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    IFSB Publishes FAQs for Four Islamic Finance Standards

    December 30, 2019

    IFSB published a set of frequently asked questions (FAQs) that provide additional guidance on four IFSB standards. These standards are the revised IFSB-19 on guiding principles on disclosure requirements for Islamic capital market products, IFSB-20 on key elements in the supervisory review process of Takâful/Retakâful undertakings, IFSB-21 on core principles for Islamic finance regulation, and IFSB-22 on disclosures to promote transparency and market discipline for institutions offering Islamic financial services (banking segment). The FAQs present explanatory notes to some of the technical text and interpretation of certain provisions of the respective standards, with FAQs for IFSB-20 providing guidance on supervisory follow-up, Sharīʻah governance, model and framework of Takāful operators, and supervisory approach on Takāful windows operation.

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    Keywords: International, Banking, Insurance, Securities, Disclosures, Islamic Banking, Islamic Insurance, FAQ, IFSB

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