Featured Product

    IFSB to Include IFSB-17 in the FSB Compendium of Standards

    February 11, 2020

    IFSB announced that its standard on core principles for Islamic Finance Regulation for banking segment (IFSB-17) will be included in FSB Compendium of Standards. The inclusion of this standard in the Compendium has been approved by the Standing Committee on Standards Implementation of FSB during the annual process of updating the Compendium. IFSB also announced the dissemination of country-level data on financial soundness and growth of the Islamic banking systems for the third quarter of 2019 for the IFSB member jurisdictions. This 15th dissemination involved the availability of quarterly data from the fourth quarter of 2013 to the third quarter of 2019. The Prudential and Structural Islamic Financial Indicators (PSIFIs) project involves compilation of data from Afghanistan, Bahrain, Bangladesh, Brunei, Egypt, Indonesia, Iran, Jordan, Kazakhstan, Kuwait, Lebanon, Libya, Malaysia, Nigeria, Oman, Pakistan, Palestine, Qatar, Saudi Arabia, Sudan, Turkey, UAE, and UK.

    The IFSB Task Force on PSIFIs has been committed toward facilitating the collection of Islamic banking data. A total of six regulator and supervisory authorities from takāful and four regulator and supervisory authorities from Islamic capital markets sectors have joined the project to compile PSIFIs database for their respective sectors. The IFSB Secretariat has been regularly conducting capacity building workshops and meetings, with the country representatives of the Task Force, focusing on enhanced clarity and consistency of reporting indicators across jurisdictions.

    The Compendium of Standards lists the various economic and financial standards that are internationally accepted as important for sound, stable, and well-functioning financial systems. The Compendium is an initiative of FSB and is a joint product with the relevant international standard-setting bodies. In 2018, the IMF Executive Board approved the endorsement of the IFSB-17 and the associated assessment methodology for undertaking financial sector assessments and preparing reports on the observance of standards and codes, for both fully Islamic banking systems as well as systemically significant Islamic banking systems in the dual banking markets.

     

    Related Links

    Keywords: International, Banking, Insurance, Securities, Islamic Banking, Data, PSIFI, IFSB-17, Islamic Finance, IFSB

    Related Articles
    News

    EC Delegated Regulation on Specialized Lending Exposures Under CRR

    EC finalized the Delegated Regulation 2021/598 that supplements the Capital Requirements Regulation (CRR or 575/2013) and lays out the regulatory technical standards for assigning risk-weights to specialized lending exposures.

    April 14, 2021 WebPage Regulatory News
    News

    OSFI Consults on Minimum Qualifying Rate for Uninsured Mortgages

    OSFI is proposing new minimum qualifying rate for uninsured mortgages under the Guideline B-20.

    April 13, 2021 WebPage Regulatory News
    News

    ECB Updates List of Supervised Entities in EU in April 2021

    ECB updated the list of supervised entities in EU, with the number of significant supervised entities amounting to 115 as of the March 01, 2021 cut-off date.

    April 12, 2021 WebPage Regulatory News
    News

    OSFI Issues Letter on ICAAP Submission and Internal Audit of BCAR

    OSFI issued a letter to confirm that a formal Internal Capital Adequacy Assessment Process (ICAAP) submission is not required in 2021.

    April 12, 2021 WebPage Regulatory News
    News

    EC Agrees to Prolong Scheme to Support NPL Reduction at Greek Banks

    EC has approved the prolongation of an existing Greek scheme aiming to support the reduction of nonperforming loans, or NPLs, of Greek banks on the basis that it remains free of any State aid.

    April 09, 2021 WebPage Regulatory News
    News

    EIOPA Study Examines Internal Model Market and Credit Risks Under SII

    EIOPA published a report presenting the results of its yearly study on the internal modeling of market and credit risks under the Solvency II Directive, also known as SII.

    April 09, 2021 WebPage Regulatory News
    News

    ESMA Issues Notification Templates for STS Synthetic Securitizations

    ESMA published the interim simple, transparent, and standardized (STS) notification templates for synthetic securitizations, post the recent amendments to the Securitization Regulation.

    April 09, 2021 WebPage Regulatory News
    News

    EBA Issues Erratum for Phase 2 Package of Reporting Framework 3.0

    EBA published an erratum for the technical package on phase 2 of the reporting framework 3.0.

    April 08, 2021 WebPage Regulatory News
    News

    EBA Updates Lists of Entities for Use in Capital Calculations under SA

    EBA published an erratum for the technical package on phase 2 of the reporting framework 3.0.

    April 08, 2021 WebPage Regulatory News
    News

    FED Proposes to Automate Bank Stock Adjustment Using Call Report Data

    FED published a proposal to automate non-merger-related adjustments to member banks' subscriptions to Federal Reserve Bank capital stock.

    April 08, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 6835