Multi-Country Report: Ensuring Financial Stability in Countries with Islamic Banking-Case Studies-Press Release; Staff Report

IMF Staff Country Reports, June 20, 2017

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Presents country experiences with reforms to strengthen regulatory oversight of the Islamic banking sector.
Country experiences yield a number of important lessons and policy options with implications for the stable and sound development of Islamic banking.
An enabling regulatory and institutional framework and a level playing field for conventional and Islamic banks is critical for the sound and stable growth of the Islamic banking industry.
Country experiences underscore the importance of providing an enabling framework while letting market forces determine the size of the industry.

Strengthen regulatory oversight of the Islamic banking sector to support financial stability.
Ensure an enabling regulatory and institutional framework for Islamic banking.
Maintain a level playing field between conventional and Islamic banks.
Allow market forces to determine the size of the Islamic banking industry while ensuring stability through regulation.