Riyadh, SPA -- On Monday, a workshop on "Capacity Building for the Banking Sector" was organized by the Saudi Central Bank (SAMA) in collaboration with the Islamic Financial Services Board (IFSB) during the IFSB annual meetings. The workshop aimed to discuss the developments in the Islamic financial sector and strengthen the resilience and stability of the Islamic financial services industry.

The workshop saw the participation of over 40 experts from the Islamic financial services industry. The first session delved into the "Islamic Window Operations from the Perspective of the IFSB's standards." Key topics addressed included Islamic Window activities, capital adequacy, liquidity management, and disclosure requirements for Islamic window operations. The second session centered around the "Shariah Governance Framework from the Perspective of the IFSB's standards."

Discussion topics included the guiding principles of Shariah governance systems for Islamic financial services providers and the structure and components of the Shariah governance system.

It is noteworthy that the IFSB 2023 annual meetings will be held in Riyadh, with Ayman Al-Sayari, Governor of SAMA and Chairman of the IFSB's Board Council, serving as the chair. The annual meetings will include the 42nd IFSB Council Meeting and the 21st General Assembly, which will be attended by governors and council members.