The IFSB Disseminates PSIFIs Data along with Detailed Financial Statements (DFS) up to 2021Q4 for Islamic Banking Systems in Member Countries
Date posted: 30 May 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. This 22nd dissemination of PSIFIs data along with 3rd dissemination of DFS is made available, quarterly data from 2013Q4 to 2021Q4.
This PSIFIs project currently compiles data on the Islamic banking sector from 26 jurisdictions namely; Afghanistan, Bahrain, Bangladesh, Brunei, Egypt, Indonesia, Iran, Iraq, Jordan, Kazakhstan, Kuwait, Kyrgyzstan, Lebanon, Libya, Malaysia, Morocco, Nigeria, Oman, Pakistan, Palestine, Qatar, Saudi Arabia, Sudan, Turkey, United Arab Emirates, and the United Kingdom, representing largely the Middle-East, Asia, and Africa regions.
The Secretary-General of the IFSB, Dr. Bello Lawal Danbatta stated “The Phase V of the PSIFIs project, in addition to regular collection of PSIFIs, has initiated collection of more granular level data of Islamic banking sector in the form of Detailed Financial Statements (DFS). 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.
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. The database contains a number
of prudential and soundness indicators, including capital adequacy, asset quality, earnings, leverage, liquidity, and sensitivity to risks. It also provides additional prudential indicators that facilitate analysis of the concentration of banks’ exposures, as well as a set of structural indicators that captures the overall size and structure of the Islamic banking sector. Internally, the datebase is used to draft the IFSB Stability Report, working papers, discussion notes, etc. and externally, it can support banking research, market and industry assessment, market sentiment and even industry estimation.
In addition to the 26 Regulatory and Supervisory Authorities (RSAs) from the Islamic banking sector, 9 RSAs from the takāful sector and 7 RSAs from the Islamic capital market sector have been contributing significantly to the PSIFIs project for their respective sectors. Mentionable that the IFSB completed the 2nd dissemination of Takāful data in August 2021 while the inaugural dissemination for the ICM sector was completed in September 2021. The IFSB Secretariat has been regularly conducting capacity-building workshops/meetings with the country representatives of the Task Force, focusing on enhancing clarity and consistency of compilation and reporting of indicators across jurisdictions. As such, it intends to enhance the quality, quantity, and reliability of the data and information available through the PSIFIs database.
The PSIFIs Database (full set of data with metadata) is available on the PSIFIs portal at the IFSB website https://www.ifsb.org/psifi_03.php
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