Kuala Lumpur, 18 March 2025 – The Islamic Financial Services Board (IFSB) has issued the Exposure Draft (ED) of the Guidance Note on Recovery and Resolution of Takāful Undertakings (GN-10) for public consultation.
The Guidance Note (GN) provides application-level guidance on Takāful Core Principles (TCPs) 12 (Exit from The Market and Resolution) and 16 (Enterprise Risk Management for Solvency Purposes). The GN complements the guidance provided by the Financial Stability Board (FSB) Key Attributes and the International Association of Insurance Supervisors (IAIS) application papers on recovery planning, and resolution powers and planning, addressing additional aspects of takāful not covered in these standards and guidance.
A public hearing session will be held via webinar on 15 April 2025 to present the consultation material and answer questions from stakeholders. Details will be announced on the IFSB website.
The softcopy of ED-GN-10 is available on the IFSB website, here.
The IFSB invites all interested parties to send their comments through email to [email protected] by 1 May 2025.
For more information on IFSB, visit www.ifsb.org.
