Islamic Banking Regulation and Supervision: Survey Results and Challenges

December 12, 2014

Preview Citation

Format: Chicago

In W Song, and Carel Oosthuizen. Islamic Banking Regulation and Supervision: Survey Results and Challenges, (USA: International Monetary Fund, 2014) accessed November 21, 2024

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.

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

Keywords: Africa, Asia and Pacific, Bank, Bank distress resolution framework, Bank resolution, Banking product, Banking supervision, Capital adequacy requirements, Conventional bank, Europe, Global, Internal auditor, Islamic banking, Islamic banking supervision, Islamic banks, Legal support in revenue administration, Market risk, Regulatory framework, Shariah compliance, Shariah compliance officer, Sub-Saharan Africa, Supervisory authority, WP

Publication Details

Pages:

42
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2014/220
Stock No:

WPIEA2014220
ISBN:

9781498380928
ISSN:

1018-5941

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