Kuala Lumpur, 29 August 2016

The Islamic Financial Services Board (IFSB) is pleased to announce the annual Workshops for Facilitating the Implementation of the IFSB Standards (FIS) for the Banking, Takaful and Islamic Capital Market (ICM) sectors in October and November 2016 in Kuala Lumpur, Malaysia. The FIS Workshops are open to the staff of regulatory and supervisory authorities from the IFSB member organisations.

Details of the three Workshops are as follows:

1) FIS Workshop for the BANKING Sector on 24 - 28 October 2016

Four IFSB Standards will be covered in this Workshop. They are: Revised Capital Adequacy Standard (IFSB-15), Core Principles for Islamic Finance Regulation (Banking Segment) (IFSB-17), Guidance Note on Quantitative Measures for Liquidity Risk Management (GN-6) and Guiding Principles on Stress Testing (IFSB-13). In addition, practical examples outlined in Exposure Draft of Technical Note on Stress Testing for IIFS (ED of TN-2) will be shared with the participations. The Workshop will also include a Special Session on Experience Sharing on the IFSB Standards' Implementation.

2) FIS Workshop for the ICM Sector on 29 November - 1 December 2016

Among the topics which will be covered in this Workshop are: Introduction to ICM focusing on Sukuk and Securitisation, which is a section in the Revised Capital Adequacy Standard for IIFS (IFSB-15), Guiding Principles on Governance for Islamic Collective Investment Schemes (IFSB-6) and Principles on Shariah Governance Systems for IIFS (IFSB-10). The Workshop participants will also participate in an IFSB Roundtable on Disclosure Requirements for ICM Products on 30 November 2016.

3) FIS Workshop for the TAKAFUL Sector on 29 November - 1 December 2016

This Workshop will start with an Introduction to Takaful, Models and Features as well as Experience Sharing on Regulating Takaful & Retakaful Sector in Various Jurisdictions. It will specifically cover four IFSB Standards on the Takaful sector which are: Guiding Principles for Retakaful (IFSB-18), Standard on Risk Management for Takaful Undertakings (IFSB-14), Standard on Solvency Requirements for Takaful Undertakings (IFSB-11) and Guiding Principles on Governance for Takaful Undertakings (IFSB-8).

The objectives of the FIS Workshops are to:

· enhance the participants' understanding of the respective Standards and Guiding Principles relevant to each sector, thereby improving their capacity for the implementation of these Standards in their jurisdictions.

· assist the participants in the practical application of the issues addressed in the IFSB Standards through case studies, group exercises and other interactive tools; and

· promote the sharing of experiences among regulators and market players on the implementation of the IFSB Standards.

These Workshops also intend to serve as a Train the Trainer programme for the participants to bring back knowledge and dissemination of information to their organisations on the application of the IFSB Standards and Guiding Principles.

The IFSB invites all regulatory and supervisory authorities from among the IFSB member organisations to participate in these Workshops. For more information on the Workshops, please visit www.ifsb.org or contact Mr. Hamizi Hamzah at hamizi@ifsb.org.

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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 and market players, professional firms and industry associations.

For more information about the IFSB, please visit www.ifsb.org.

© Press Release 2016