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Malaysia, Singapore and Hong Kong to showcase Islamic finance initiatives in IFSB Amman Summit on 12th May

Malaysia, Singapore and Hong Kong are participating in the Country Showcases which will be held prior to the 5th Islamic Financial Services Board (IFSB) Summit, on 12th May, 2008 in Amman, Jordan.

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The Country Showcases are part of this annual Summit which is scheduled to be on 13-14th May 2008. The Summit, that the Central Bank of Jordan is hosting, is held under the Royal Patronage of Her Majesty Queen Rania Al-Abdullah, and themed 'Financial Globalisation and Islamic Financial Services'.

Professor Rifaat Ahmed Abdel Karim, IFSB's Secretary General said,

"This is our second year of introducing the Country Showcases as a Pre Summit event. The IFSB is happy to provide this platform for its member countries to showcase their individual country initiatives and policies on Islamic financial services. This is in line with the IFSB mandate to encourage cooperation amongst its member countries in developing the Islamic financial services industry as a whole."


The Country Showcases will run concurrently with another Pre Summit event, namely a Public Hearing on two IFSB Exposure Drafts: 1) Governance for Islamic Collective Investment Schemes and 2) Capital Adequacy Requirements for Sukuk Securitisation and Real Estate Investment, which were issued in December 2007 for public consultation as part of the IFSB due process for preparing its standards and guidelines.
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Related site: http://www.ifsb.org

Notes and media contacts

Participation in these Pre Summit events is free of charge. For registration details, please visit www.ifsbamman2008.com

For further Information, please contact:
Ms Farrah Aris
Email: farrah@ifsb.org
Tel: + 603 2698 4248 ext 116
Fax: + 603 2698 4280

About the Islamic Financial Services Board:
The 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 currently has 164 members comprising 41 banking, securities and insurance regulatory and supervisory authorities, 6 international inter-governmental organisations and 117 market players and professional firms from over 31 jurisdictions.

Bank Negara Malaysia and the Monetary Authority of Singapore are Full and Council members of the IFSB, while the Hong Kong Monetary Authority is an Associate member.
Anne-Birte Stensgaard Posted by Anne-Birte Stensgaard, Senior News Editor
Thursday, April 24 - 2008 at 08:01 UAE local time (GMT+4)

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