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Archive for May 2011

New IFSB chief faces challenging task

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Points of Essence

  • The change of leadership at the Islamic Financial Services Board has set yet another challenge for the new chief to spearhead a greater inclusion of the global financial community in the sphere of Islamic finance
  • While his predecessor has successfully put in place the institutional workings of the IFSB, the new chief will need to command a greater authority and respect to bring Islamic finance in parallel with the global financial system.     

By MUSHTAK PARKER | ARAB NEWS

Published: May 8, 2011 19:39 Updated: May 8, 2011 19:39

Jaseem Ahmed officially took over at the beginning of this month as the new secretary general of the Kuala Lumpur-based Islamic Financial Services Board (IFSB), the prudential and supervisory standard-setting organization for the global Islamic financial industry. He succeeds a prominent predecessor, Professor Rifaat Abdel Karim, who has been at the helm of the board for the last 8 years since it started operations in March 2003.

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Written by Suapi Shaffaii

May 9, 2011 at 10:29 pm

End of journey for Rifaat at the IFSB

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Points of Essence

  • There has been a shift of stewardship at the Islamic Financial Services Board since April this year.
  • An interview with the IFSB’s former Secretary General, Prof. Rifaat Abdel Karim, will shed some lights into the pioneering efforts behind the establishment of the IFSB and the challenges it faced to emerge a global Islamic financial authority.      

By MUSHTAK PARKER | ARAB NEWS

Published: May 8, 2011 19:39 Updated: May 8, 2011 19:39

Professor Rifaat Abdel Karim is the inaugural secretary general of the Kuala Lumpur-based Islamic Financial Services Board (IFSB), the multilateral prudential and supervisory standard setting organization for the global Islamic financial services industry. He was appointed in November 2002 and the board officially started operations in March 2003. During his watch, the organization increased from its nine founding members to 195 to date, including 53 regulatory authorities and central banks from 41 jurisdictions. During that time the IFSB has also published 14 standards relating to various products governance issues. Rifaat resigned last year and his tenure came to an end in April 2011, making way for a new secretary general. In the first installment of a two-part in-depth and unique interview, Rifaat discusses with Arab News the circumstances of the establishment of the IFSB; the major role that the IMF (International Monetary Fund), the Basle Committee and the Asian Development Bank played in its early years and continues to play today; and the political battle that had to be resolved to decide where the new organization would be located.

Written by Suapi Shaffaii

May 9, 2011 at 9:28 pm

Islamic Economics, Banking, and Finance – The Indonesia Experience: Dr. Antonio Syafii

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Dear Islamic Bankers,

If you happen to be within the vicinity of the University of California, Berkeley and are interested to know the state of Islamic banking in Indonesia, just head to the university hall and meet an Indonesian scholar for the related insights.  Check out the details below:

Date: May 12, 2011

Time: 12-1 p.m

Venue: International House, Home Room, University of California, Berkeley

Speaker: Dr. Muhammad Syafii Antonio

Background of Speaker:

Dr. Muhammad Syafii Antonio is a renowned Islamic Banking expert from Indonesia, and has over 16 years of experience in the field. He holds Ph.D in Finance from University of Melbourne, obtained Masters of Economic from International Islamic University Malaysia and first degree in Islamic Law from University of Jordan and Islamic Studies Program from Al Azhar University, Cairo. He has published nine books on Islamic banking, economics, zakat and leadership. Currently, he serves as Board of Commissioner and Shariah Advisor in several Islamic financial institutions, as well as member of Indonesian Central Bank’s Expert Committee on Islamic Banking and National Shariah Council.
At International House, UC Berkeley, Dr. Syafii Antonio will present an overview of Islamic Economics, Banking, and Finance and will highlight Indonesia’s experience in establishing such system.

This event is free of charge and open to the public.

ihprograms@berkeley.edu, 510-642-9460

Source: http://events.berkeley.edu/index.php/calendar/sn/polisci.html?event_ID=43446&ovrrdr=1

Written by Suapi Shaffaii

May 8, 2011 at 9:20 pm

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