EVENTS - IFSB SUMMIT - Industry Leaders Discuss the Impact of Global Regulatory Reforms on the Islamic Financial Services Industry

www.ifsb.org -  Industry Leaders Discuss the Impact of Global Regulatory Reforms on the Islamic Financial Services Industry  Istanbul, 17 May 2012 - There is a need to find the remedy to the challenges facing the global financial services industry. Islamic finance provides a solution but legal and regulatory challenges facing the industry need to be addressed.

This was the consensus of the distinguished speakers at the first day of the 9^th IFSB Summit themed as “Global Financial Reforms: The Changing Regulatory Model and Islamic Finance” that is hosted by the Central Bank of the Republic of Turkey. (source)

EVENTS - IFSB SUMMIT - Towards Strengthening the Resilience and Stability of Islamic Finance: Speech

www.ifsb.org - Date : 16 May 2012 - Event / Venue: 9th IFSB Summit - Global Financial Reforms: The Changing Regulatory Model and Islamic Finance | Istanbul, Turkey - Speaker : Jaseem Ahmed, Secretary General, IFSB

I am pleased to welcome you to the 9th Summit of the Islamic Financial Services Board. Our theme for this Summit is Global Financial Reforms: The Changing Regulatory Model and Islamic Finance.

We are delighted to be holding this Summit in the beautiful city of Istanbul. I would like to thank everyone in this city who has made us feel so welcome. I would like especially, of course, to thank H.E. Governor Erdem Basçi of the Central Bank of the Republic of Turkey for his strong support to the IFSB and for hosting our Summit in such a vibrant financial, cultural and intellectual centre.

We hope that the full vibrancy of the global Islamic financial services industry will be on view here in Istanbul during the Summit. (source)

EVENTS - IFSB SUMMIT - Turkey seeks market capitalism alternatives

www.saudigazette.com.sa - ISTANBUL — If you have any doubt that Islamic finance is creeping into the mainstream global financial system where it matters, albeit cautiously and perhaps in some instances even apologetically, then you should have been in Istanbul last week.

Perhaps Turkey may not be perceived as the natural bedfellow of the Islamic finance industry, but contrary to popular misconception, next year will be the 30th anniversary of the introduction of the special decree (No. 831/7506 of 16 December 1983 issued by the Council of Ministers) allowing the establishment of Special Finance Houses (the euphemism for interest-free Islamic banks).

Armed with the ambition of transforming Istanbul into a regional and international financial center (and no financial center these days can be complete without also offering an Islamic banking and investment proposition) and with the sovereign debt chaos emanating from the West European continent, Turkey like several other countries is seeking alternatives to the unbridled market capitalism responsible for the near meltdown. (source)

EVENTS - IFSB Summit - Islamic Financial Services Industry Helpıng to Enhance the Resilience and Stability of the Global Financial System

www.ifsb.org -Islamic Financial Services Industry Helpıng to Enhance the Resilience and Stability of the Global Financial System

Istanbul, 16 May 2012 – The intrinsic strengths of Islamic financial services industry, if fully explored, could help build a robust, resilient and just financial system that not only supports growth and economic activity but also ascertains a more inclusive financial system. This was among the discussions made by the distinguished speakers at the Opening and Keynote Session of the 9^th IFSB Summit that commenced in the Istanbul, Turkey today. The 2-day IFSB Summit themed as “Global Financial Reforms: The Changing Regulatory Model and Islamic Finance” is being hosted by the Central Bank of the Republic of Turkey and is being attended by more than 200 delegates across the globe comprising of officials and representatives from international institutions, supervisory bodies, market players, academia, rating agencies and other stakeholders of Islamic financial services industry. (source)

OIC - COOPERATION ISLAMIC CAPITAL MARKETS - Memorandum of Understanding between Bank Negara Malaysia and Central Bank of the Republic of Turkey

www.bnm.gov.my - A Memorandum of Understanding (MoU) has been signed between Bank Negara Malaysia and the Central Bank of the Republic of Turkey on 16 May 2012 in Istanbul, Turkey by Dr. Zeti Akhtar Aziz, Governor of the Bank Negara Malaysia and Dr. Erdem Başçı, Governor of the Central Bank of the Republic of Turkey.

The MoU aims to foster strategic cooperation between Malaysia and the Republic of Turkey towards promoting bilateral investment and liquidity arrangements, to support the development of the financial services sector in both countries, and to enhance economic and financial linkages between the two countries through bilateral trade and investment. This will also include building the required financial infrastructure, payments and settlements arrangements to facilitate bilateral trade in the respective local currencies of the two countries. (source)

EVENTS - IFSB - Malaysia Leverages its Islamic Finance Experience to Promote Global Financial Linkages at Country Showcase during 9th Annual IFSB Summit in Istanbul

www.ifsb.org -Malaysia Leverages its Islamic Finance Experience to Promote Global Financial Linkages at Country Showcase during 9th Annual IFSB Summit in Istanbul

Kuala Lumpur, 10 May 2012 – Malaysia will showcase its vast experience in Islamic banking and finance with a Country Showcase event preceding the 9th Annual Summit of the Islamic Financial Services Board (IFSB) which is scheduled to be held on 16 - 17 May 2012 at the Swissotel, The Bosphorus in Istanbul, hosted for the first time by the Central Bank of the Republic of Turkey. (source)

EVENTS - Turkey Showcases the Role of Islamic Money and Capital Markets at the 9th Annual IFSB Summit in Istanbul in May

www.ifsb.org - Turkey Showcases the Role of Islamic Money and Capital Markets at the 9th Annual IFSB Summit in Istanbul in May Kuala Lumpur, 25 April 2012 - Turkey, the host country of the upcoming 9th Annual Summit of the Islamic Financial Services Board (IFSB) which is scheduled to be held at the Swissotel, The Bosphorus in Istanbul on 16 - 17 May 2012, is positioning itself as an important Islamic capital and money market.

The Central Bank of Turkey, which is hosting this year’s IFSB Summit, is organising as a pre-Summit event, a landmark Country Showcase in association with the Yildiz Technical University in Istanbul on the pertinent theme “The Role of Interest-free Financial Instruments in the Money and Capital Markets”.

 The theme of the Turkey Showcase has important synergies with the Summit theme, ‘Global Financial Reforms: The Changing Regulatory Model and Islamic Finance’ which aims to evaluate whether reforms in financial regulation structure and prudential standards equally equip the Islamic financial services industry in addressing its future challenges as well as identifying the priority areas in the prudential regulation of Islamic finance that may need focus and attention by regulators and market players alike. (source)

EVENTS - IFSB SUMMIT ISTANBUL - Invitation to the Malaysia Country Showcase & Business Roundtables 15 May 2012, Istanbul, Turkey

Programme MCS - Foreign

EVENTS - IFSB SUMMIT ISTANBUL - Invitation to the Malaysia Country Showcase & Business Roundtables 15 May 2012, Istanbul, Turkey

MIFC Business Roundtables_revised

EVENTS - IFSB SUMMIT ISTANBUL - Invitation to the Malaysia Country Showcase & Business Roundtables 15 May 2012, Istanbul, Turkey

Invitation to the Malaysia Country Showcase

& Business Roundtables

15 May 2012, Istanbul, Turkey

Bank Negara Malaysia (the Central Bank of Malaysia) will be organizing the Malaysia Country Showcase (Showcase) on 15 May 2012 at Swissotel The Bosphorus, Istanbul, Turkey. The Showcase is held in conjunction with the 9 th Islamic Financial Services Board Summit and organised in support of the Malaysia International Islamic Financial Centre (MIFC) initiative.

Themed “Promoting greater financial and economic linkages in Islamic finance”, the Showcase business panel session will discuss current issues and developments in global Islamic finance. Approximately 150 participants
comprising leaders of the financial and business communities are expected to attend the Showcase.

In addition to the Showcase event, three parallel Business Roundtable sessions will be organized separately by the Securities Commission of Malaysia, the Association of Islamic Banking Institutions Malaysia and the
Bond Pricing Agency Malaysia. The objectives of the Roundtables are to further enhance collaboration and linkages between Malaysia and other global economies, in particular Turkey, and to highlight the Malaysian
financial community’s capabilities in offering Islamic financial products and services to the global community.

In this regard, Bank Negara Malaysia is pleased to invite you and your representative(s) to participate in the Showcase and Business Roundtables. You may also wish to invite your clients and representatives from your
group entities to participate in our event. We would appreciate if your good office could confirm your participation and other representatives in the Showcase to

Mr. Noor Fikri Mohd Fadhil at +603 9179 2236/ fikri@bnm.gov.my or
Ms Norhasmiza Haimid at +603 9179 2226/ norhasmi@bnm.gov.my

by 18 April 2012, providing name, designation, telephone and email address.

For participation to attend the Business Roundtables, please contact the relevant officers as stated in the respective programmes. Attached, the programmes for the Malaysia Country Showcase and Business Roundtables for your reference.

Thank you and regards,

MIFC Promotions Unit
Bank Negara Malaysia
Kuala Lumpur, Malaysia

EVENTS - 9th IFSB Summit - 15-17 May 2012 Istanbul - Official Website open

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EVENTS - 9th Islamic Financial Services Board Summit - Global Financial Reforms: The Changing Regulatory Model and Islamic Finance (May 15-17, 2012)

Registration	:	View in PDF

Program hereunder or visit website IFSB

BANKING - Turkey capitalizes on participation banking ties

Perhaps it is not surprising that the 9th Annual Summit of the Islamic Financial Services Board (IFSB) will be hosted by the Central Bank of Turkey (CBT) on May 16-17, 2012 in Istanbul. At the meeting of the central banks & monetary authorities of the OIC member countries which was organized by the Ankara-based SESTRIC, the statistical and research organization of the OIC, and hosted by Bank Negara Malaysia, the central bank, in Kuala Lumpur last week, Erdem Basçı, governor of the CBT, was indeed a busy man. (source)

EVENTS - 9th IFSB Annual Summit to be held in Istanbul, Turkey (May 16-17, 2012)

Kuala Lumpur, 17 November 2011 - The Islamic Financial Services Board (IFSB) is organising its 9th Summit on 16 – 17 May 2012 in Istanbul, Turkey. The Central Bank of the Republic of Turkey (CBRT) is kindly hosting this landmark IFSB annual event. (source)

INTERVIEW - Hussain Erkan - Turkey strives to build closer links with GCC stock exchanges

Turkey has been building capital market bridges to GCC and South East Asia, and chairman of the Istanbul Stock Exchange, Hussain Erkan, has been a leading architect in establishing dialogue, hosting events, and facilitating cooperation and coordination with his counterparts for both Islamic and conventional finance. In this interview, Erkan shares his thoughts on the challenges and progress of Islamic finance in Turkey, among various other issues. He is hopeful that the improvements made should be able to attract investors from the GCC. 

 

Gulf News: Would you kindly explain the role of Istanbul Stock Exchange in providing opportunities for those interested in Islamic finance?

Hussain Erkan: Islamic countries have a huge potential to create wealth in the economy with their rich resources and are capable of achieving more by improving their capital market structure. Since 2005, under the activities of Standing Committee for Economic and Commercial Cooperation of the Organisation of the Islamic Cooperation (COMCEC), Istanbul Stock Exchange (ISE) has been working on creating this awareness and developing the exchange industry in Islamic countries by acting as the coordinator of the Organisation of Islamic Cooperation (OIC) member states’ Stock Exchanges Forum. We also cooperate with other international institutions such as IIFM (International Islamic Financial Market)? on developing an appropriate structure to create solutions for increasing the liquidity of Islamic capital market instruments. (source)

MALAYSIA - REGULATIONS - New Exposure Drafts from IFSB

Exposure Drafts

ED12: Guiding Principles of Liquidity Risk Management
[ ENGLISH]

ED13: Guiding Principles of Stress Testing
[ ENGLISH]

MALAYSIA - REGULATIONS - The IFSB issues two new Exposure Drafts for Public Consultation

ameinfo.com - The Islamic Financial Services Board (IFSB) issues two new Exposure Drafts (EDs) for a three-month Public Consultation period starting today. The EDs are drafts of guiding principles on: 1) Liquidity Risk Management and 2) Stress Testing for institutions offering Islamic financial services (IIFS).

The drafts were approved for issuance by the Technical Committee, in its 25th meeting held in Abu Dhabi on 6 October 2011. The IFSB invites comments from among regulatory and supervisory authorities, international organisations, market players, academics and other interested parties on the two drafts.  (source)

EVENTS - Istanbul Finance Summit 2011 - Sept 28-29 2011

(participation banks present - but no specific Islamic finance panel)

The Istanbul Finance Summit, to be held in Istanbul on September 28-29, 2011, will host some of the most important figures of the global financial world from North America, Europe, the Gulf Region and East Asia. We are pleased to invite you and your institution to join this prestigious platform and play a role in this landmark event.

IFS is designed to provide an annual platform for state of the art discussions on the current state and future direction of the world finance. The Summit is a broad-ranging event, bringing together leading global policy makers, bankers, corporate financiers and regulators, among others. The discussions are expected to have significant impact on the direction of the new financial architecture following the deleterious effects of the global financial crisis. Participants will also find fresh ideas and opportunities for every form of corporate finance during this turbulent period.

The Summit will be closely followed by the international media, who will promote it to both international and national constituencies. The Summit will provide a unique opportunity for delegates to interact and will allow you to showcase the capabilities of your institution in a unique international setting. This second summit will be inaugurated at the Prime Ministerial level and will include top leaders in the banking, corporate finance and project finance sectors as speakers. (website)

CAPITAL MARKETS - SPK and the development of Turkish capital markets

Since its establishment, the Capital Markets Board (SPK) of Turkey has been dedicated to its role of regulating and supervising the Turkish capital markets in accordance with international norms and standards in a continuously changing market environment with clear, objective and easily apprehensible approaches in order to ensure that capital markets are fair, secure, transparent and efficient.

The board continued in 2010 to carry out its regulatory and supervisory activities in line with its above-mentioned mission and vision. (full story - sundays zaman)

BANKING - EVENTS - IFSB Summit Luxembourg - World Bank declares Islamic finance a priority area

" The presence of Sri Muliani Indrawati, managing director of the World Bank Group, underlined the importance the global multilateral development bank views the Islamic finance industry."

The Islamic Financial Services Board (IFSB), the prudential and supervisory standard-setting organization for the global Islamic financial industry, embarked on a new phase of its development which may lead to a review of its mandate to facilitate a wider reach including those countries and organizations that are not currently members of the board. (full story)