IFSB drafts hearing date set
Manama, December 8, 2011
The Islamic Financial Services Board (IFSB) is inviting the Islamic financial community and interested parties to attend its second public hearing for the IFSB Exposure Drafts (ED) 12 and 13.
The hearing will be held on December 14 at the Ritz-Carlton Bahrain Hotel and Spa and is hosted by the Central Bank of Bahrain.
ED 12 is on "Guiding principles on liquidity risk management for institutions offering Islamic financial services", excluding Islamic insurance institutions and Islamic collective investment schemes (IIFs) while ED 13 is on "Guiding principles on stress testing for IIFS".
The EDs, which are available for download from the IFSB website, were issued on October 12, and public consultation will end on January 12.
Public hearings for the EDs, the first was held in Kuala Lumpur on November 16, are held within the public consultation period of the documents, and is 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. – TradeArabia News Service