IFSB and FSI organise 2nd Forum on The European Challenge in Islamic Financial Services in Frankfurt, Germany

The Islamic Financial Services Board (IFSB) and the Financial Stability Institute (FSI) of the Bank for International Settlements are organising the 2nd Forum on Islamic Financial Services Forum: The European Challenge on 5 & 6 December 2007 in Frankfurt, Germany. Deutsche Bundesbank is supporting the Forum.

The 2nd “European Challenge” Forum is organised in response to the increasing interest shown in Islamic financial services within and among European nations. The Forum will touch on the overview of the Islamic financial services industry as well as the different approaches towards its’ implementation across the globe. On a more global perspective, the Forum will also serve as a platform to discuss the development of related global prudential regulations for the Islamic financial services industry developed by the IFSB in comparison to Basel II.

Secretary General of the IFSB, Professor Rifaat Ahmed Abdel Karim, commenting on the importance of holding a Forum that caters for the European market said “It is important for the IFSB to understand the different regional markets in our efforts to facilitate the sound and stable growth of the Islamic financial services industry at global level. This Forum aims to be an interactive platform for facilitating a better understanding of the Islamic financial services industry from a European perpective.”

This Forum follows the success of the inaugural Forum which was held in Luxembourg in November 2005. The 1st Forum was supported by the Centrale Banque Du Luxembourg and attended by over 150 delegates from 26 countries. This 2nd Forum is expected to attract participants from among senior supervisors, finance officers, financial analysts, compliance officers, accountants, auditors, retail andp private bankers, investment advisors, lawyers and academicians.

More information on the Forum is avaialable at www.ifsb.org/frankfurt

Siham Ismail
Marketing Communications
Islamic Financial Services Board
www.ifsb.org
tel: 6 03 2698 4248 ext 199
fax: 6 03 2698 4280
email: siham@ifsb.org

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 Shari'ah principles, and recommend them for adoption.

The 125 members of the IFSB include 33 regulatory and supervisory authorities as well as International Monetary Fund, World Bank, Bank for International Settlements, Islamic Development Bank, Asian Development Bank, and 87 financial institutions and professional firms operating in 22 jurisdictions.

This release was published on openPR.