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: https://www.ifsb.org/register_online.php?act=addnew&e_id=408.

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

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

© Press Release 2019

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.


More From Press Releases