IFSB: Press release: The IFSB adopts two new Guidance Notes for the Islamic financial services industry

Islamic Financial Services Board

March 31, 2011

The IFSB has adopted two new Guidance Notes for the Islamic financial services industry:

1. Guidance Note in Connection with the IFSB Capital Adequacy Standard: The Determination of Alpha in the Capital Adequacy Ratio for Institutions (other than Insurance Institutions) offering only Islamic Financial Services (GN-4)

2. Guidance Note on the Recognition of Ratings by External Credit Assessment Institutions(ECAIs)on Takāful and ReTakāful Undertakings (GN-5)

Neither of the guidance notes that have been adopted have yet been published, but will be available at http://www.ifsb.org/published.php when they are.