Jeddah, 8 December 2015
The Islamic Financial Services Board (IFSB) introduced its latest initiative, the FIS E-Learning Portal, in line with its efforts to facilitate the implementation, and assist in the understanding, of the IFSB Standards by member countries. This FIS E-learning Portal will increase the reachability of the IFSB's "Facilitating the Implementation of Standards (FIS)" initiative.
Secretary-General of the IFSB, Jaseem Ahmed stated that "The development and introduction of an E-learning platform for the IFSB Standards provides our diverse members, from 47 countries, with on-demand access to capacity development material for a wide range of Standards". The FIS E-learning portal provides both IFSB members and non-member organisations a comprehensive learning and knowledge management suite with a number of interactive features that will assist in developing and enhancing knowledge as well as understanding of IFSB standards.
The E-modules will cover seven standards which have been transformed into a total of 14 E-Learning modules with a collective seat time of 15 hours. The IFSB Standards are IFSB-1 (Risk Management), IFSB-6 (Governance for Collective Investment Schemes), IFSB-10 (Shariah Governance System), IFSB-14 (Risk Management for Takaful), IFSB-15 (Revised Capital Adequacy), IFSB-16 (Revised Supervisory Review Process) and IFSB-17 (Core Principles for Islamic Finance Regulation).
The FIS E-learning Portal is an extension of the FIS activities and aims to facilitate training and personnel development in skill areas relevant to the effective supervision and regulation of the IFSI. It complements the current IFSB implementation activities, including FIS Workshop Series (country, regional and customised) and technical assistance in order to increase the understanding and adoption of the IFSB Standards, Guidance Notes and Technical Notes.
The modules are available to both IFSB member and non-member organisations by subscription. As an extension of the IFSB membership benefits, a certain number of complimentary subscriptions are made available to organisations from the various categories of IFSB membership. More details of the FIS E-Learning Portal can be found at www.ifsb.org.
The Secretary-General added, "I am pleased to thank the Asian Development Bank for its provision of Technical Assistance support to establish the E-Learning modules, and to the Government of the Republic of Korea for the funding."
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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, market players, professional firms and industry associations. For more information about the IFSB, please visit www.ifsb.org.
© Press Release 2015
