IFSB Seminar discusses Emerging Shari`ah Issues in Regulatory Capital and Risk Management in Islamic Banking
The Islamic Financial Services Board (IFSB) is at the moment in the process of revising its Capital Adequacy Standard for institutions offering Islamic financial services (IIFS), which was launched in 2005.
Mr. Jaseem Ahmed, Secretary-General at IFSB, noted that their revision process started in January 2011. He highlighted the fact that the adoption of components of capital proposed by the Basel III for IIFS need further deliberations by the stakeholders of the Islamic financial services industry.
The final draft of the revised document is forseen for issuance by the IFSB Council in 2013.
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