IFSB To Organise Retakaful Roundtable Discussion In Bahrain

KUALA LUMPUR, Dec 17 (Bernama) -- The Islamic Financial Services Board (IFSB) is organising a Roundtable Discussion on Retakaful on Jan 10, 2016 in Manama, Bahrain. The roundtable aims to discuss the issues contained in the recently issued IFSB Exposure Draft on Guiding Principles for Retakaful (Islamic Reinsurance) (ED-18). "The roundtable discussion on ED-18 aims at inviting greater engagement, and get feedback from key industry stakeholders on the exposure draft prior to its final submission to the IFSB Council in April 2016 for adoption," said IFSB in a statement Wednesday. ED-18, which highlights the distinguishing features of the various retakaful models used for inward and outward retakaful arrangements, aims at providing regulatory and supervisory authorities and market players with the takaful industry guidance relating to retakaful. The draft document was issued by the IFSB on Nov 5, 2015 for a two-month public consultation period. The IFSB is an international standard-setting organisation, based in Malaysia, that promotes and enhances the soundness and stability of the Islamic financial services industry. --BERNAMA