This mutual co-operation aims to strengthen the efforts of the two institutions in promoting an exchange of information, undertaking research, development, training and education in the Islamic financial services industry. More specifically, the MoU identifies the following areas of cooperation between the IFSB and INCEIF:
- Jointly exploring and undertaking various research issues concerning Islamic financial services industry.
- Providing reciprocal staff development and exchange programmes.
- Building awareness among the industry players through jointly conducting learning and awareness programmes including among others: conferences, seminars, workshops, roundtables, trainings (including custom-designed learning and training programmes).
- Cooperating in providing technical assistance to facilitate the implementation of the IFSB standards and to assist in building the necessary financial infrastructure for development of a sound and stable Islamic financial services industry.
Under the first MoU, signed in 2012, the IFSB and INCEIF successfully held a series of six Executive Forums (EF) covering topics in Islamic finance. The IFSB-INCEIF Executive Forums on Islamic Finance aim to provide a platform for industry’s global leaders to discuss emerging issues facing the global Islamic financial services industry with an emphasis on issues related to supervision and prudential regulation at the national and international levels.
The next Executive Forum on Islamic Finance, themed Building Momentum for Islamic Liquidity Management, will be held 3 to 4 June 2015 in Kuala Lumpur, Malaysia.