The IFSB and ISRA Sharī`ah Roundtable to discuss Financial Safety Net

26 October 2015, Kuala Lumpur – The Islamic Financial Services Board (IFSB) and International Sharī`ah Research Academy for Islamic Finance (ISRA) are jointly organising a Sharī`ah Roundtable on 5 November 2015 in Kuala Lumpur, Malaysia. The Roundtable’s theme will be ‘Financial Safety Nets: Striking a Balance between Sharī`ah Requirements and the Soundness of the Islamic Financial System’.

The Roundtable aims to provide a platform that will bring together Sharī`ah scholars, legal practitioners, regulators and market players to discuss key aspects of financial safety nets such as Lender of the Last Resort (LOLR) and Deposit Insurance Schemes from the Sharī`ah perspective in order to identify the major obstacles, issues and challenges in introducing such facilities in different jurisdictions.

Among the confirmed Sharī`ah scholars participating in the Roundtable are Sheikh Dr. Abdul Sattar Abu Ghuddah, Sheikh Professor Ali Muhydin Al-Qaradaghi, Sheikh Datuk Dr. Daud Bakar, Sheikh Mohamad Ali Elgari and Sheikh Dr. Oni Sahrani.

The discussants of the Roundtable will include legal practitioners, regulators and market players, including:

• Ghulam Shabbir, Senior Joint Director, Islamic Banking Department, State Bank of Pakistan
• Badlisyah Abdul Ghani, President of the Chartered Institute of Islamic Finance Professional (CIIF), Former CEO of CIMB Islamic, Malaysia
• Professor Dr. Engku Rabiah Adawiyah Engku Ali, Professor, International Islamic University Malaysia (IIUM)
• Mohd. Sobri Mansor, Senior Manager, Malaysia Deposit Insurance Corporation
• Madzlan Mohamad Hussain, Partner and Head Islamic Financial Services Practice, Zaid Ibrahim & Co.
• Hissam Kamal Hassan, Research Fellow, ISRA
• Jamshaid Anwar Chattha, Chief Financial Analyst, Financial Stability Office/Supervision Sector, Central Bank of Kuwait
• Syed Faiq Najeeb, Member of the Secretariat, Technical & Research Department, IFSB

The opening addresses of the Roundtable will be delivered by Jaseem Ahmed, Secretary-General of the IFSB, and Professor Dr. Mohamad Akram Laldin, Executive Director of ISRA

The Roundtable discussions aim to take stock of, and analyse, the available safety net structures, as well as suggest solutions that can ensure the fulfillment of Sharī`ah requirements which, at the same time, meet the objective of strengthening the soundness and resilience of the Islamic financial services industry.

The Roundtable is held back to back with ISRA’s 10^th International Sharī`ah Scholars Forum (ISSF 2015) which will be held on 3 – 4 November 2015 in Kuala Lumpur.

For further information of the Roundtable, visit www.ifsb.org, or contact Mrs Ida Shafinaz Ab. Malek at [email protected].