IAIS Malaysia

Past Events

Training Programme: Regulatory and Compliance Framework in Islamic Finance Under IFSA 2013

Date: 12 & 13 October 2015 (Monday & Tuesday)
Venue: IAIS Malaysia, Jalan Elmu, Off Jalan Universiti, Kuala Lumpur, Malaysia.
Organiser:  International Institute of Advanced Islamic Studies (IAIS) Malaysia.

IFT 12OCT2015

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acrobat_icon<< click to View/Download Detailed Programme (in PDF format)

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FEES

fee

 

SUMMARY

The introduction of Islamic Financial Services Act (IFSA) 2013 in June 2013 has indeed affected the Islamic banking and finance landscape in Malaysia. The enactment of IFSA 2013 as its new backbone for Islamic banking and finance is very timely to respond to the current market needs that have achieved a remarkable level of maturity. As a new inclusion in Malaysian regulatory infrastructures for Islamic banking and finance industry, the understanding of its salient features and the changes it introduces is very crucial. Hence, the training, entitled “Regulatory and Compliance Framework in Islamic Finance under IFSA 2013” was conducted on 12-13 October 2015 by IAIS, aimed at exposing the participants to the current regulatory regime for Islamic finance in Malaysia with special reference to IFSA 2013. In addition, the programme targeted to equip the participants with a proper understanding of both local and international compliance structures for Islamic financial market and issues and challenges that have arisen from the current Islamic financial system.

The participants were of different sectors, namely Islamic banking and financial institutions, Takaful operators, universities and higher education institution, research institutes and also regulators. The topics covered for the training was extensive, inter alia:

• Historical development of Islamic banking and finance
• Overview of international Islamic finance regulatory framework
• Overview of the historical and regulatory aspects of Islamic banking and finance in Malaysia
• Relevant acts governing Islamic financial institutions in Malaysia
• Selected issues and challenges faced by the Islamic financial system at global market
• Analysis of international cases involving Islamic financial contracts
• Judiciary and dispute settlement mechanisms
• Salient features of IFSA 2013
• Shariah Compliance required by IFSA 2013
• Analysis of recent Malaysian cases involving Islamic banking and financial disputes

The programme received an excellent response from the participants. The positive feedback from the participants indicates a need for IAIS Malaysia to offer additional training programmes in the future. The training programme ended with a photo session and the distribution of certificates of attendance. [written by Apnizan Abdullah]

CONTACT INFORMATION

International Institute of Advanced Islamic Studies (IAIS) Malaysia.
Jalan Elmu, Off Jalan Universiti 59100 Kuala Lumpur, Malaysia.
Tel: +603-7956 9188   Fax: +603-7956 2188 / +603-7956 2966
 

Quotable Quotes

Kind words can be short and easy to speak, but their echoes are truly endless, Mother Teresa

Humour Without Malice

This is a real incident from Trinidad. Seeing the success of a halal meat grocery store owner, a neighboring meat store owner with a different faith decides to introduce halal meat in his own store. He puts up a huge sign on his shop saying "Halal Meat, Found Here". Curious, some Muslims decide to find out how the meat was halal. When the owner was asked where he gets the halal meat from, he says that he slaughters the animal by himself. Surprised, the Muslism ask, and what do you say when you slaughter. He says, "I say 'Halal' and cut the animal".

Hikmah

It is enough of a sin for a man to relate all of what he hears. - Hadith

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