A workshop for the implementation of banking standards issued by the Islamic Financial Services Council

April 10, 2019


The Iraqi Central Bank in Baghdad hosted a workshop on the implementation of banking standards issued by the Islamic Financial Services Council (IFSB), from 7-9 April 2019, in the presence of a delegation of members of the Islamic Financial Services Board. The workshop focused on the following criteria:
Standard No. 15: Revised Capital Adequacy Standard for Institutions offering Islamic Financial Services.
Guiding Principles No. 3: Guidelines for Payment Support Practices for Investment Account Holders.
Guiding principles 4: Capital adequacy guidelines: Determination of the "alpha" factor in the capital adequacy ratio.
Guideline 6: Quantitative measures for liquidity risk management.
The workshop aims at enhancing the participants' understanding of the standards and guidelines issued by the Islamic Financial Services Council, assisting the participants in practical application of the issues addressed by the standards, and encouraging the exchange of experiences among participants on the implementation of the standards and guidelines issued by the Islamic Financial Services Council.
The workshop was held for the first time in Iraq in the presence of members and trainers of the Islamic Financial Services Council based in the Malaysian capital Kuala Lumpur, which was established in 2002, and the Central Bank of Iraq has full membership in this Council.
Tuesday 9 April


https://cbi.iq/news/view/1065

The Central Bank hosts a workshop to implement the standards issued by the Islamic Financial Services Council
Banks

Economy News - Baghdad

The Iraqi Central Bank in Baghdad hosted a workshop on the implementation of banking standards issued by the Islamic Financial Services Council (IFSB), from 7-9 April 2019, in the presence of a delegation of members of the Islamic Financial Services Board.

"The focus of this workshop was on Standard No. 15, the amended standard for capital adequacy for institutions offering Islamic financial services, and guidance on profit-support practices for investment account holders," the central bank said in a statement.

"The workshop also focused on guidance on the capital adequacy standard: determining the alpha factor in the capital adequacy ratio, and guidelines No. 6: quantitative measures to manage liquidity risk."

"The workshop aims at enhancing the participants' understanding of the standards and guidelines issued by the Islamic Financial Services Council, assisting the participants in the practical application of the issues addressed by the standards, and encouraging exchange of experiences among participants on the implementation of the standards and guidelines issued by the Islamic Financial Services Council."

The workshop was held for the first time in Iraq in the presence of members and trainers of the Islamic Financial Services Council based in the Malaysian capital Kuala Lumpur, which was established in 2002, and the Central Bank of Iraq has full membership in this Council.



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