Following is the press release carried out by Central Bank of Kuwait (CBK) on the joint CBK-IIFM Seminar on Islamic Hedging, Liquidity Management and Sukuk held in Kuwait on Wednesday, 10th October 2018.
The Central Bank of Kuwait (CBK) is holding a workshop in coordination with the International Islamic Financial Market (IIFM) on Islamic Hedging Standards, Sukuk and Liquidity Management
09.10.18 As part of the social responsibility of the Central Bank of Kuwait (CBK) in enhancing the financial stability of the country and developing the capacities of national cadres in the financial and economic fields, the Central Bank of Kuwait (CBK) is holding a workshop on Wednesday 10-10-2018 in coordination with the International Islamic Financial Market (IIFM) to discuss the standards issued by International Islamic Financial Market (IIFM), which include Islamic hedging standards, Collateralized Murabahah standard and Interbank Unrestricted Master Investment Wakalah standard.
The Governor of the Central Bank of Kuwait (CBK) Dr. Mohammed Yousif Al-Hashel stated that, the workshop, in addition to the standards mentioned, will include a session on the trends and developments of the Sukuk market, where the participants will be briefed on the global market of Sukuk and the practical challenges in Sukuk issuance from a legal and Shari‘ah point of view, and to find long-term and short-term Islamic financial instruments to meet the challenges of the development of the Islamic capital market, especially that the role of Sukuk currently focuses on the development of this market. The participants will also be briefed on the work done by the International Islamic Financial Market (IIFM) to develop the primary and secondary market guidelines and documentation for the benefit of this Sector. The workshop will also discuss the risk management of the Islamic banks.
The Governor added that the Workshop will also discuss the roles of many bodies and parties related to the occupational practices. It will also tackle addressing the liquidity problem in the Islamic banks, the creation of innovative investment instruments, the creation of a secondary market and the provision of new investment opportunities, where most of the activities of the Islamic banks focus on dealing in commodities, while there are many investment instruments available to the Islamic banks such as Sukuk and Lease Sukuk, which they began to make available to the market. These instruments help to address the liquidity problem in the Islamic banks.
The Governor concluded his statement saying that the Central Bank of Kuwait (CBK) continues its role in the development of national cadres in all the financial and economic fields through holding such workshops and activities, based on its holistic view of its responsibilities in enhancing the financial stability.
The presentations and photographs from the seminar can be viewed on the IIFM website by clicking on the following link: