openPR Logo
Press release

“The Future of Islamic Financial Services” is the theme for 6th IFSB Summit

www.ifsbsingapore2009.com

www.ifsbsingapore2009.com

Kuala Lumpur, January 29, 2009 – The Islamic Financial Services Board (IFSB) is organising the 6th IFSB Summit on 5 – 8 May 2009 in Singapore. The Monetary Authority of Singapore is hosting this Summit, which is the first IFSB Summit to be held in Asia. The theme of the Summit is “The Future of Islamic Financial Services”.

Professor Rifaat Ahmed Abdel Karim, Secretary-General of the IFSB said, “This theme is both timely and important, given the rapid projected growth of the Islamic financial services industry (IFSI), and the recent developments in the global financial markets. The latter is expected to pose a challenge, inter alia, on the IFSI stakeholders. Whilst the current IFSI structure is considered sufficient to support the industry’s development, it is necessary to examine whether this structure will continue to be relevant to cater for the future growth and expansion of the industry. More importantly, whether the industry can remain competitive and continue to uphold its resilience and stability as the services and products it offers expand and its stakeholders become increasingly sophisticated.”

The Summit aims to address these issues as well as highlight the role of the stakeholders towards developing a robust future for the IFSI. The five sessions of the Summit will cover the following topics:
- The Islamic financial services landscape
- Competitive strategies of Islamic financial services industry
- Role of Non-banks financial institutions in the future of Islamic finance
- Direction of regulatory policies
- Direction of development policies

The 6th IFSB Summit will be a four-day event. The two-day Summit, held on 7 & 8 May 2009, is preceded by the following two Pre-Summit events:

1. 5th May 2009: Public Hearing on IFSB Exposure Drafts (ED) 8, 9 and 10
ED8 : Guiding Principles on Governance for Islamic Insurance (Takaful) Operations
ED9 : Conduct of Business for Institutions offering Islamic Financial Services
ED10 : Guiding Principles on Shari`ah Governance System

2. 6th May 2009: IFSB Country Showcases

For more information on participation and sponsorship of the Summit, please visit www.ifsbsingapore2009.com / email: ifsb_sec@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.

To this end, the work of the IFSB complements that of the Basel Committee on Banking Supervision, International Organisation of Securities Commissions and the International Association of Insurance Supervisors.

For more information on the IFSB, please visit www.ifsb.org

Siham Ismail
Islamic Financial Services Board
Malaysia
Email: siham@ifsb.org
Tel: + 603 2698 4248 ext.119

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release “The Future of Islamic Financial Services” is the theme for 6th IFSB Summit here

News-ID: 66398 • Views:

More Releases from Islamic Financial Services Board (IFSB)

IFSB, IDB-IRTI and UKTI cooperate in organising a Conference on Emerging Financi …
Kuala Lumpur, May 20th, 2009 – The Islamic Financial Services Board, Islamic Development Bank and Islamic Research and Training Institute will be organising a Conference on Emerging Financial Stability Framework on 1st July in London, which the United Kingdom Trade and Investment is hosting. The one-day Conference aims to highlight and discuss various regulatory and supervisory issues arising from emerging initiatives undertaken in establishing a framework for the financial stability
IFSB promulgates international prudential standards to address specificities of …
Point Aux Piments (Mauritius), May 19th, 2009 – "The Islamic Financial Services Board has promulgated standards which address issues related to Islamic capital markets, namely governance for Islamic collective investment schemes, conduct of business and Sharî`ah governance". Rifaat Ahmed Abdel Karim, Secretary-General of the Islamic Financial Services Board (IFSB) said in the Seminar on Islamic Capital Markets in Mauritius today. The Seminar is hosted by the Bank of Mauritius and
Sixth Islamic Financial Services Board Summit: Stakeholders state commitment to industry’s continued soundness and stability
Sixth Islamic Financial Services Board Summit: Stakeholders state commitment to …
Singapore, 7th May 2009 - The Sixth Annual Summit of the Islamic Financial Services Board (IFSB) begins today in Singapore with leading figures in the Islamic financial services industry pointing out the unique features of Islamic finance which may contribute to resilience and depth in the global financial system. They also stated their firm commitment to its continued soundness and stability taking account of the possible changes in the global
Islamic Financial Services Board to hold its first annual Summit in South East A …
Kuala Lumpur, 13 April 2009 - The upcoming 6th Annual Summit of the Islamic Financial Services Board (IFSB) will be held on 7th – 8th May 2009 in Singapore under the patronage of Singapore's Senior Minister, Goh Chok Tong. The Summit, timely themed The Future of Islamic Financial Services, takes place amid the current challenges and issues facing the global financial market. The Monetary Authority of Singapore is hosting the

All 5 Releases


More Releases for IFSB

IFSB to hold Seminar on Prudential and Governance Framework for Islamic Finance
Kuala Lumpur, April 9, 2009 – The Islamic Financial Services Board (IFSB) and the Qatar Faculty of Islamic Studies (QFIS) are jointly organising a Seminar on Prudential and Governance Framework on 15 – 16 April 2009 in Doha, which the Qatar Central Bank is hosting. Professor Rifaat Ahmed Abdel Karim, Secretary-General of the IFSB, said “The IFSB believes that a strong prudential and governance framework is a key requirement for
IFSB adopts two new prudential standards for the Islamic financial services indu …
Kuala Lumpur, November 4, 2008 – In its' 13th meeting on 29 October 2008, held in Dubai, UAE, the Council of the Islamic Financial Services Board (IFSB)approved the adoption of two exposure drafts as Standards. These are: 1.Capital Adequacy Requirements for Sukuk Securitisation and Real Estate Investment 2.Guiding Principles on Governance for Islamic Collective Investment Scheme  Both documents will be available for download from the IFSB website by the end of 2008.  The meeting was chaired by H.E. Dr.
IFSB General Assembly appoints chairman and deputy chairman for 2009
Hamad Al-Sayari, Governor of the Saudi Arabian Monetary Agency appointed as the 7th Chairman of the General Assembly of the Islamic Financial Services Board (IFSB) for the annual term 2009. - Dr. Sabir Mohamed Hassan, Governor of the Central Bank of Sudan appointed as Deputy Chairman. Jeddah, March 26, 2008 – In its 6th meeting held at the Islamic Development Bank’s (IDB) headquarters in Jeddah, the General Assembly of the
IFSB introduces FIS Workshop Series to facilitate implementation of its Standard …
Kuala Lumpur, September 28, 2007 – The Islamic Financial Services Board (IFSB) is introducing a specially designed “Facilitating the Implementation of Standards (FIS) Workshop Series” as part of its efforts to facilitate the implementation of IFSB Standards among member countries. The Workshop series, focusing on the IFSB Capital Adequacy and Transparency & Market Discipline Standards, will initially be held in selected member countries, including Bahrain, Pakistan and Sudan from
Syria and Djibouti Authorities Join the IFSB - IFSB membership increases to 126
Kuala Lumpur, March 26, 2007 – The Council of the IFSB admitted 16 new members to the IFSB in its 10th meeting on Monday, 26 March 2007, bringing the total of IFSB members to 126. The meeting was chaired by Governor Bank Negara Malaysia, Dr. Zeti Akhtar Aziz, and was attended by all IFSB Council members, including 9 central bank governors, the President of the Islamic Development Bank and six
Bank Negara Malaysia hosts IFSB Annual Meetings in Kuala Lumpur
The 10th Meeting of the Council of the Islamic Financial Services Board (IFSB) will be held on 26th March 2007 at the Kuala Lumpur Convention Centre (KLCC). Dr. Zeti Akhtar Aziz, Chairperson of the IFSB and Governor Bank Negara Malaysia, will chair the high level meeting to be attended by 11 central bank’s governors, President of the Islamic Development Bank, 2 deputy governors and 2 governor’s representatives. • The