The IFSB and AAOIFI to Jointly Organise a Seminar on the Prudential Implications of IFRS-9 and its FAS Equivalents for Islamic Financial Institutions

The two-days seminar themed 'Prudential Implications of IFRS-9 and its FAS Equivalents for Islamic Financial Institutions'


Kuala Lumpur - The Islamic Financial Services Board (IFSB) and Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) will be organising a free admission joint seminar themed "Prudential Implications of IFRS-9 and its Financial Accounting Standard (FAS) Equivalents for Islamic Financial Institutions" on 15-16 October 2019 in Manama, Bahrain.

The two-days seminar themed ‘Prudential Implications of IFRS-9 and its FAS Equivalents for Islamic Financial Institutions’ hosted by the Central Bank of Bahrain aims to engage participants with better understanding of the various implications and a way forward for the implementation of IFRS 9 and its equivalent FAS 30 by Institutions Offering Islamic Financial Services (IIFS).

The two-day Seminar will have the following sessions:

  • Session 1: IFRS-9 and FAS-30 Implications for IIFS: Market perspective;
  • Session 2: IFRS-9 and FAS provisions for IIFS: Accounting Perspective;
  • Session 3: Prudential Implications of IFRS-9 and its FAS equivalents for IIFS: Regulatory Perspective;
  • Session 4: IFRS-9 implementation and specific considerations for Islamic finance: Shari'ah Perspective;
  • Session 5: Way Forward: Addressing the challenges and impact of implementing IFRS-9 and FAS by IIFS

Overall, the seminar aims to:

  • To discuss policy issues and a way forward in respect of the unique challenges posed by the IFRS-9 and FAS 30 for IIFS;
  • To gather insight and discuss the prudential and regulatory considerations in the implementation of IFRS-9 and FAS 30 by IIFS;
  • To discuss and identify the accounting and Shari’ah considerations in implementing the IFRS-9 and FAS-30 for IIFS.

The IFSB-AAOIFI joint seminar targets participants from among the mid to senior-level management, who seek to sharpen their skills and deepen their knowledge of the industry’s driving factors, as well as broaden their cross-border perspectives. Interested participants may register online at:

Participation in this Seminar is free and for more information of the Seminar and to register, please visit or contact Mrs. Ida Shafinaz Ab. Malek at

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

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