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The IFSB Organises Workshop on Banking Standards in Iraq Post

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24th March 2019 in Iraq Banking & Finance News, Iraq Education and Training News
By John Lee.
The Islamic Financial Services Board (IFSB) is organising a Facilitating the Implementation of the IFSB Standards (FIS) Workshop in Baghdad, Iraq on 1 – 3 April 2019.
This Workshop is hosted by the Central Bank of Iraq (CBL).
The 3-day Workshop will focus on the following IFSB Standards:

  • IFSB-15: Revised Capital Adequacy Standard for Institutions Offering Islamic Financial Services (IIFS);
  • GN-3:Guidance Note on the Practice of Smoothing the Profit Payout to Investment Account Holders;
  • GN-4:Guidance Note in Connection with the IFSB Capital Adequacy Standard: The Determination of Alpha in the Capital Adequacy Ratio for IIFS; and
  • GN-6:Guidance Note on Quantitative Measures for Liquidity Risk Management

Overall, the Workshop aims to:

  1. Enhance the participants’ understanding of the respective Standards and Guiding Principles;
  2. Assist the participants in the practical application of issues addressed in the particular standards through case studies, hands-on exercises and other interactive tools; and
  3. Promote the sharing of experiences among the participants on the implementation of respective IFSB Standards and Guiding Principles.

The FIS Workshops are a part of the IFSB’s support to its members based on the Strategic Key Result Area 2 (SKRA 2) on the Facilitating the Implementation of Prudential Standards and Capacity Development under the IFSB’s Strategic Performance Plan (SPP) 2016-2018”, to assist member organisations in adopting and implementing the IFSB Standards.
For enquires on IFSB workshops and membership services, please contact the IFSB Secretariat at ifsb_sec@ifsb.org.


http://www.iraq-businessnews.com/2019/03/24/the-ifsb-organises-workshop-on-banking-standards-in-iraq/
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Note terminology, Profit Payout versus interest payments and "smoothing" as if cash flow expectations from customers could be disruptive.   Heck, they can keep my principal as long as they will be reliable with interest payments.  This is the most encouraging thing re: the banking system I have seen in a long time. 

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