IFSB to run executive programme on effective risk management

by TMR / pic by TMR GRAPHIC

Islamic Financial Services Board (IFSB) will run an executive programme next week to discuss risk management for institutions offering Islamic financial services (IIFS).

The two-day programme starting on July 18, targeting IIFS directors and senior management, is themed, “Implementing effective stress testing and financial safety nets for Islamic banks: Governance and regulatory compliance”.

In a statement, IFSB said the programme is meant for industry leaders and top management as well as regulatory and supervisory authorities.

It will allow them to engage in high-level discussions and exchange industry experiences on the subject of emerging risks and effective tools, strategies and best practices to manage emerging risks and issues faced by IIFS.

They would also look at the implementation and oversight of effective stress testing programmes and appropriate financial safety nets for IIFS.

It said the programme aims to facilitate a better understanding of the issues confronting the Islamic financial services industry and contribute towards advancing the development of the industry.

Effective risk management, stress testing and financial safety nets are particularly 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, it said.