Resolution Frameworks for Islamic Banks

By Elsie Addo Awadzi, Carine Chartouni, Mario Tamez

November 24, 2015

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Elsie Addo Awadzi, Carine Chartouni, and Mario Tamez. Resolution Frameworks for Islamic Banks, (USA: International Monetary Fund, 2015) 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

Islamic banking is growing rapidly and its potential impact on global financial stability cannot be underestimated. International standards for resolving banks have evolved after the global financial crisis, culminating in the Financial Stability Board’s (“FSB”) Key Attributes of Effective Resolution Regimes for Financial Institutions. This paper examines the applicability of the Key Attributes to the resolution of Islamic banks. It concludes that a number of issues would need to be addressed, owing to Islamic banks’ unique governance structures and balance sheets. It recommends international guidance for the design of robust Shari`ah -compliant resolution frameworks for jurisdictions with Islamic banks.

Subject: Asset and liability management, Bank resolution, Bank resolution framework, Banking, Financial crises, Financial services, Islamic banking, Legal support in revenue administration, Revenue administration, Special purpose vehicle

Keywords: Account holder, Asset portfolio, Balance sheet, Bank management, Bank resolution, Bank resolution framework, Global, Islamic bank, Islamic bank resolution, Islamic banking, Islamic banks, Legal support in revenue administration, Originating bank, Resolution authority, Resolution framework, RRPs help resolution authorities, Special purpose vehicle, WP

Publication Details

Pages:

34
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2015/247
Stock No:

WPIEA2015247
ISBN:

9781513503219
ISSN:

1018-5941

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