The Secretary-General of the IFSB, Mr. Jaseem Ahmed, said, "The issuance of the IFSB's third Islamic Financial Services Industry Stability Report takes place at a time of continuing concern over a fragile and uneven global economic recovery, and the potential for volatility in . The domestic market share for Islamic banking in relation to the total banking segment continued to increase in at least 23 countries, among the 36 jurisdictions covered in the IFSI Stability Report 2021. The report is expected to be officially launched on the 4th July 2018 in Kazakhstan. Islamic finance: A Catalyst for Shared Prosperity. 6 August 2020, Kuala Lumpur - The Islamic Financial Services Boards (IFSB) today issued the eighth edition of its annual flagship publication: the Islamic Financial Services Industry (IFSI) Stability Report 2020. Underlying attributable profit increased to US$21.3 billion. The FSB 2022 work programme aims to maximise the value of the FSB's global and cross-sectoral approach to financial stability policy. This paper aims to highlight provisions that may attract corporate criminal liability (CCL) in legislation and regulations enacted in Malaysia. Table 1 presents the total listed banks and their percentages both in oil-exporting and oil-importing countries. . IFSB also pointed out that Malaysia remained as one of the concentrations of Islamic Fund Assets, constituting 29% of total asset under management . Full-Time faculty at the College of Banking & Financial Studies (CBFS), of Central Bank of Oman. The share of global takful industry in the global IFSI declined marginally to 0.9% with a -14.8% growth y-o-y mainly due to the exchanged rate used for some member jurisdictions. The report summaries the encouraging progress across all four blocks of the Roadmap: Firm-level disclosures. [ ENGLISH | ARABIC ], May 2015Islamic Finance for Asia: Development, Prospects, and Inclusive Growth, May 2014Prospects and Challenges in the Development of Islamic Finance for Bangladesh, September 2013Disclosure Requirements for Islamic Capital Market Products, March 2011Strategies for the Development of Islamic Capital Markets: Infrastructures and Legal Aspects of Islamic Asset Securitisation, March 2011Effective Insolvency Regimes: Institutional, Regulatory and Legal Issues Relating to Islamic Finance, March 2011Regulatory and Legal Challenges in the Islamic Financial Services Industry (Sharah Opinions), March 2010The Changing Landscape of Islamic Finance Imminent Challenges and Future Directions, Publications > Research / Reports / Proceedings, WP-23: Assessing The Effectiveness of Covid-19 Policy Responses in the Islamic Banking Industry, WP-22: Assessing The Effectiveness of the Covid-19 Policy Responses in the, WP-21: Assessing The Effectiveness of the Covid-19 Policy Responses in the Islamic Capital Market, WP-19: Digital Transformation in Islamic Banking, WP-18: Assessing the Stability of the Islamic Banking Industry Amid the COVID-19 Pandemic, WP-17: Effectiveness of Macroprudential Tools for Islamic Banking, WP-16: Regulatory and Supervisory Issues in Takaful Windows, WP-15: Risk-Based Supervision in Islamic Banking, WP-14: Regulatory and Supervisory Issues in Sharah-Compliant Hedging Instruments, WP-13: Intermediaries in the Islamic Capital Market, WP-12: Joint IFSBAMF Working Paper on Money Laundering and Financing of Terrorism (ML/FT) Risks in Islamic Banking, WP-11: Investigating Intersectoral Linkages in Islamic Financial Services Industry, WP-08: Issues Arising From Changes in Takful Capital Requirements, WP-07: Recovery, Resolution and Insolvency Issues for Institutions Offering Islamic Financial Services, WP-06: Strengthening the Financial Safety Net: The Role and Mechanisms of Sharah Compliant Deposit Insurance Schemes (SCDIS), WP-05: The IFSB-ISRA Joint Working Paper on Sharah Non-Compliance Risk in the Banking Sector: Impact on Capital Adequacy Framework of Islamic Banks, WP-04: Comparative Study on the Implementation of Selected IFSB Standards, WP-03: Working Paper on Financial Consumer Protection in Islamic Finance, WP-02: Working Paper on Evaluation of Core Principles Relevant to Islamic Finance Regulation, WP-01: Working Paper on Strengthening the Financial Safety Net: The Role of Shar`ah-compliant Lender-of Last-Resort (SLOLR) Facilities as an Emergency Financing Mechanism, The IFSB-IAIS Joint Paper on Issues in Regulation and Supervision of Microtakful (Islamic Microinsurance), Issues in Regulation and Supervision of Takful (Islamic Insurance) by IFSB and International Association of Insurance Supervisors, Islamic Financial Services Industry Stability Report 2022, Islamic Financial Services Industry Stability Report 2021, Islamic Financial Services Industry Stability Report 2020, Islamic Financial Services Industry Stability Report 2019, Islamic Financial Services Industry Stability Report 2018, Islamic Financial Services Industry Stability Report 2017, Islamic Financial Services Industry Stability Report 2016, Islamic Financial Services Industry Stability Report 2015, Islamic Financial Services Industry Stability Report 2014, Islamic Financial Services Industry Stability Report 2013, IFSB-IRTI-IDB Islamic Finance and Global Stability Report, Islamic Financial Services Industry Development : Ten-Year Framework and Strategies A MID-TERM REVIEW, Islamic Financial Services Industry Development: Ten-Year Framework and Strategies, IFSB-World Bank Joint Publication on Realising The Value Proposition of the, Islamic Finance for Asia: Development, Prospects, and Inclusive Growth, Prospects and Challenges in the Development of Islamic Finance for Bangladesh, Disclosure Requirements for Islamic Capital Market Products, Strategies for the Development of Islamic Capital Markets: Infrastructures and Legal Aspects of Islamic Asset Securitisation, Effective Insolvency Regimes: Institutional, Regulatory and Legal Issues Relating to Islamic Finance, Regulatory and Legal Challenges in the Islamic Financial Services Industry (Sharah Opinions), The Changing Landscape of Islamic Finance Imminent Challenges and Future Directions. This 22nd dissemination of PSIFIs data along with 3rd dissemination of DFS is made available, quarterly data from 2013Q4 to 2021Q4. ), Research . I am excited to announce that four Hejaz funds have been certified by the Responsible Investment Association Australasia (RIAA). Data for sukk outstanding and Islamic funds are for full-year 2020. . Build Your Own Report. FSB Secretary General Dietrich Domanski explains the FSB's assessment of risks arising from crypto-assets in an interview on Times Radio. About the International Sustainability Standards Board. . The Financial Stability Report (FSR) is a biannual report released by the Reserve Bank of India (RBI). Mentionable that the IFSB completed the 2nd dissemination of Takafuldata in August 2021 while the inaugural dissemination for the ICM sector was completed in September 2021. 22 August 2022 IFSB Visits Tanzania, Heeding to the Call of Growing Islamic Finance Interest in Africa; 19 . Date posted: 27 July 2021 27 July 2021, Kuala Lumpur, Malaysia - The IFSB is pleased to announce that the ninth edition of its flagship publication - Islamic Financial Services Industry (IFSI) Stability Report 2021 will be launched during its 2 nd CEO's Forum, via online platform on . Responses should be sent to fsb@fsb.org by 30 June 2022 with the title "Supervisory and Regulatory Approaches to Climate-related Risks". and externally, it can support banking research, market and industry assessment, market sentiment and even industry estimation. Dr. Bello highlighted that based on various analyses contained in the IFSI Stability Report 2021, the performance of the global IFSI projected a sense of optimism in the short term. Content Type (s): Press, Speeches, Video and Audio Source (s): FSB Policy Area (s): Crypto Assets, Vulnerabilities Assessments. Bank Negara Malaysia (BNM) released the Financial Stability Review for the First Half of 2022 today. Watch on. The organisation promotes and enhances the soundness and stability of the Islamic . Fitch has contributed a box article titled "Global Islamic Financial Services Industry Outlook in 2022" to the 'Islamic Financial Services Industry Stability Report 2022', which is the flagship annual publication of the Islamic Financial Services Board (IFSB). The database contains a number. Our contribution to the Islamic Financial Services Board flagship annual publication "ISLAMIC FINANCIAL SERVICES INDUSTRY STABILITY REPORT 2022" titled "Global Islamic Financial Services Industry Outlook in 2022" (page 55-63). . We expect the DFS will not only contribute to the quality of the PSIFIs, but also will facilitate enhanced analysis of the soundness and structural development of the Islamic banking sector. He further stated, At the IFSB, we are working relentlessly to enhance the quality, completeness and granularity of the PSIFIs data with the objective of establishing a sustainable and comprehensive database for the Islamic financial services industry. In this regard, he expressed his profound gratitude to the Task Force members as well as other supporting parties for their continued support and cooperation towards achieving this objective. January 2021. The ICM sector as at end of 2019 accounts for 26.5% of the global IFSI assets on the back of a positive performance due to the sovereign and multilateral ukk issuances in key Islamic finance markets to support fiscal financing and eco-friendly environment projects. The . Kuala Lumpur: IFSB. Key points: There are increasing downside risks to the global economic outlook. 17 August 2022. This work programme details the FSB's planned work and provides an indicative timeline of main publications for 2022. More specifically, it uses normative legal research by focusing on primary and secondary . Ismail, A.G. (2013). Internally, the datebase is used to draft the IFSB Stability Report, working papers, discussion notes, etc. The PSIFIs data on the Islamic banking sector provides sectoral country-level data covering full-fledged Islamic banks and Islamic windows of conventional banks in the respective jurisdictions. (2022) show that Islamic stock market serves as a diversifier asset during the GFC and a safe-haven asset during COVID-19 for G7 stock markets. The IFSB Strategic Performance Plan (SPP) 2022-2024 was developed based on the four existing Focus Areas of the SPP 2019-2021, along with directions and guidance from the . 18 February 2022. Kuala Lumpur, 30 May 2022 - The Islamic Financial Services Board (IFSB) is pleased to announce the dissemination of country-level Prudential and Structural Islamic Financial Indicators (PSIFIs) data including the Detailed Financial Statements (DFS) on the Islamic banking sector up to Q4 of 2021 from IFSB member jurisdictions. He has published his research in top-ranking finance journals including the Journal of Banking & Finance, Journal of financial stability, Pacific-Basin Finance Journal, and Journal of International Financial Markets, Institution & Money, among several others. The Islamic banking segment retained its dominance in the global IFSI. The IFSI Stability Report 2021 is available for download from the IFSB website, www.ifsb.org. 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