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The IFSB Disseminates PSIFIs Data for 2022Q1 on Islamic Banking Systems in Member Countries

Date posted: 29 July 2022

Kuala Lumpur, 29 July 2022 - The Islamic Financial Services Board (IFSB) is pleased to announce the dissemination of country-level Prudential and Structural Islamic Financial Indicators (PSIFIs) data on the Islamic banking sector up to Q1 of 2022 from IFSB member jurisdictions. This 23^rd dissemination of PSIFIs data makes available, quarterly data from 2013Q4 to 2022Q1.  

This PSIFIs project currently compiles data on the Islamic banking sector from 26 jurisdictions which include Afghanistan, Bahrain, Bangladesh, Brunei Darussalam, 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 and countries having well-developed and developing Islamic finance industry. 

The Secretary-General of the IFSB, Dr. Bello Lawal Danbatta stated “The latest dissemination of the PSIFIs data will add to the useability and stability of the database for Islamic banking sector which has already achieved a reasonable maturity with its coverage of more than 95 percent of the global Islamic banking industry. I trust the database will serve as a primary source of credible and quality data for all our stakeholders in meeting their various data requirements and assessment of the Islamic finance stability.” He further added, “Along with the Islamic banking database, we have been working relentlessly to develop similar databases on takāful and Islamic capital markets sectors, which commenced under the current Phase V of the PSIFIs project with the objective of establishing a comprehensive Islamic finance database.” 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 database 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 (ICM) sector have been contributing significantly to the PSIFIs project for their respective sectors. Mentionable that the IFSB completed the 2^nd dissemination of takāful data in August 2021 while the inaugural dissemination for the ICM sector was completed in September 2021. With the roll-out of this first set of ICM sector data, the PSIFIs database has extended its coverage to all three major segments of the Islamic financial services industry (IFSI). Alongside, the IFSB continues its initiatives to include more RSAs from its member jurisdictions to expand the reach of takāful and ICM sector databases to the level parallel to the Islamic banking database. As part of regular activities, 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 well as discussing the contemporary regulatory developments having implications for the PSIFIs. 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://psifi.ifsb.org