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.

The Exposure Draft, which is available for download from the IFSB website, were issued on 4 November 2019. Public feedback or comments are welcomed before the public consultation ends on 2 January 2020.  A Webinar (Web Seminar) will be held on 17 December 2019, participation in the Webinar is free and open to all. A Roundtable on the Exposure Draft will also be held on 13 December 2019 in Kuala Lumpur, Malaysia.

Copyright Press Releases 2019