Today, the Islamic Financial Services Board (IFSB) online seminar on "COVID – 19: investor protection and transparency in the Islamic Capital Market” was hosted by the Astana International Financial Centre as part of its annual forum Astana Finance Days.
This seminar aims to increase awareness of the importance of investor protection and transparency in strengthening investor confidence, sustainability and stability of the Islamic capital markets and to act as a platform to duscuss critical policy issues arising in the context of the current global financial environment.
The main objectives of the seminar are to address issues, specific to Islamic finance, related to investor protection and transparency of the Islamic capital market, discuss best practices and elements of a reliable investor protection system, overview the world’s best practices and guidelines regarding information disclosure requirements and transparency within Islamic capital market products, in particular Islamic securities (sukuk) and Islamic collective investment schemes.
The seminar brought together representatives of regulatory and supervisory authorities, companies offering Islamic financial services, international organisations, multilateral development banks, as well as leading experts in the field of Islamic finance.
More detailed information about the seminar is available on the following websites www.ifsb.org and www.astanafindays.org.
Reference:
The Astana International Financial Centre (AIFC) was created by the initiative of the First President of the Republic of Kazakhstan, Leader of the Nation, Nur-Sultan Nazarbayev as part of the “100 steps to implement five institutional reforms” national program. The Management council of the AIFC during the council’s meeting on July 2, 2020 approved the Centre’s development strategy until 2025. By the strategy, the vision of AIFC is in becoming the leading financial centre in the region that includes Central Asia, the Caucasus, EAEU countries, western China, Mongolia, and Eastern Europe.
The mission of the AIFC is in assisting the sustainable and long term development of the region. As the head of state Tokayev noted, “AIFC, with its unique opportunities, can act as a universal platform that connects the countries in the region.” The strategic directions for the sustainable development of the AIFC include the development of a circular economy, financial technologies, and “digital financial centre.”
For more information about the AIFC, follow the link www.aifc.kz
The Islamic Financial Services Council (IFSB) is an international standards-setting organization that promotes and strengthens the reliability and stability of the Islamic financial services industry by issuing global standards and guidelines for the industry, which broadly include banking, capital markets and the insurance sector. The IFSB also conducts research and coordinates initiatives on industry issues and organizes round tables, seminars, and conferences for regulators and industry stakeholders. To this end, IFSB works closely with relevant international, regional and national organizations, research / educational institutions and market participants.
IFSB members are regulatory and supervisory authorities, international intergovernmental organizations and market participants and industry associations.
For more information about the IFSB, follow the link www.ifsb.org
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