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Pre-summit event at 8th Annual IFSB Summit to discuss developments in liquidity management for the Islamic financial services industry

Kuala Lumpur, 15 April 2011 – The Islamic Financial Services Board (IFSB) is organising its 8th Summit "Enhancing Global Financial Stability: Challenges and Opportunities for Islamic Finance" on 10-13 May 2011 in Luxembourg. Banque centrale du Luxembourg is hosting the Summit. Three pre-Summit events will be held on 10 - 11 May 2011 at the Chambre de Comemrce Luxembourg. These are:

1. Workshop on Islamic Finance and the IFSB Standards for Institutions offering Islamic Financial Services and Islamic Capital Markets;
2. Country Showcases by Malaysia and Luxembourg; and
3. Special Session on Liquidity Management in the Islamic Financial Services Industry.

Workshop on Islamic Finance and the IFSB Standards for Institutions offering Islamic Financial Services and Islamic Capital Markets, 10 May 2011
The Workshop is open to all participants attending the Summit, as well as to those who wish to familiarise themselves with the Islamic financial services industry and the work of the IFSB. It will be conducted by members of the IFSB Secretariat and two professionals, Professor Simon Archer, IFSB Consultant and Visiting Professor at the ICMA Centre, University of Reading, UK; and Daud Vicary Abdullah, Global Islamic Finance Leader, Deloitte Corporate Advisory Services, Malaysia.

The Workshop will cover the following topics:

· Concept and Contracts of Islamic Finance; the IFSB Guiding Principles on Conduct of Business for Institutions offering Islamic Financial Services – Overview and Case Studies
· IFSB Standard on Capital Adequacy Requirements for Sukûk, Securitisations and Real Estate Investments
· IFSB Guiding Principles on Governance for Islamic Collective Investment Schemes.

Country Showcases, 11 May 2011
The Luxembourg Country Showcase will be held in the morning of 11 May 2011. It will be followed by a Malaysia Country Showcase entitled "Investor's Forum on Opportunities in Malaysia".

Special Session on Liquidity Management in the Islamic Financial Services Industry, 11 May 2011
The IFSB and Banque centrale du Luxembourg are jointly organising this Special Session in the afternoon of 11 May 2011. The Special Session will discuss issues relating to liquidity management in the Islamic financial services industry. It will also include a presentation on the recently established International Islamic Liquidity Management Corporation, an initiative that was facilitated by the IFSB and which started operations in February 2011.

This Special Session will address:
· Liquidity Management in the Islamic Financial Services Industry - Challenges and Opportunities
· Establishment of the International Islamic Liquidity Management Corporation
· Panel Discussion on Key Components for Structuring International Liquidity Instruments: Sharî`ah, Legal, Rating, Trading, Clearing and Settlement

The confirmed speakers in the Special Session include Professor Simon Archer, IFSB Consultant and Visiting Professor, ICMA Centre, University of Reading, UK; Dr. Mohd Daud Bakar, President and Chief Executive Officer, Amanie Business Solutions; Raja Teh Maimunah, Global Head of Islamic Markets, Bursa Malaysia; and Anouar Hassoune, Managing Director, Real Economy Partners.

More information on the 8th IFSB Summit and these three events is available at www.ifsbluxembourg2011.com.

NOTE TO EDITOR:

About the Islamic Financial Services Board (IFSB)
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 also conducts research and coordinates initiatives on industry-related issues, as well as organises roundtables, seminars and conferences for regulators and industry stakeholders. Towards this end, the IFSB works closely with relevant international, regional and national organisations, research/educational institutions and market players.

As at March 2011, the 191 members of the IFSB comprise 54 regulatory and supervisory authorities, six international inter-governmental organizations and 131 market players, professional firms and industry associations operating in 43 jurisdictions.

For more information about the IFSB, please visit www.ifsb.org