IFSB to organise three awareness programmes in October 2010
Kuala Lumpur, 22 September 2010 – The Islamic Financial Services Board, the body mandated to develop international prudential standards for the Islamic financial services industry, will be organising three awareness programmes in October 2010. The three programmes, two seminars and one roundtable, will focus on Islamic capital markets, business models in Islamic finance and issues related to effective insolvency regimes.
The three programmes are open for participation by the IFSB member organisations, which currently stand at 195 organisations from 41 countries. The seminars are, however, also open to the public and registration is free of charge. Details of the programmes are described below. The full programme agendas and registration forms are available on the IFSB website (www.ifsb.org).
| 1. | Seminar on Islamic Capital Markets Friday, 1st October 2010 | The Marmara Hotel, Istanbul, Turkey The Seminar, which the Istanbul Stock Exchange is hosting, is held back to back with the OIC Member States Stock Exchanges Forum and Meetings. The Seminar aims to discuss the structural issues in Islamic capital markets focusing on its development and regulatory issues. It is targeted to representatives of securities commissions and exchanges, as well as market players, specifically from among the compliance, strategic planning, development, and legal departments. The Seminar will address the following topics: 1) General Issues in Islamic Capital Markets; 2) Sharī`ah and Legal Issues in Islamic Capital Markets; 3) Islamic Capital Market Products and Liquidity Management; and 4) Future Challenges and Opportunities for Islamic Capital Markets. |
| 2. | Seminar on Business Models in Islamic Finance: Challenges and Opportunities Sunday, 3rd October 2010 | Ritz-Carlton Hotel and Spa, Manama, Bahrain The Seminar will discuss general and specific issues relating to business models in Islamic finance, with particular focus on profit-sharing investment accounts and Sharī`ah-compliant private equity accounts. The presentations and discussions in this half-day Seminar are aimed to further the understanding of the industry practitioners and supervisory bodies on the application of these two models, as well as contribute to the growth and development of a sound and stable Islamic financial services industry. H.E. Mr Rasheed Al Maraj, Governor of the Central Bank of Bahrain, and Member of the IFSB Council will deliver the Gala Dinner Keynote Address, while Professor Datuk Rifaat Ahmed Abdel Karim, Secretary-General of the IFSB will deliver the opening remarks on the morning of the Seminar. |
| 3. | IFSB-World Bank Roundtable Discussion on Effective Insolvency Regimes: Institutional, Regulatory and Legal Issues Relating to Islamic Finance Sunday, 10th October 2010 | The World Bank, Washington DC, USA The Roundtable will be held in conjunction with the upcoming International Monetary Fund/WB Annual Meetings in Washington DC, USA. The IFSB is collaborating with The World Bank on a joint project to explore and study the regulatory and legal issues related to resolution regimes for institutions offering Islamic financial services. Recent developments have prompted new work on the analysis of legal, institutional and regulatory issues relating to the resolution of conventional banks, which have become insolvent. Given the rapid expansion of the Islamic financial services industry and the increasing trend of cross-border trades in these services, it is equally important that regulatory authorities are aware and become well-versed to address the issues related to bank resolution regimes that are consistent with Sharī`ah and benchmarked against best international practices. The proceedings of this Roundtable will be published in a book which will comprise an issues paper and commentaries by several industry experts and supervisory and regulatory organisations. The book is planned to be published towards the end of 2010. |
