Islamic Financial Services Board (IFSB) - Joint Seminar on Corporate Governance Issues in Islamic Finance

Kuala Lumpur, February 6, 2008 – The Islamic Financial Services Board, the World Bank Group Corporate Governance Department, and the IFC Global Corporate Governance Forum are organising a collective Seminar on Corporate Governance Issues in Islamic Finance. The two-day Seminar will be hosted in Manama by the Central Bank of Bahrain on March 11 to 12, 2008.

The Seminar aims to access acquaintance of accumulated babyminding issues in Islamic finance, including banking, insurance, and basic markets (particularly aggregate investment schemes), a allotment of banking regulators and bazaar participants. It will be structured about the accumulated babyminding standards that were developed by the Islamic Financial Services Board, with insights from authoritative officials, accumulated babyminding specialists from all-embracing multilateral agencies, and industry practitioners.

H.E. Rasheed Mohammed Al Maraj, Governor of the Central Bank of Bahrain, and Professor Rifaat Ahmed Abdel Karim, Secretary General of the Islamic Financial Services Board, will bear the aperture and affable remarks.

Peter Dey, Chairman of the Forum’s Private Sector Advisory Group, will bear a keynote abode on the Cross-Sectoral Approach against Good Governance. Dey served as administrator of the Toronto Stock Exchange Committee on Corporate Governance in Canada, which appear a address advantaged "Where Were the Directors?" (also accepted as the Dey Report) in December 1994. He will be abutting by 20 added speakers.

The Seminar’s capital objectives are to:

• Highlight accumulated babyminding issues specific to institutions that action Islamic banking casework and to advice regulators and bazaar participants advance their compassionate of these, abnormally as the Islamic banking casework industry continues to abound rapidly aural the all-around banking system.

• Provide stakeholders an befalling to barter angle and acquaintance about acceptable babyminding frameworks and best practices.

• Generate altercation and action recommendations about deepening and convalescent the accumulated babyminding of institutions that action Islamic banking services, in accordance with internationally acclimatized standards.

Those absorbed in accessory the academy can download the allotment anatomy from www.ifsb.org.

List of Confirmed Chairpersons and Speakers

1. H.E. Rasheed Mohammed Al Maraj, Governor, Central Bank of Bahrain
2. Professor Rifaat Ahmed Abdel Karim, Secretary General, Islamic Financial Services Board
3. H.E. Dr. Anwar Khalifa. Al-Sadah, Deputy Governor, Central Bank of Bahrain
4. Peter Dey, Chairman of Paradigm Capital Inc. & GCGF Private Sector Advisory Group
former Head of Morgan Stanley Canada
former Chair of the Toronto Stock Exchange Committee on Corporate Governance
6. Professor Volker Nienhaus, President, Universität Marburg Germany & IFSB Consultant
7. Wafik Grais, Senior Advisor, Financial Strategies and Policies, the World Bank
8. Sebastian Molineus, ROSC Assessment and Policy Practice, Corporate Governance Dept., World Bank Group
9. Hiro Tsubota, Regional Financial Officer, Poverty Reduction and Economic Management Sector Unit, East Asia and Pacific Region, the World Bank
10. Professor Samy Nathan, Professor of Accounting and Finance, New York Institute of Technology, Bahrain
11. Khalid Al-Bassam, Chairman, Bahrain Islamic Bank, Bahrain
12. Nada Abdelsater-Assamra, Board Member, the Lebanese Transparency Association, Lebanon
13. Sohail Jaffer, Partner, FWU Group, Luxembourg
14. Hamid Yunis, Partner, Taylor Wessing, UK
15. Ahmed Adil, Partner, Ernst & Young, Bahrain
16. Paul Lee, Director, Hermes Equity Ownership Service
17. Stilpon Nestor, Principal, Nestor Advisors Limited, UK
18. Madhukar Shenoy, Financial Services Partner, PricewaterhouseCoopers, Bahrain
19. Dr. Nasser H. Saidi, Executive Director, Hawkamah Institute for Corporate Governance, DIFC, UAE
20. Anne Simpson, International Corporate Governance Network, UK
21. Dr. Hamid Alamin Ahmed, General Manager, Al Rowad Financial Services, Sudan
22. Professor Simon Archer, Consultant, IFSB
23. Madzlan Mohamad Hussain, Senior Project Manager, IFSB

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

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 standards able by the IFSB chase a diffuse due action as categorical in its Guidelines and Procedures for the Preparation of Standards/Guidelines, which involves, a allotment of others, the arising of acknowledgment drafts, captivation of workshops and, area necessary, accessible hearings. 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.