Rasheed Mohammed Al-Maraj, governor of the Central Bank of Bahrain, chaired the latest meeting of the Council of the Islamic Financial Services Board (IFSB) in which two new sets of guiding principles were adopted.
The meeting was held in Manama, Bahrain, on March 29, and attendees agreed on guidelines about both liquidity risk management and stress testing for institutions offering Islamic financial services. Islamic insurance (takaful) institutions and Islamic collective investment schemes are
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