Abu Dhabi, UAE
Participation in the meeting is by INVITATION only. For more information please email to: fadhila@ifsb.org

4th Working Group Meeting on The Investor Protection Islamic Capital Market
2019-10-01 09:30 - 17:30 | Central Bank United Arab Emirates (CBUAE), F84P+MWQ - next to King Abdullah Bin Abdulaziz Al Saud Street - Al Bateen, Abu Dhabi, United Arab Emirates
The 4th Working Group Meeting on The Investor Protection Islamic Capital Market is scheduled to be held as follow:
Date : 1 October 2019
Time : 9:30am – 5:30pm
Venue : Central Bank United Arab Emirates (CBUAE), Abu Dhabi, UAE
Participation in the meeting is by INVITATION only. For more information please email to: fadhila@ifsb.org

5th Meeting of the Working Group on Disclosure to Promote Transparency and Market Discipline for Takaful / Retakaful Undertaking
2019-10-02 09:30 - 17:30 | Central Bank United Arab Emirates (CBUAE), F84P+MWQ - next to King Abdullah Bin Abdulaziz Al Saud Street - Al Bateen, Abu Dhabi, United Arab Emirates
The 5th Meeting of the Working Group on Disclosure to Promote Transparency and Market Discipline for Takaful / Retakaful Undertaking is scheduled to be held as follow:
Date : 2 October 2019
Time : 9:30am – 5:30pm
Venue : Central Bank United Arab Emirates (CBUAE), Abu Dhabi, UAE
Participation in the meeting is by INVITATION only. For more information please email to: fadhila@ifsb.org

2nd Meeting on the Revised Shariah Governance Framework Standard Working Group
2019-10-14 09:30 - 17:00 | Central Bank of Bahrain, Manama, Bahrain
The 2nd Meeting on the Revised Shariah Governance Framework Standard Working Group is scheduled to be held as follow:

Date : 14 October 2019
Time : 9:30am – 5:00pm
Venue : Central Bank of Bahrain, Manama, Bahrain

Participant in the meeting is by INVITATION only. For more information, please email to : fadhila@ifsb.org

IFSB-AAOIFI Joint Seminar on the Prudential Implications of IFRS-9 and its FAS Equivalents for Islamic Financial Institutions
2019-10-15 - 2019-10-16 | Downtown Rotana, 110 Government Avenue Manama, Manama, Bahrain
The IFSB and AAOIFI are jointly-organising a Seminar themed “Prudential Implications of IFRS-9 and its FAS Equivalents for Islamic Financial Institutions” which will be hosted by Central Bank of Bahrain.

The objectives of this Seminar are:

To understand various implications on the implementation of IFRS-9 and AAOIFI FAS 30 for IIFS
To discuss policy issues and a way forward in respect of the unique challenges posed by the IFRS-9 and FAS 30 for IIFS
To gather insight and discuss the prudential and regulatory considerations in the implementation of IFRS-9 and FAS 30 by IIFS
To discuss and identify the accounting and Shariah considerations in implementing the IFRS-9 and FAS-30 for IIFS

For registration and further enquiries, kindly contact Mrs. Ida Shafinaz Ab Malek at ida.shafinaz@ifsb.org

49th Meeting of the Technical Committee of the IFSB
2019-10-23 09:30 - 2019-10-24 02:00 | Kuala Lumpur, Kuala Lumpur, Malaysia, Malaysia
The 49th Meeting of the Technical Committee of the IFSB is scheduled to be held as follows:

Day 1

Date : 23 October 2019

Time : 9.30 am to 4.00 pm

Location : Kuala Lumpur, Malaysia

Day 2

Date : 24 October 2019

Time : 9.30 am to 2.00 pm

Location : Kuala Lumpur, Malaysia

Participation in the meeting is by invitation only. For more information please email to: khairun.nissa@ifsb.org

IFSB-FIS Workshop Series (Islamic Capital Market Sector)
2019-10-29 - 2019-10-31 | Training Room 3.1, Sasana Kijang, Jalan Dato Onn, Bank Negara Malaysia, 2, Jalan Dato Onn, Kuala Lumpur, Malaysia
About the Workshop

This 3-day Workshop is tailored for the regulatory and supervisory authorities for the Islamic Capital Market sector on the following IFSB Standards:

•
Introduction to Islamic Capital Market

•
IFSB-6
:
Guiding Principles on Governance for Islamic Collective Investment Schemes (ICIS)

•
IFSB-10
:
Guiding Principles on Sharī`ah Governance Systems for IIFS

•
IFSB-19
:
Guiding Principles on Disclosure Requirements for Islamic Capital Market Products (Sukūk and Islamic Collective Investment Schemes)

•
IFSB-21
:
Core Principles for Islamic Finance Regulation (ICM Segment)

As an overview, for the first session, the Workshop will provide insights on the fundamentals of Islamic Capital Market, the background and development of Islamic equity market and Islamic hedging products. Besides, the participants will also be exposed to various aspects related to Sukūk and securitisation as well as Islamic Collective Investment Schemes (ICIS) in the remaining sessions.

IFSB Guiding Principles on Governance for Islamic collective investment schemes (ICIS) (IFSB-6) reinforces the international best practices on supervising Collective Investment Schemes market while addressing the specificities of ICIS with respect to general governance; transparency and disclosure issues; compliance with Sharī`ah rules and principles as well as examination of additional protection required by the ICIS investors.

IFSB-10: Guiding Principles on Sharī`ah Governance Systems includes the components of a sound Sharī`ah governance system especially with regards to the competence, independence, confidentiality and consistency of the Sharī`ah boards.

IFSB-19: Guiding Principles on Disclosure Requirements for Islamic Capital Market Products sets out general principles on disclosure requirements for ICM products, specifically for ṣukūk and ICIS. The standard provides guidance to Regulatory and Supervisory Authorities (RSAs) to assess the adequacy of the disclosure frameworks.

IFSB-21: on Core Principles for Islamic Finance Regulation (ICM Segment). The Standard provides a set of core principles for the regulation and supervision of the ICM, taking into consideration the specificities of Islamic finance. It envisages that these core principles will be used by jurisdictions as a benchmark for assessing the quality of their regulatory and supervisory systems, and for identifying future work to achieve a baseline level of sound regulations and practices for ICM products and services.

Overall, this Workshop aims to:

Enhance the participants’ understanding of the respective Standards and Guiding Principles thereby facilitating the implementation of these standards in their respective jurisdictions;
Assist the participants in the practical application of issues addressed in the particular standards through case studies, hands-on exercises and other interactive tools; and
Promote the sharing of experiences among the participants on the implementation of respective IFSB Standards and Guiding Principles.

Day 1
29/10/2019
09:00 – 09:30
Registration

09:30 – 09:45
Opening & Welcoming Address Group Photo

09:45 – 11:15
Session 1: Introduction to Islamic Capital Market Islamic Capital Market Development – Issues and Challenges Sukuk Structures Islamic Hedging Products

11:15 – 11:30
Coffee Break

11:30 – 13:00
Session 2: IFSB-6 – Governance for Islamic Collective Investment Schemes (ICIS) Islamic Collective Investment Scheme Overview Motivating Factors for the Governance of ICIS Guiding Principles on Governance for ICIS

13:00 – 14:00
Lunch and Prayer

14:00 – 16:00
Session 3: IFSB-6 – Governance for ICIS – Cont’d Compliance with Sharī`ah Rules and Principles Additional Protection for ICIS Investors Case Study

16:00 – 16:15
Coffee Break

Day 2
30/10/2019
09:30 – 11:00
Session 4: IFSB-19 – Guiding Principles on Disclosure Requirements for Islamic Capital Market Products (Sukūk and ICIS) Common General Principles General Disclosure Principles Applicable to Sukūk Sharīʻah and Structure-related Disclosures for Sukūk

11:00 – 11:30
Lunch and Prayer

11:30 – 13:00
Session 5: IFSB-19 – Guiding Principles on Disclosure Requirements for Islamic Capital Market Products (Sukūk and ICIS) – Cont’d Sharīʻah and Operations-related Disclosures for ICIS Specialist ICIS Disclosure Case Study

13:00 – 14:00
Coffee Break

14:00 – 16:00
Session 6: IFSB-10 – Guiding Principles on Sharī`ah Governance System for IIFS Structure of the Sharī`ah Governance System Scope of Sharī`ah Governance System Disclosure of Compliance with IFSB-10 General Approach to the Sharīʻah Governance System

Day 3
31/10/2019
09:30 – 11:00
Session 7: IFSB-10 – Guiding Principles on Sharī`ah Governance System for IIFS (Cont’d) Guiding Principles on the Sharī`ah Governance System – Competence and Independence Guiding Principles on the Sharī`ah Governance System – Confidentiality Guiding Principles on the Sharī`ah Governance System – Consistency Case Study

11:00 – 11:30
Coffee Break

11:30 – 13:00
Session 8: IFSB-21 – Core Principles for Islamic Finance Regulation (ICM Segment) Objectives of Islamic Capital Markets Regulation Principles Relating to the Regulator Principle Relating to Sharīʻah Governance Principles Relating to Enforcement

13:00 – 14:00
Lunch and Prayer

14:00 – 16:00
Session 9: IFSB-21 – Core Principles for Islamic Finance Regulation (ICM Segment) (Cont’d) Principles Relating to Issuers Principles related to Islamic Collective Investment Schemes Principles related to Market Intermediaries Principles relating to Secondary Markets and Other Markets

16:00 – 16:15
Closing & Certificate Giving Ceremony

16:15 – 16:45
Coffee Break
