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Press Release
02 Jan | Thursday
The IFSB Publishes Second Set of Frequently Asked Questions (FAQs) on four of its Standards on Disclosure Requirements for ICM Products, ICM Regulation, Supervisory on Takāful and Retakāful, and Transparency and Market discipline for IIFS
The second set of FAQs are aimed to promote implementation of IFSB standards globally, through presenting clarifications and explanative directions on the issued standards. The recent publication covers selected FAQs on four IFSB standards, namely: “Guiding Principles on Disclosure Requirements for Islamic Capital Market Products (Sukûk and Islamic Collective Investment Schemes)” (IFSB-19); “Key Elements in the Supervisory Review Process of Takâful/Retakâful Undertakings” (IFSB-20); “Core Principles for Islamic Finance Regulation [Islamic Capital Market Segment]” (IFSB-21); and “Revised Standard on Disclosures to Promote Transparency and Market Discipline for Institutions Offering Islamic Financial Services [Banking Segment]” (IFSB-22).
 
FAQs for IFSB-19 gives explanation, among other things, on Sharīʻah related disclosure requirements for ṣukūk, disclosure on purification of tainted assets or income for ṣukūk and ICIS, as well as recommendation on takāful or insurance arrangement for ṣukūk issuance. 
 
Read more here
source: The Islamic Financial Services Board (IFSB)
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