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27 Aug 2007

Islamic Financial Services Board Hosts Forum

The Islamic Financial Services Board (IFSB) and the Financial Stability Institute (FSI) of the Bank for International Settlements today announced the presentation of "The European Challenge" it will be the 2nd Forum on Islamic Financial Services.

The forum will be held on the 5 & 6 of December, 2007 in Frankfurt, Germany. Deutsche Bundesbank is supporting the Forum.

The 2nd "European Challenge" has been organised in response to the increasing interest shown in Islamic financial services within and among European nations. The Forum will touch on the overview of the Islamic financial services industry as well as the different approaches towards it's implementation across the globe.

On a more global perspective, the Forum will also serve as a platform to discuss the development of related global prudential regulations for the Islamic financial services industry developed by the IFSB in comparison to Basel II.

Secretary General of the IFSB, Professor Rifaat Ahmed Abdel Karim, commenting on the importance of holding a Forum that caters to the European market said "It is important for the IFSB to understand the different regional markets in our efforts to facilitate the sound and stable growth of the Islamic financial services industry at global level. This Forum aims to be an interactive platform for facilitating a better understanding of the Islamic financial services industry from a European perpective."

The Forum follows the success of the inaugural one which was held in Luxembourg in November 2005. The 1st Forum was supported by the Centrale Banque Du Luxembourg and attended by over 150 delegates from 26 countries.

This one is expected to attract participants from among senior supervisors, finance officers, financial analysts, compliance officers, accountants, auditors, retail and private bankers, investment advisors, lawyers and academicians.


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