2009年12月16日星期三

Islamic Financial Services Board (IFSB) - The IFSB Council adopts two abstracts for the Islamic banking casework industry

Kuala Lumpur, 1st April 2008 – In its 12th affair captivated at the Islamic Development Bank’s (IDB) address in Jeddah on March 26th 2008, the Council of the Islamic Financial Services Board (IFSB) bound to accept two abstracts that aim to added facilitate efforts appear acceptable the acumen and adherence of the Islamic banking casework industry. The two abstracts are:

• Guidance Note in Connection with the Capital Adequacy Standard: Recognition of Ratings by External Credit Assessment Institutions (ECAI) on Shari’ah-Compliant Financial Instruments (Guidance Note).

• Technical Note on Issues in Strengthening Liquidity Management of Institutions Offering Islamic Financial Services: The Development of Islamic Money Markets (Technical Notes).

Guidance Note in Connection with the Capital Adequacy Standard: Recognition of Ratings by External Credit Assessment Institutions (ECAI) on Shari’ah-Compliant Financial Instruments (Guidance Note).

The Guidance Note aims to accompaniment absolute all-embracing guidelines and to accommodate advice to civic authoritative authorities. It’s cold is to outline belief which the IFSB recommends civic admiral crop into anniversary if chargeless which External Credit Assessment Institutions (ECAIs) or added frequently accepted as appraisement agencies may accept their ratings acclimated to account basic adequacy ratios beneath the IFSB’s December 2005 Capital Adequacy Standard.

The IFSB trusts that the Guidance Note, which was ahead issued for a three-month accessible appointment period, will advance a added agitation on key credibility of appraisement alignment for Shari’ah-compliant instruments. In developing this Guidance Note, the IFSB has benefited from discussions with authoritative and authoritative authorities, appraisement agencies and bazaar participants in assorted IFSB workshops on ratings appraisal issues captivated in 2003, 2006 and 2008.

The Council accustomed the Guidance Note and recommended its acceptance a allotment of associates of the IFSB.

Technical Note on Issues in Strengthening Liquidity Management of Institutions Offering Islamic Financial Services: The Development of Islamic Money Markets (Technical Notes)

The Technical Notes aim to abode the afterward analytical apparatus of the systemic clamminess basement by absorption on:
• budgetary operations application tradable Islamic money bazaar instruments;
• accessible debt and costs administration operations that supply, in acceptable aggregate and on anticipated schedule, tradable government Islamic accounts instruments;
• adapted trading and bazaar micro-structure for these instruments; and
• associated transaction adjustment arrangement that fulfils the requirements of Shari’ah.

The Council of the IFSB accustomed the Technical Notes.

The 12th affair of the IFSB Council was chaired by H.E. Dr. Shamshad Akhtar, Governor of the State Bank of Pakistan, and abounding by 13 axial banks’ governors, 3 governors’ assembly and the President of the IDB. It was followed by the IFSB General Assembly.

Both abstracts will be accessible from the IFSB website www.ifsb.org

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

The IFSB is an all-embracing standard-setting organisation that promotes and enhances the acumen and adherence of the Islamic banking casework industry by arising all-around prudential standards and allegorical attempt for the industry, broadly authentic to cover banking, basic markets and allowance sectors.

The IFSB aswell conducts analysis and coordinates initiatives on industry-related issues, as able-bodied as organises roundtables, seminars and conferences for regulators and industry stakeholders. Towards this end, the IFSB works carefully with accordant international, bounded and civic organisations, research/educational institutions and bazaar players.

For added advice about the IFSB, amuse appointment www.ifsb.org

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