The IFSB organises workshop on Takaful in Malaysia

Kuala Lumpur: The Islamic Financial Services Board (IFSB) is organizing a Facilitating the Implementation of the IFSB Standards (FIS) Workshop in Kuala Lumpur, Malaysia on 29-31 October 2019. This workshop is tailored for the regulatory and supervisory authorities for the Takaful sector.

The 3-day Workshop will focus on the following IFSB Standards:

• Introduction to Takaful (Islamic Insurance)
• IFSB-8: Guiding Principles on Governance for Takaful Undertakings;
• IFSB-10: Guiding Principles on Shari’ah Governance Systems for IIFS;
• IFSB-11: Standard on Solvency Requirements for Takaful Undertakings;
• IFSB-14: Standard on Risk Management for Takaful Undertakings);
• IFSB-18: Standard on Risk Management for Takaful Undertakings); and
• IFSB-20: Key Elements in the Supervisory Review Process of Takaful / Retakaful Undertakings

Overall, the Workshop aims to:

• Enhance the participants’ understanding of the respective Standards and Guiding Principles thereby facilitating the implementation of these standards in their respective jurisdictions;
• Assist the participants in the practical application of issues addressed in the particular standards through case studies, hands-on exercises and other interactive tools; and
• Promote the sharing of experiences among the participants on the implementation of respective IFSB Standards and Guiding Principles.

The FIS Workshops are a part of the IFSB’s support to its members based on the Strategic Key Result Area 2 (SKRA 2) on the Facilitating the Implementation of Prudential Standards and Capacity Development under the IFSB’s Strategic Performance Plan (SPP) 2019-2021”, to assist member organisations in adopting and implementing the IFSB Standards.

For enquires on IFSB workshops and membership services, please contact the IFSB Secretariat at ifsb_sec@ifsb.org.

For registration, https://www.ifsb.org/register_online.php?act=addnew&e_id=405.

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About the Islamic Financial Services Board (IFSB)

The IFSB is an international standard-setting organisation that promotes and enhances the soundness and stability of the Islamic financial services industry by issuing global prudential standards and guiding principles for the industry, broadly defined to include banking, capital markets, and insurance sectors. The IFSB also conducts research and coordinates initiatives on industry-related issues, as well as organises roundtables, seminars and conferences for regulators and industry stakeholders. Towards this end, the IFSB works closely with relevant international, regional and national organisations, research/educational institutions, and market players. The members of the IFSB comprise regulatory and supervisory authorities, international inter-governmental organisations, market players, professional firms and industry associations. For more information about the IFSB, please visit www.ifsb.org 

© Press Release 2019