The Islamic Financial Services Board (IFSB) is organising the Islamic Financial Services Forum: The European Challenge, which will be hosted by the Banque Centrale Du Luxembourg (Central Bank of Luxembourg). The forum will be held on Nov 8–9, 2005 in Luxembourg. IFSB is an international-standard setting body of regulatory and supervisory agencies for the Islamic financial services industry. In a statement on Sept 19, IFSB said the two-day forum, which will be the first to be held in Europe by the IFSB, would focus on the current prudential issues and potential risks, and challenges through comprehensive discussions and working papers delivered by industry renowned regulators, practitioners and academics. IFSC secretary-general Prof Rifaat Ahmed Abdel Karim, said: “The IFSB is proud to organise this first issue-driven forum in Europe with the Central Bank of Luxembourg. "The Forum is aimed at providing participants with an opportunity to discuss the challenges that they will face when Islamic financial services are widely offered in Europe.” It is designed to cater for regulators, finance officers, financial analysts, compliance officers, actuaries, accountants, auditors, retail and private bankers, fund managers, investment advisors, lawyers and academics. The topics to be addressed include adapting BASEL II capital adequacy and risk management to Islamic finance, issues in corporate governance in Islamic finance and enhancing financial reporting and transparency in institutions offering Islamic banking services. “The end result of this forum will hopefully act as a catalyst for the Islamic financial industry to make a quantum leap into the highly competitive market of Europe which holds significant potentials for the growth of Islamic finance,” said Prof Rifaat. For more information, log on to http://www.ifsb.org/luxembourg
IFSB to Hold First Islamic Financial Services Forum in Europe
