Islamic Finance : The New Regulatory and Reporting Development

Wed, 21 January 2015, 8:30am - 5:30pm | English

Sasana Kijang

IBFIM

http://www.ibfim.com

Synopsis
The Islamic Financial Services Act (IFSA) 2013 provides a comprehensive legal framework that is fully consistent with Shariah in all aspects of regulation and supervision. IFSA requires the financial statements of Islamic financial institutions to be reported in accordance with the Malaysian Financial Reporting Standards (MFRS). Among other, accountants need to understand the specific requirements on the application of the MFRS and the information to be disclosed in the financial statements including those arising from the Shariah contracts applied in Islamic banking transactions.

The main objectives of the conference are to provide useful insights of the latest development in the regulatory framework and reporting standard for Islamic finance. The conference will address issues that link both Islamic finance and accounting issues and which require the specialized and technical skillsets possessed exclusively by accountants, such as the harmonization of international accounting standards for Islamic finance, taxation for sukuk, shariah audits and shariah governance.

It will garner the creation of an ample, high-quality and ready supply Islamic Finance-competent accountants to support this high-growth sector.

Objective
* Discover latest development, regulatory framework, innovation and new frontiers in Islamic finance services industry
* Leverage on the Islamic financial systems in Malaysia to boost economic development, accelerate the use of Islamic finance globally and maximize economic yields;
* Appraise the financial reporting standards for Islamic financial institutions and discuss the responsibility of an integrated report from the standpoint of an Islamic Bank;
* Learn the legal implications on CEOs and CFOs working in the Islamic Financial environment; and
Deliberate the governance of the Shariah supervisory board practices and Shariah risk management, review and audit functions.

For more information contact:
IBFIM
Level 3, Menara Takaful Malaysia
Jalan Sultan Sulaiman
50000 Kuala Lumpur
MALAYSIA

Tel: +603 2031 1010
Fax: +603 2031 9191

Sasana Kijang