5 November 2019, Kuala Lumpur, Malaysia – The Islamic Financial Services Board (IFSB) is pleased to announce the dissemination of country-level data on financial soundness and growth of the Islamic banking systems for Q2 of 2019 from IFSB member jurisdictions. This 14th dissemination completes the availability of quarterly data from Q4 of 2013 to Q2 of 2019. This PISIFIs project currently compiles data from Afghanistan, Bahrain, Bangladesh, Brunei, Egypt, Indonesia, Iran, Jordan, Kazakhstan, Kuwait, Lebanon, Libya, Malaysia, Nigeria, Oman, Pakistan, Palestine, Qatar, Saudi Arabia, Sudan, Turkey, the United Arab Emirates and the United Kingdom.
The Secretary-General of the IFSB, Dr. Bello Lawal Danbatta stated, “IFSB Secretariat has been regularly disseminating country Islamic banking data while reducing gradually the time lag of dissemination.” Acknowledging contribution of Task Force members, Dr. Bello further added, “IFSB Secretariat expects continued support from the Task Force members for timely collection and dissemination of the data.” Dr. Bello mentioned that, “IFSB is launching its new phase (Phase V) under a new Medium-Term Plan (2020-2022), targeting to start dissemination of data from the beginning of 2020 for Islamic insurance (takaful) and Islamic capital market (ICM) sectors.”
The IFSB Task Force on PSIFIs – comprising representatives from 24 participating jurisdictions - has been greatly facilitating the collection of Islamic banking data. A total of six regulatory and supervisory authorities (RSAs) from takaful sector and four RSAs from Islamic capital markets have joined the database project to compile PSFIs database for respective sector. 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.
The PSIFIs Database (full set of data with metadata) is available on the PSIFIs portal at the IFSB website http://psifi.ifsb.org.
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