Islamic Banking Regulation and Supervision: Survey Results and Challenges

Author/Editor:

In W Song ; Carel Oosthuizen

Publication Date:

December 12, 2014

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

The growing presence of Islamic banking needs to be accompanied by the development of effective regulation and supervision. This paper examines the results of the survey conducted by the International Monetary Fund to document international experiences and country practices related to legal and prudential frameworks governing Islamic banking activities. Although a number of countries have made considerable progress in creating legal, regulatory, and supervisory frameworks that accommodate Islamic banking, there are substantial differences. This paper also identifies a number of challenges faced by regulatory and supervisory agencies regarding Islamic banking.

Series:

Working Paper No. 2014/220

Subject:

Banking Capital adequacy requirements Financial regulation and supervision Financial services Islamic banking Islamic banking supervision Legal support in revenue administration Market risk Revenue administration

English

Publication Date:

December 12, 2014

ISBN/ISSN:

9781498380928/1018-5941

Stock No:

WPIEA2014220

Pages:

42

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