Joint Islamic Finance Task Team (IFTT)

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Joint Islamic Finance Task Team (IFTT)

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Mandate and scope

• The joint Islamic Finance Task Team (IFTT) will advise the Inter-secretariat Working Group on National Accounts (ISWGNA) and the IMF’s Committee on Balance of Payments Statistics (BOPCOM) on methodological issues related to Islamic finance in the context of updates to the System of National Accounts 2008 (2008 SNA) and the sixth edition of the Balance of Payments and International Investment Position Manual (BPM6).
• The IFTT will be operational mostly throughout Phase I of the update process (April 2020–September 2021).
• The IFTT may be consulted during Phase II (drafting of the 2025 SNA and the BPM7 chapters) on an as-needed basis if significant issues arise during the worldwide consultation process.
• Further details on the mandate and operations; guidance notes and working procedures; composition; and key issues to be addressed by the IFTT are provided in the Terms of Reference.

Global consultation process

• The purpose of the global consultation is to receive feedback from worldwide compilers/users of macroeconomic statistics not involved in the update process, to inform proposals to be presented for formal approval to the IMF’s Committee on Balance of Payments Statistics (BOPCOM)/Advisory Expert Group on National Accounts (AEG).
• Each Guidance Note (GN) will be available for a period of four-weeks for global consultation after its posting.
• The BPM6 Update: Compendium of Research Issues lists topics on which GNs will be prepared by the BPM6 Update Task Teams and made available for global consultation.
• If respondents want to provide comments on a GN, a survey is provided alongside the GN for submissions.

Documentation and deliverables

• Terms of Reference
• Compendium of Research Issues
• Approved Guidance Notes
• Additional Resources
• Draft Guidance Note IF. 1 (English)
• Draft Guidance Note IF. 1 (Arabic)
• Copy of Survey for GN IF. 1 (English)
• Copy of Survey for GN IF. 1 (Arabic)

Content in this bundle

• Compendium of Issues Note
  • Compendium of Issues Note (Markdown version)
  • Compendium of Issues Note (PDF)
• Compendium of Issues Note
  • Compendium of Issues Note (Markdown version)
  • Compendium of Issues Note (PDF)
• Draft Guidance Note IF. 1
  • Draft Guidance Note IF. 1 (Markdown version)
  • Draft Guidance Note IF. 1 (PDF)
• Comprehensive internationally-endorsed recommendations to account for Islamic finance
  • Comprehensive internationally-endorsed recommendations to account for Islamic finance (Markdown version)
  • Comprehensive internationally-endorsed recommendations to account for Islamic finance (PDF)
• IF.1 التمويل الإسلامي في نظام الحسابات القومية وإحصاءات القطاع الخارجي
  • IF.1 التمويل الإسلامي في نظام الحسابات القومية وإحصاءات القطاع الخارجي (Markdown version)
  • IF.1 التمويل الإسلامي في نظام الحسابات القومية وإحصاءات القطاع الخارجي (PDF)
• IF.1 Islamic finance in the System of National Accounts and External Sector Statistics, IMF IFTT
  • IF.1 Islamic finance in the System of National Accounts and External Sector Statistics, IMF IFTT (Markdown version)
  • IF.1 Islamic finance in the System of National Accounts and External Sector Statistics, IMF IFTT (PDF)
• Terms of Reference — Joint Task Team on Islamic Finance
  • Terms of Reference — Joint Task Team on Islamic Finance (Markdown version)
  • Terms of Reference — Joint Task Team on Islamic Finance (PDF)

References

• Back to BPM6 Homepage
• Approved Guidance Notes