The IFSB Database Disseminates Data for 2019Q4 for Islamic Banking Systems in Member Countries
Date posted: 30 June 2020
30 June 2020, 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 Q4 of 2019 from IFSB member jurisdictions. This 16th dissemination completes the availability of quarterly data from Q4 of 2013 to Q4 of 2019.
This PSIFIs 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, “the IFSB secretariat has started implementation of new phase (Phase V: 2020-2022) of PSIFIs project from beginning of 2020, while facing global challenges of COVID-19 pandemic.” In this situation, he appreciated the continued support from the Task Force members in collection and submission of the data to the IFSB.” 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.”
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 takāful sector and four RSAs from Islamic capital markets have joined the database project to compile PSIFIs 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 https://psifi.ifsb.org.
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