Improved Islamic banking performance according to new report

The Islamic Financial Services Board has published country-level data on financial soundness and growth of the Islamic banking systems for Q4 of 2016 and Q1 of 2017 from 17 IFSB member jurisdictions. This seventh dissemination completes the availability of quarterly data from Q4 of 2013 to Q1 of 2017.

Acting secretary-general of the IFSB, Zahid ur Rehman Khokher said, “I am pleased that the dissemination of the IFSB’s Prudential and Structural Islamic Financial Indicators database project has reached 14 quarters, and that it will soon be extending to four new jurisdictions. This means that in 2018, the PSIFIs database will comprise data from 21 contributing countries, bringing the coverage of the data to over 95 per cent of the global Islamic banking activity, an increase from the existing 90 per cent.”

He went on to say, “The IFSB also plans to release sector level balance sheets of entire jurisdictions for the Islamic banking market starting early next year.” Khokher further mentioned that, “following the approval of the IFSB Council to extend the coverage of this project to the Takaful and Islamic capital market sectors, the IFSB has completed a comprehensive survey on the selection of soundness indicators for these two sectors, and is in the midst of updating the PSIFIs Compilation Guide.” The survey was conducted among the IFSB’s member regulatory and supervisory authorities.

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