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Governor of Central Bank of Jordan to Deliver Keynote: IFSB Seminar On Risks, Rewards and the Role of Regulation in Islamic Investments in Real Estate

Dr Umayya Toukan, Governor Central Bank of Jordan

Dr Umayya Toukan, Governor Central Bank of Jordan

Kuala Lumpur, December 20, 2006 – His Excellency Dr. Umayya Toukan will address delegates of the Seminar on Risks, Rewards and the Role of Regulation in Islamic Investments in Real Estate, which will be held on 13th February 2007 in Amman. The Central Bank of Jordan is hosting the Seminar organized by the Islamic Financial Services Board (IFSB).

The investment and financing by institutions offering Islamic financial services (IIFS) in the real estate sector have given rise to complex regulatory issues which need to be widely discussed by various interested parties before the IFSB sets guidelines for the risk management of these activities.

The Seminar on Risks, Rewards and the Role of Regulation of Islamic Investments on Real Estate is addressed to regulators, financial institutions, analysts, consultants and academicians and will focus on:
• Selected current practices and aspects related to the involvement of IIFS in the real estate sector
• Management of real estate portfolios
• Supervisory issues arising from the involvement of IIFS in real estate activities

More details of the Seminar is available on the Seminar website www.ifsbrealestate2007.com

The Islamic Financial Services Board (IFSB) , which is based in Kuala Lumpur, was officially inaugurated on 3rd November 2002 and started operations on 10th March 2003. It serves as an international-standard setting body of regulatory and supervisory agencies that have vested interest in ensuring the soundness and stability of the Islamic financial services industry, which is defined broadly to include banking, capital market and insurance. In advancing this mission, the IFSB promotes the development of a prudent and transparent Islamic financial services industry through introducing new, or adapting existing international standards consistent with Islamic Shari'ah principles, and recommend them for adoption. To this end, the work of the IFSB complements that of the Basel Committee on Banking Supervision, International Organization of Securities Commissions and the International Association of Insurance Supervisors.

Malaysia, the host country of the IFSB, has enacted a law known as the Islamic Financial Services Board Act 2002, which gives the IFSB the immunities and privileges that are usually granted to international organisations and diplomatic missions.

Siham Ismail
Tel: 6 03 2698 4248 ext 119
Fax: 6 03 2698 4280
Email: siham@ifsb.org

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