IFSB is organizing its second Executive Program to be held on July 17 and 18, 2019 in Kuala Lumpur, Malaysia. The theme of the executive program is the implementation of effective stress testing and financial safety nets for Islamic banks. This is the second module of the Effective Risk Management series of IFSB that is targeted at the board of directors and senior management of institutions offering Islamic financial services or IIFS. The executive program aims to facilitate a better understanding of the issues confronting the Islamic financial services industry and, thus, contribute toward advancing the development of the industry.
Effective risk management, stress testing, and financial safety nets are important focus areas, given the more challenging global financial environment amid the heightened geopolitical uncertainties and increased potential for financial vulnerabilities as well as the ongoing changes in the dynamics of the financial services industry. The key takeaways from the executive program will include providing insight on implementing effective tools and global standards to strengthen the resilience and stability of the Islamic financial services industry and to address or mitigate a potential financial crisis. The two-day program will include sessions on the following:
- Institutions offering Islamic financial services and emerging risks in a changing financial environment
- Managing the emerging risks for institutions offering Islamic financial services
- Governance of effective stress testing in institutions offering Islamic financial services
- Digital transformation of risk management in institutions offering Islamic financial services (experience-sharing)
- Effective financial safety nets for institutions offering Islamic financial services: role of Sharīʻah compliant lender of last resort (SLOLR) and Sharīʻah-compliant deposit insurance scheme (SCDIS) in an era of uncertainty
- Regulatory priorities in addressing financial stability and evolving risks in the Islamic financial services industry
Keywords: International, Banking, Stress Testing, Financial Safety Nets, Systemic Risk, Executive Program, Islam Banking, SLOLR, IFSB
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