Islamic Financial Services Board (IFSB) - IFSB Hearings to Discuss Capital Requirements for Sukūk Securitisations and Realty Investments & Islamic CIS

5th IFSB Summit will be captivated in Amman, JordanStore this angel in big sizeKuala Lumpur, 4 May 2008 – As affairs for the 5th Annual Islamic Financial Services Board (IFSB) Summit on 13-14th May 2008 at the InterContinental Hotel in Amman, Jordan accumulate drive with the accepted accord of nine axial banks’ governors, the IFSB is aswell convening two pre-summit Public Hearings on 12th May 2008 in the Jordanian basic on basic adequacy requirements for Sukūk securitisations and absolute acreage investments and accumulated babyminding on Islamic aggregate investment schemes.

The Capital Adequacy Requirements for Sukūk Securitisations and Real Estate Investment deals with aspects of authoritative basic requirements for institutions alms Islamic banking casework (IIFS) in account of Sukūk that are not covered in the IFSB Capital Adequacy Standard. These include:

1. basic requirements for IIFS that are holders of Sukūk; and
2. basic analysis of the exposures of an IIFS area it is, or acts in a accommodation such that it is advised to be, the artist of a Sukūk issue, or as an issuer or servicer of a Sukūk issuance.

On absolute acreage investment, the Exposure Draft deals primarily with:

1. basic requirements for an IIFS that invests its own funds in absolute acreage investment activities; and
2. basic analysis of exposures in absolute acreage investment activities area an IIFS either commingles the funds of investment anniversary holders with those of shareholders (and added non-profit-sharing investment anniversary holders) or contrarily invests the funds of complete investment anniversary holders.

The Guiding Principles on Governance for Islamic Collective Investment Schemes aims to accompaniment IFSB Guiding Principles on Corporate Governance and added internationally recognised babyminding standards, by reinforcing all-embracing best practices while acclamation the specificities in the babyminding of Islamic Collective Investment Schemes.

The 5th IFSB Summit, which is organised beneath the Royal Patronage of Her Highness Queen Rania Al-Abdullah of Jordan and on the affair Financial Globalisation and Islamic Financial Services, will aswell advertise the Islamic accounts initiatives of three IFSB affiliate countries.

Hong Kong, Malaysia and Singapore will advertise their initiatives and adventures in adopting and announcement the advance of a complete and abiding Islamic banking casework industry. The country exhibitions will accommodate investors, top executives, chief management, banking industry players, advisers and academics with a added abstruse compassionate of their corresponding policies, regulations, acknowledged requirements and adopted investment incentives regime. As such, they are an accomplished befalling for networking and aperture doors to abeyant investments and business partnerships.

The IFSB, accustomed in November 2002, is a trans-national standard-setting organisation whose authorization is to advance and enhance the acumen and adherence of the Islamic banking casework industry by arising prudential and authoritative standards and allegorical attempt for the all-around Islamic accounts industry, broadly authentic to cover banking, basic markets and allowance sectors.

The Secretary-General of the IFSB, Professor Rifaat Ahmed Abdel Karim, is assured that the all-around perspectives on Islamic accounts presented by the regulators and industry practitioners will accord to greater compassionate of Islamic accounts as a applicable anatomy of intermediation that promotes the advance of absolute bread-and-butter activities calm with amusing justice, as able-bodied as highlight the challenges, issues and opportunities in the addition of Islamic accounts in assorted markets.

The IFSB Summit will altercate assorted appropriate capacity which include: ‘Globalisation of Islamic Financial Services: Opportunities and Challenges’; ‘Cross-border Capital Flows, including the Size and Patterns of such Flows, and the Role of Islamic Capital Markets in Facilitating such Flows’; ‘Key issues in Regional Integration of Islamic Financial Markets, including Islamic Capital Markets – Promotion and the Catalytic Role of Governments’; ‘Standardisation, Harmonisation, Mutual Recognition and Exchange Market Cooperation to Develop National Islamic Capital Markets and their Regional and Global Integration.’; and The Way Forward in Financial Globalisation and Islamic Financial Services.

The Summit has admiring a assembly of top regulators, area experts and bazaar players from a assorted geographic and institutional background. As such, the IFSB Summit is a must-attend for all those complex and absorbed in Islamic banking casework – government departments and agencies; authoritative authorities, all-embracing agencies, bazaar players, investors, end-users, academics, affiliated casework such as appraisement agencies, law firms, accountants and auditing firms, consultants, and abreast lay people.

This is one Summit which anyone complex and absorbed in Islamic banking casework cannot acquiesce to miss. It aswell offers a different befalling to collaborate with those who are amenable for ambience Islamic accounts authoritative and authoritative behavior in key markets and to arrangement with key practitioners, Sharī`ah advisories and added players!

For added advice and allotment details, amuse appointment www.ifsbamman2008.com or contact:
Ms Farrah Aris
Email: farrah@ifsb.org
Tel: + 603 2698 4248 ext 116
Fax: + 603 2698 4280

Siham Ismail
Marketing Communications
Islamic Financial Services Board
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 currently has 164 associates absolute 41 banking, balance and allowance authoritative and authoritative authorities, 6 all-embracing inter-governmental organisations and 117 bazaar players and able firms from over 31 jurisdictions.

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