Enhancing the Resilience and Stability of the Islamic Financial System is theme for IFSB and IIF Conference

Kuala Lumpur, June 10th, 2008 – The Islamic Financial Services Board (IFSB) and the Institute of International Finance (IIF) are jointly organising a Conference themed Enhancing the Resilience and Stability of the Islamic Financial System scheduled to be held on 20-21 November 2008 in Kuala Lumpur, which Bank Negara Malaysia is hosting.

The Seminar is organised in response to the increasing global interest shown in Islamic financial services and is the first such cooperation between the IFSB and IIF. The one and half-day conference will discuss and deliberate issues relating to the resilience and stability of the Islamic financial system during periods of economic difficulties and crisis.

Secretary General of the IFSB, Professor Rifaat Ahmed Abdel Karim, commenting on the importance of holding this Conference said “The Conference will provide a splendid opportunity to discuss the robustness of the existing infrastructures of the Islamic financial system when facing major financial crisis.”

Charles Dallara, Managing Director of the Institute of International Finance reiterated this point. “The Islamic financial system is growing in its role in the global financial framework, and it is important that the broad international financial community gain a still stronger understanding of it. This meeting provides an excellent opportunity to do this and to underscore the system’s potential and strengths. The IIF today has more than 370 member financial services institutions across the world and we are particularly pleased to be partnering with the IFSB in organising this Conference.”

More information on the Conference will be posted on the IFSB (www.ifsb.org) and the IIF (www.iif.com) websites in due course.

*Notes to the Editor:

About the IFSB
The Islamic Financial Services Board (IFSB) is an international standard-setting organisation that promotes and enhances the soundness and stability of the Islamic financial services industry by issuing global prudential standards and guiding principles for the industry, broadly defined to include banking, capital markets and insurance sectors.

To date, the 164 members of the IFSB comprises 41 regulatory and supervisory authorities, six international inter-governmental organisations and 117 market players and professional firms operating in 33 jurisdictions. The IFSB also conducts research and coordinates initiatives on industry-related issues, as well as organises roundtables, seminars and conferences for regulators and industry stakeholders. Towards this end, the IFSB works closely with relevant international, regional and national organisations, research/educational institutions and market players.

For more information about the IFSB, please visit www.ifsb.org

About IIF
The Institute of International Finance (IIF), established in 1982 and headquartered in Washington DC, USA, is the leading global association of financial services firms with more than 370 member financial institutions. The IIF is a lead convener of major meetings of chief executive officers and chief risk officers, and senior banking executives together with finance ministers and central bank officials and leaders of public finance. The IIF’s main activities are to:

1. Provide high-quality, timely, and impartial analysis and research to our members on emerging markets and other central issues in global finance.
   
2. Systematically identify, analyze, and shape regulatory, financial, and economic policy issues of relevance to our members globally or regionally.
   
3. Develop and advance representative views and constructive proposals that influence the public debate on particular policy proposals, including those of multilateral agencies, and broad themes of common interest to participants in global financial markets.
   
4. Work with policymakers, regulators, and multilateral organizations to strengthen the efficiency, transparency, stability and competitiveness of the global financial system, with an emphasis on voluntary market-based approaches to crisis prevention and management.
   
5. Promote the development of sound financial systems, with an emphasis on emerging markets.
   
6. Provide a network for members to exchange views and offer opportunities for effective dialogue among policymakers, regulators, and private sector financial institutions.
   
7. Define, articulate, and disseminate best practices and industry standards in such areas as risk management and analysis, disclosure, corporate governance and regulatory compliance.
8. Support education and training efforts of our members in priority areas.

For more information about the IIF, please visit www.iif.com