The Islamic Financial Services Board (IFSB) organised a seminar on Managing Liquidity in the Islamic Financial Services Industry. It was held on 6-7 April 2011 in Istanbul, Turkey. The Central Bank of the Republic of Turkey (CBRT) hosted the event. The Centre was represented at the seminar by Mr. Nadi Serhan Aydin, Researcher at the Centre.

Mr. Rifaat Ahmed Abdel Karim, Secretary-General of the IFSB; Mr. Durmus Yilmaz, Governor of the CBRT and Mr. Vedat Akgiray, Chairman of the Capital Markets Board of Turkey were prominent figures attending the meeting. Mr. Simon Archer, Visiting Professor at the Reading University (UK); Mr. Brandon Devies, Gatehouse Bank Board Director; Mr. Daud Vicary Abdullah, Deloitte Global Islamic Finance Leader, and Mr. Khalid Howladar, Moody’s Senior Credit Risk Officer, favoured the event with their invaluable contributions to the understanding of the challenges ahead of the liquidity in the Islamic finance industry.

Having been recorded as the third IFSB initiative addressing liquidity management issues this year, the seminar focused on existing and emerging issues in liquidity management in the Islamic financial services industry. The building blocks and infrastructure for liquidity management, along with its regulatory setting, were also examined – with particular emphasis on related case studies from various jurisdictions. The meeting further offered new insights into and prospects for a robust Islamic financial services industry.

Lack of standardization, need for innovative Islamic financial engineering and the role of central banks have been at the heart of the discussions. Turkey, Malaysia and Qatar were called on to lead the way in tackling the foregoing obstacles.

Upcoming event

8th Islamic Financial Services Board Summit

Enhancing Global Financial Stability: Challenges and Opportunities for Islamic Finance

10-13 May 2011, Luxembourg

http://www.ifsbluxembourg2011.com/

Briefcase (Presentations)

• Liquidity and Risk Considerations for Islamic Financial Institutions – Moody’s Middle East, UAE
• Liquidity Management in the Islamic Financial Services Industry: Risks & Regulatory/Supervisory Issues – ICMA Centre, Henley Business School, University of Reading, UK
• Liquidity and Shariah Banking – Gatehouse Bank, UK
• Infrastructures for Managing Liquidity and Liquidity Risks: An Introduction to the Luxembourg Infrastructures Landscape – The Banque Centrale du Luxembourg, Luxembourg
• Regulatory Approaches to Liquidity Management in the Islamic Financial Services Industry: The Malaysian Experience – Central Bank of Malaysia, Malaysia
• Regulatory Approaches to Monitoring Liquidity Management in Islamic Financial Services Industry – IFSB, Malaysia