{
  "title": "Islamic Banking Regulation and Supervision: Survey Results and Challenges",
  "publication": "IMF Working Papers, December 12, 2014",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/31/islamic-banking-regulation-and-supervision-survey-results-and-challenges-42522",
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  "summary": "The growing presence of Islamic banking needs to be accompanied by the development of effective regulation and supervision.",
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    {
      "heading": "Summary",
      "content": "- Authors: In W Song, Carel Oosthuizen\n- Date: December 12, 2014\n- Core message: The growing presence of Islamic banking needs to be accompanied by the development of effective regulation and supervision.\n- Purpose: Examines results of the IMF survey documenting international experiences and country practices related to legal and prudential frameworks governing Islamic banking activities.\n- High-level conclusion: Although a number of countries have made considerable progress in creating legal, regulatory, and supervisory frameworks that accommodate Islamic banking, there are substantial differences; the paper also identifies a number of challenges faced by regulatory and supervisory agencies regarding Islamic banking."
    },
    {
      "heading": "Key findings and observations",
      "content": "- Progress and heterogeneity:\n  - A number of countries have made considerable progress in creating legal, regulatory, and supervisory frameworks that accommodate Islamic banking.\n  - There are substantial differences across jurisdictions in how legal, regulatory, and supervisory frameworks for Islamic banking have been developed and implemented.\n- Focus areas examined (as described in the paper):\n  - Legal and prudential frameworks governing Islamic banking activities.\n  - International experiences and country practices related to Islamic banking regulation and supervision."
    },
    {
      "heading": "Challenges identified",
      "content": "- The paper identifies a number of challenges faced by regulatory and supervisory agencies regarding Islamic banking (specific challenges are described in the full paper)."
    },
    {
      "heading": "Subject tags (as listed)",
      "content": "- Banking\n- Capital adequacy requirements\n- Financial regulation and supervision\n- Financial services\n- Islamic banking\n- Islamic banking supervision\n- Legal support in revenue administration\n- Market risk\n- Revenue administration"
    },
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      "heading": "Keywords (as listed)",
      "content": "- Africa\n- Asia and Pacific\n- bank\n- bank distress resolution framework\n- bank resolution\n- banking product\n- Banking supervision\n- Capital adequacy requirements\n- conventional bank\n- Europe\n- Global\n- internal auditor\n- Islamic banking\n- Islamic banking supervision\n- Islamic banks\n- Legal support in revenue administration\n- Market risk\n- regulatory framework\n- Shariah compliance\n- Shariah compliance officer\n- Sub-Saharan Africa\n- supervisory authority\n- WP\n\n---\n\n Content in this bundle\n\n- wp14220\n  - wp14220 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wp14220 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/islamic-banking-regulation-and-supervision-survey-results-and-challenges-42522"
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    "Authors: In W Song, Carel Oosthuizen",
    "Published: December 12, 2014",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781498380928.001",
    "Authors: In W Song, Carel Oosthuizen",
    "Date: December 12, 2014",
    "Core message: The growing presence of Islamic banking needs to be accompanied by the development of effective regulation and supervision.",
    "Purpose: Examines results of the IMF survey documenting international experiences and country practices related to legal and prudential frameworks governing Islamic banking activities.",
    "High-level conclusion: Although a number of countries have made considerable progress in creating legal, regulatory, and supervisory frameworks that accommodate Islamic banking, there are substantial differences; the paper also identifies a number of challenges faced by regulatory and supervisory agencies regarding Islamic banking.",
    "Progress and heterogeneity:",
    "Focus areas examined (as described in the paper):",
    "The paper identifies a number of challenges faced by regulatory and supervisory agencies regarding Islamic banking (specific challenges are described in the full paper).",
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    "Islamic banking",
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    "Islamic banks",
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