The Islamic Financial Services Board (IFSB) has released country-level data on financial soundness and growth of Islamic banking systems for Q419 from IFSB member jurisdictions. This 16th dissemination makes quarterly data available from Q413 to Q419.
This Prudential and Structural Islamic Financial Indicators (PSIFIs) project currently compiles data from Afghanistan, Bahrain, Bangladesh, Brunei, Egypt, Indonesia, Iran, Jordan, Kazakhstan, KSA, Kuwait, Lebanon, Libya, Malaysia, Nigeria, Oman, Pakistan, Palestine, Qatar, Sudan, Turkey, the UAE and the UK.
Secretary-General of the IFSB Dr Bello Lawal Danbatta stated, “The IFSB secretariat has started implementation of new phase (Phase V: 2020-2022) of the PSIFIs project from beginning of 2020, while facing global challenges of COVID-19 pandemic.”
He further highlighted that “the IFSB is committed in implementing all the components of PSIFIs project under this phase in terms of expanding coverage to takāful and Islamic capital markets as well as extending the databases to new IFSB member jurisdictions.” Takaful (التكافل) is the Islamic financial equivalent of insurance.
The IFSB Task Force on PSIFIs – comprising representatives from 24 participating jurisdictions - has been facilitating the collection of Islamic banking data. Six regulatory and supervisory authorities (RSAs) from the takāful sector and four from Islamic capital markets have joined the database project to compile PSIFIs database for their sectors.
The IFSB Secretariat has been regularly conducting capacity building workshops/meetings with the country representatives of the Task Force, where three international organisations – the International Monetary Fund (IMF), Islamic Development Bank (IDB) and the Asian Development Bank (ADB) – are also the members, focusing on enhanced clarity and consistency of reporting indicators across jurisdictions.
Details:
Access the PSIFIs Database (all data, with metadata) at the PSIFIs portal.