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Sunday, 1 April 2012
The IFSB Council Adopts Two New Guiding Principles for the Islamic Financial Services Industry
The IFSB-12 delineates a set of guiding principles for the robust management of liquidity risk by institutions offering Islamic financial services (IIFS) and their vigorous supervision and monitoring by supervisory authorities, taking into consideration the specificities of the IIFS, while complementing relevant international standards and best practices. In line with the objectives of the IFSB to support development of a prudent, efficient and resilient Islamic financial services industry, this document outlines 23 Guiding Principles comprising one general principle, 14 Guiding Principles for the IIFS and 8 Guiding Principles for supervisory authorities. These principles aim to provide guidance on effective management and supervision of liquidity risk.
IFSB-13: Guiding Principles on Stress Testing for Institutions offering Islamic Financial Services (excluding Islamic Insurance (Takaful) Institutions and Islamic Collective Investment Schemes)
Alfalah Consulting - Kuala Lumpur:
Islamic Investment Malaysia: