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Iraqi Private Banks Association concludes the course «Liquidity instruments in Islamic banks according to IFSB standards» DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

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Iraqi Private Banks Association concludes the course «Liquidity instruments in Islamic banks according to IFSB standards»

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Iraqi Private Banks Association concludes the course «Liquidity instruments in Islamic banks according to IFSB standards» Empty Iraqi Private Banks Association concludes the course «Liquidity instruments in Islamic banks according to IFSB standards»

Post by claud39 on Thu Sep 26, 2019 11:54 am

Iraqi Private Banks Association concludes the course «Liquidity instruments in Islamic banks according to IFSB standards»


26/09/2019





Iraqi Private Banks Association concludes the course «Liquidity instruments in Islamic banks according to IFSB standards» 17335



Economy News _ Baghdad

The Association of Iraqi Private Banks, in cooperation with the Central Bank of Iraq and the Joint Efforts Group, concluded on Thursday, the session «liquidity instruments in Islamic banks in accordance with the standards of IFSB», with the participation of a number of government and private banks.

The director of administration and training in the Association of Iraqi private banks, Ahmed al-Hashemi, at the closing ceremony of the session, attended by "Economy News", "The session targeted employees in the risk management department and treasury department staff and the staff of the accounting management department," noting that the participants were able to see The latest systems and programs used in international banks.

Hashemi added, "There is one working group formed by the Association of Iraqi and private banks and the Central Bank of Iraq to establish development courses for the Iraqi banking sector," adding that the plan developed by the Association of Banks with the Central Bank aimed at the division of training in various stages.





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Iraqi Private Banks Association concludes the course «Liquidity instruments in Islamic banks according to IFSB standards» Empty Re: Iraqi Private Banks Association concludes the course «Liquidity instruments in Islamic banks according to IFSB standards»

Post by claud39 on Thu Sep 26, 2019 12:02 pm

Iraqi Private Banks Association concludes the course «Liquidity instruments in Islamic banks according to IFSB standards» Logo_ifsb



Defining New Standards in Islamic Finance


The Islamic Financial Services Board (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.


The IFSB Mandate and Organisational Objectives The IFSB was established in 2002 and started operations in 2003. The mandate of the IFSB is to “promote the stability and resilience of the Islamic financial services industry through the issuance, and facilitating the implementation, of global prudential standards and other initiatives that foster knowledge sharing and cooperation.” 

Article 4 of the IFSB’s Articles of Agreement (AoA) states the Objectives of the IFSB as an organisation as:


(a) To promote the development of a prudent and transparent Islamic financial services industry through introducing new, or adapting existing, international standards consistent with Sharīʿah principles, and recommend these for adoption. 

(b) To provide guidance on the effective supervision and regulation of institutions offering Islamic financial products and to develop for the Islamic financial services industry the criteria for identifying, measuring, managing and disclosing risks, taking into account international standards for valuation, income and expense calculation, and disclosure.

 (c) To liaise and cooperate with relevant organisations currently setting standards for the stability and the soundness of the international monetary and financial systems and those of the member countries.

 (d) To enhance and coordinate initiatives to develop instruments and procedures for efficient operations and risk management.

 (e) To encourage cooperation amongst member countries in developing the Islamic financial services industry.

 (f) To facilitate training and personnel development in skills in areas relevant to the effective regulation of the Islamic financial services industry and related markets.

 (g) To undertake research into, and publish studies and surveys on, the Islamic financial services industry.

 (h) To establish a database of Islamic banks, financial institutions and industry experts. 

(i) Any other objectives which the General Assembly of the IFSB may agree from time to time.




https://www.ifsb.org/
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Iraqi Private Banks Association concludes the course «Liquidity instruments in Islamic banks according to IFSB standards» Empty The IFSB Database Disseminates Data for Islamic Banking Systems in Member Countries, including Libya for the First Time

Post by claud39 on Thu Sep 26, 2019 12:11 pm

The IFSB Database Disseminates Data for Islamic Banking Systems in Member Countries, including Libya for the First Time


Iraqi Private Banks Association concludes the course «Liquidity instruments in Islamic banks according to IFSB standards» Logo_ifsb



 18 September 2019, Kuala Lumpur, Malaysia – 

The Islamic Financial Services Board (IFSB) is pleased to announce the dissemination of country-level data on financial soundness and growth of the Islamic banking systems for Q1 of 2019 from IFSB member jurisdictions. This 13th dissemination completes the availability of quarterly data from Q4 of 2013 to Q1 of 2019, and is part of the IFSB’s Prudential and Structural Islamic Financial Indicators (PSIFIs) project.

 This PISIFIs project currently compiles data from Afghanistan, Bahrain, Bangladesh, Brunei, Egypt, Indonesia, Iran, Jordan, Kazakhstan, Kuwait, Lebanon, Libya, Malaysia, Nigeria, Oman, Pakistan, Palestine, Qatar, Saudi Arabia, Sudan, Turkey, the United Arab Emirates and the United Kingdom. A special feature of this dissemination is the inclusion of full-fledged Islamic banking data of Libya for the first time after completing several compilation exercises with Islamic banking data of Libya before this dissemination.

The Secretary-General of the IFSB, Dr. Bello Lawal Danbatta stated, “the PSIFIs project for the Islamic banking sector has reached an advanced and sustainable stage with coverage of over 95% of global Islamic banking activities.” IFSB has achieved this level of data compilation and dissemination as a result of the strong support from the Task Force members of the participating member jurisdictions who are regularly compiling and submitting the PSIFIs data.
 Acknowledging their contribution, Dr. Bello further added, “IFSB Secretariat expects continued support from the Task Force members of newly joined jurisdictions to implement the new Medium-Term Plan (2020-2022) for PISIFIs project, targeting to start dissemination of data for Islamic insurance (takāful) and Islamic capital market (ICM) sectors.” Dr. Bello also mentioned, “new actions would be taken under the new Medium-Term Plan in order to increase the utilisation of PSIFIs data.”
The IFSB Task Force on PSIFIs – comprising representatives from 24 participating jurisdictions - has been greatly facilitating the collection of Islamic banking data. A total of six regulator and supervisory authorities (RSAs) from takāful sector and four RSAs from Islamic capital markets have joined the database project to compile PSFIs database for respective sector.
 The IFSB Secretariat has been regularly conducting capacity building workshops/meetings with the country representatives of the Task Force, where three international organisations – the International Monetary Fund (IMF), Islamic Development Bank (IDB) and the Asian Development Bank (ADB) – are also the members, focusing on enhanced clarity and consistency of reporting indicators across jurisdictions.

The PSIFIs Database (full set of data with metadata) is available on the PSIFIs portal at the IFSB website https://psifi.ifsb.org.

https://www.ifsb.org/preess_full.php?id=489&submit=more
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