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.
- Press Release
- FAQs for IFSB-19 (PDF)
- FAQs for IFSB-20 (PDF)
- FAQs for IFSB-21 (PDF)
- FAQs for IFSB-22 (PDF)
Keywords: International, Banking, Insurance, Securities, Disclosures, Islamic Banking, Islamic Insurance, FAQ, IFSB
Previous ArticleRBI Consults on Large Exposure Limits for Co-operative Banks
Next ArticlePBC Fintech Committee Outlines Work Plans for 2020
The European Commission (EC) published the Delegated Regulation 2022/786 with regard to the liquidity coverage requirements for credit institutions under the Capital Requirements Regulation (CRR).
The European Banking Authority (EBA) published the final draft regulatory technical standards specifying the criteria to identify shadow banking entities for the purposes of reporting large exposures.
The Office of the Superintendent of Financial Institutions (OSFI) published the strategic plan for 2022-2025 and the departmental plan for 2022-23.
The European Banking Authority (EBA) is consulting, until August 31, 2022, on the draft implementing technical standards specifying requirements for the information that sellers of non-performing loans (NPLs) shall provide to prospective buyers.
The European Council and the Parliament reached an agreement on the revised Directive on security of network and information systems (NIS2 Directive).
The European Banking Authority (EBA) published the final draft regulatory technical standards specifying information that crowdfunding service providers shall provide to investors on the calculation of credit scores and prices of crowdfunding offers.
The European Council published a draft Commission Delegated Regulation to amend the regulatory technical standards on specification of the calculation of specific and general credit risk adjustments.
The European Securities and Markets Authority (ESMA) published a paper that examines the systemic risk posed by increasing use of cloud services, along with the potential policy options to mitigate this risk.
The Monetary Authority of Singapore (MAS) published amendments to Notice 635, which sets out requirements that a bank in Singapore has to comply with when granting an unsecured non-card credit facility to individuals.
The European Commission (EC) published a public consultation on the review of revised payment services directive (PSD2) and open finance.