Islamic Finance 

The IFSB Organises Workshop on Banking Standards in Iraq

| 14 March, 2019

Kuala Lumpur, 14 March 2019 - The Islamic Financial Services Board (IFSB) is organising a Facilitating the Implementation of the IFSB Standards (FIS) Workshop in Baghdad, Iraq on 1 – 3  April 2019. This Workshop is hosted by the Central Bank of Iraq.

The 3-day Workshop will focus on the following IFSB Standards:

  • IFSB-15: Revised Capital Adequacy Standard for Institutions Offering Islamic Financial Services (IIFS);
  • GN-3:Guidance Note on the Practice of Smoothing the Profit Payout to Investment Account Holders;
  • GN-4:Guidance Note in Connection with the IFSB Capital Adequacy Standard: The Determination of Alpha in the Capital Adequacy Ratio for IIFS; and
  • GN-6:Guidance Note on Quantitative Measures for Liquidity Risk Management

Overall, the Workshop aims to:

  1. Enhance the participants’ understanding of the respective Standards and Guiding Principles;
  2. Assist the participants in the practical application of issues addressed in the particular standards through case studies, hands-on exercises and other interactive tools; and
  3. Promote the sharing of experiences among the participants on the implementation of respective IFSB Standards and Guiding Principles.

The FIS Workshops are a part of the IFSB’s support to its members based on the Strategic Key Result Area 2 (SKRA 2) on the Facilitating the Implementation of Prudential Standards and Capacity Development under the IFSB’s Strategic Performance Plan (SPP) 2016-2018”, to assist member organisations in adopting and implementing the IFSB Standards.

For enquires on IFSB workshops and membership services, please contact the IFSB Secretariat at ifsb_sec@ifsb.org.

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NOTE TO EDITOR:

About the Islamic Financial Services Board (IFSB)

The 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. 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. The members of the IFSB comprise regulatory and supervisory authorities, international inter-governmental organisations, market players, professional firms and industry associations. For more information about the IFSB, please visit www.ifsb.org

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