Kuala Lumpur, 13 January 2014 – The Islamic Financial Services Board (IFSB) is a Seminar and two Workshops and in Khartoum, Sudan on 18 – 20 February 2014. The Central Bank of Sudan is kindly hosting the Workshops and other events.
The IFSB will organise its 6th Seminar on the Regulation of Takāful, which is part of the IFSB mandate to facilitate the development of Islamic finance, including the Takāful segment of the industry. The Seminar, which will be held on 19 February 2014, is themed “Current Regulatory Issues Facing the Islamic Financial Industry”. It aims to deepen understanding on pertinent issues relating to the regulation of Takāful, taking into consideration the changing dynamics of the industry post-crisis. Previous Takāful Seminars have been held in Jordan (2005), Malaysia (2006), Egypt (2006), Singapore (2009) and UAE (2010). Participation for this seminar is free and is open to all.
The 6th Seminar on the Regulation of Takāful will be held back to back with the GTG/ICMIF/IFTI Joint Takāful Network Seminar 2014 which will take place from 16 – 18 February 2014. A special IFSB session on Takāful will be held on 18 February 2014 as part of the GTG/ICMIF/IFTI Seminar.
The Workshops will focus on Facilitating the Implementation of the IFSB Standards (FIS) on Banking and Takāful. The FIS Workshops on Banking, to be held on 18 to 20 February 2014 will discuss the regulatory framework based on Basel III which is part of the newly adopted Revised Capital Adequacy Standard (IFSB-15), Capital Adequacy Requirements for Sukūk, Securitisations and Real Estate investment (IFSB-7), Guidance Note on the Practice of Smoothing the Profits Payout to Investment Account Holders (GN-3) and Guidance Note in Connection with the IFSB Capital Adequacy Standard: The Determination of Alpha in the Capital Adequacy Ratio (GN-4).
Meanwhile, the IFSB Workshop on Takāful which will be held on 20 February 2014 will cover the newly issued standard on Risk Management for Takāful (IFSB-14).
The Central Bank of Sudan will also host an IFSB Meet the Members Session on 18 February 2014. The IFSB has 20 member organisations from Sudan representing all sectors in the Islamic financial services industry (IFSI).
The Central Bank of Sudan is a Founding member of the IFSB, and sits as a Permanent Member of the IFSB Council. The Sudanese financial experts and leaders have also contributed greatly to the work of the IFSB since its establishment in 2002, by participating in the technical committee, working groups, task forces, roundtables, forums and seminars.
As space is limited, interested participants are invited to visit www.ifsb.org for registration. Please contact Mrs. Ida Shafinaz Ab. Malek at [email protected] for further information on the Seminar and the Workshops.
