IFSB organises public hearing on Exposure Draft for Revised Capital Adequacy Standard [Banking Segment]

Kuala Lumpur, 3 December 2019 - The Islamic Financial Services Board (IFSB) had successfully organised its Public Hearing on the Exposure Draft Revised Capital Adequacy Standard for Institutions offering Islamic Financial Services [Banking Segment] (Exposure Draft – 23) on 28 November 2019 alongside a workshop hosted by the Arab Monetary Fund (AMF).

This Public Hearing is held within the Public Consultation period of the document as part of the IFSB due process for the development of standards and guiding principles as outlined in the IFSB Guidelines and Procedures for the Preparation of Standards/Guidelines.

A total of 45 people representing 22 Central Banks, participated in the public hearing and the IFSB received constructive feedback from the participants which will enhance Exposure Draft-23. The IFSB were represented by Dr. Bello Lawal, Danbatta, the Secretary-General of the IFSB, Sani Tazara Muhammad, the Project Manager for Exposure Draft – 23 and Prasanna Seshachellam, the IFSB Consultant. The AMF was represented by Dr. Mohamed Adawi, Director of Banking Institutions.