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Online Executive Programme on Islamic Capital Market and Takāful for IFSB Members

Date posted: 19 October 2020

19 October 2020, Kuala Lumpur, Malaysia – The IFSB is pleased to announce that an online Executive Programme (EP) will be conducted with the theme, “Covid-19 and Implications for the Islamic Capital Market and Takāful Sectors”. This online Executive Programme will be held tomorrow, 20 October 2020, 14:30 - 17:50 (Malaysia time) and is free for IFSB member organisations.
 
The COVID-19 crisis has resulted in an extraordinary supply and demand shock to the global economy with far reaching consequences, including implications for the financial markets and insurance sectors. The uncertainties resulting from COVID-19 are also likely to remain for the foreseeable future. 
 
The initial impact of the COVID-19 outbreak on the capital markets was acute. It resulted in sharp price adjustments across both the fixed-income and equity markets, capital outflows and a liquidity crunch across global financial markets. As the pandemic continues to evolve, it also presents both immediate and future challenges for the rest of the financial system, including takāful and retakāful institutions, among others.
 
While the policy responses to address the immediate effects of COVID-19 on the financial system has been swift, further assessment is needed on how policies should continue to evolve to preserve financial stability and address the potential medium- and longer-term effects of COVID-19, and in particular, whether there are any Islamic finance specific risks, challenges or opportunities for players in the Islamic capital markets and the takāful sector.
 
The executive programme aims to answer these crucial questions and to encourage discussion, debate and sharing of country challenges, experiences and policy approaches, focusing particularly on the Islamic capital market and takāful sectors.
 
Hence, the objectives of this EP are:
  • To discuss the impact of COVID-19 on the Islamic capital market and its implications for the stability and resilience of the financial system
  • To discuss the implications of COVID-19 for takāful institutions and identify specific risk factors that might arise in relation to specificities of Islamic finance
  • To discuss the areas where regulatory responses may be needed to address the impact of COVID-19 to ensure the resilience and stability of takāful institutions and Islamic capital market.
IFSB member jurisdictions are encouraged to participate in this online Executive Programme. Interested participants are invited to register at www.ifsb.org. Please contact Ms Noor Azmah Mohd Yusof (noor.azmah@ifsb.org) for further information.


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