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Regulating Islamic Financial Institutions: The Nature of the Regulated

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dc.contributor.authorEl-Hawary, Dahlia
dc.contributor.authorGrais, Wafik
dc.contributor.authorIqbal, Zamir
dc.date.accessioned2013-08-01T18:18:30Z
dc.date.available2013-08-01T18:18:30Z
dc.date.issued2004-03
dc.description.abstractMore than 200 Islamic financial institutions (IFIs) operate in 48 countries. Their combined assets exceed $200 billion, with an annual growth rate between 12 percent and 15 percent. The regulatory regime governing IFIs varies significantly across countries. A number of international organizations have been established with the mandate to set standards that would strengthen and harmonize prudential regulations as they apply to IFIs. The authors contribute to the discussion on the nature of prudential standards to be developed. They clarify the risks that IFIs are exposed to and the type of regulations that are needed to systematically manage them. They consider that the industry is still in a development process whose eventual outcome is the convergence of the practice of Islamic financial intermediation with its conceptual foundations. The authors contrast the risks and regulations needed in the case of Islamic financial intermediation operating according to core principles and current practice. They outline implications for approaches to capital adequacy, licensing requirements, and reliance on market discipline. They then propose an organization of the industry that would allow it to develop in compliance with its principles and prudent risk management, and facilitate its regulation.en
dc.identifierhttp://documents.worldbank.org/curated/en/2004/03/3935593/regulating-islamic-financial-institutions-nature-regulated
dc.identifier.doi10.1596/1813-9450-3227
dc.identifier.urihttps://hdl.handle.net/10986/14732
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, D.C.
dc.relation.ispartofseriesPolicy Research Working Paper;No.3227
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING
dc.subjectACCOUNTING POLICIES
dc.subjectACCOUNTING STANDARDS
dc.subjectACCOUNTING TREATMENT
dc.subjectACCOUNTS
dc.subjectAGRICULTURE
dc.subjectALM
dc.subjectASSET BACKED SECURITIES
dc.subjectAUDITING
dc.subjectBALANCE SHEET
dc.subjectBALANCE SHEETS
dc.subjectBANKING SERVICES
dc.subjectBANKING SUPERVISION
dc.subjectBANKS
dc.subjectCAPITAL ADEQUACY
dc.subjectCENTRAL BANK
dc.subjectCENTRAL BANK OF EGYPT
dc.subjectCOMPARATIVE ADVANTAGE
dc.subjectCONCEPTUAL FRAMEWORK
dc.subjectCREDIT RISK
dc.subjectDEBT
dc.subjectDEBT SECURITIES
dc.subjectDEMAND DEPOSITS
dc.subjectDEPOSITS
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC RELATIONS
dc.subjectECONOMICS
dc.subjectELECTRONIC FUNDS
dc.subjectELECTRONIC FUNDS TRANSFER
dc.subjectEXPENDITURES
dc.subjectEXPLOITATION
dc.subjectFACE VALUE
dc.subjectFINANCIAL ASSETS
dc.subjectFINANCIAL INNOVATION
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INTERMEDIARIES
dc.subjectFINANCIAL INTERMEDIATION
dc.subjectFINANCIAL SERVICES
dc.subjectFINANCIAL SYSTEMS
dc.subjectFINANCIAL TRANSACTIONS
dc.subjectFOREIGN EXCHANGE
dc.subjectGROWTH RATE
dc.subjectINCOME
dc.subjectINFORMATION DISCLOSURE
dc.subjectINSURANCE
dc.subjectINTEREST RATE
dc.subjectINTEREST RATES
dc.subjectINVESTMENT BANKS
dc.subjectISLAMIC BANK
dc.subjectISLAMIC BANKING
dc.subjectLEASING
dc.subjectLEGAL LIABILITY
dc.subjectLIABILITY
dc.subjectLIQUIDITY
dc.subjectMARKET DISCIPLINE
dc.subjectMARKET INSTRUMENTS
dc.subjectMARKET RISK
dc.subjectMATURITIES
dc.subjectNET WORTH
dc.subjectOPERATING LEASE
dc.subjectOPERATIONAL RISK
dc.subjectPOLICY MAKERS
dc.subjectPORTFOLIO DIVERSIFICATION
dc.subjectPORTFOLIOS
dc.subjectPRICE FLUCTUATIONS
dc.subjectPROFITABILITY
dc.subjectPROMISSORY NOTES
dc.subjectPRUDENTIAL REGULATIONS
dc.subjectPUBLIC POLICY
dc.subjectREAL SECTOR
dc.subjectREGULATORY FRAMEWORK
dc.subjectRESERVE REQUIREMENT
dc.subjectRESERVE REQUIREMENTS
dc.subjectRISK AVERSION
dc.subjectRISK MANAGEMENT
dc.subjectRISK SHARING
dc.subjectSAVINGS
dc.subjectSECURITIES
dc.subjectSHAREHOLDERS
dc.subjectSOLVENCY
dc.subjectSYSTEMIC RISK
dc.subjectTAKEOVER
dc.subjectTHEORETICAL MODELS
dc.subjectTRANSPARENCY
dc.subjectUNIVERSAL BANKS
dc.subjectVENTURE CAPITAL
dc.subjectWORKING CAPITAL INTERMEDIARY FINANCIAL INSTITUTIONS
dc.subjectFIDUCIARY RESPONSIBILITIES
dc.subjectRISK
dc.subjectBROKERS
dc.subjectINTERMEDIATION
dc.subjectWITHDRAWALS
dc.subjectGOVERNANCE
dc.subjectTRANSACTION SERVICES
dc.subjectCOMMODITY TRADE
dc.titleRegulating Islamic Financial Institutions: The Nature of the Regulateden
dspace.entity.typePublication
okr.crosscuttingsolutionareaJobs
okr.crossref.titleRegulating Islamic Financial Institutions: The Nature of the Regulated
okr.date.doiregistration2025-04-10T07:21:50.294927Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2004/03/3935593/regulating-islamic-financial-institutions-nature-regulated
okr.globalpracticeSocial Protection and Labor
okr.globalpracticeFinance and Markets
okr.globalpracticeGovernance
okr.globalpracticeFinance and Markets
okr.guid918931468761945251
okr.identifier.doi10.1596/1813-9450-3227
okr.identifier.externaldocumentum000009486_20040603173425
okr.identifier.internaldocumentum3935593
okr.identifier.reportWPS3227
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2004/06/03/000009486_20040603173425/Rendered/PDF/wps3227islamic.pdfen
okr.topicEconomic Theory and Research
okr.topicFinance and Financial Sector Development::Financial Intermediation
okr.topicBanks and Banking Reform
okr.topicLaw and Development::Banking Law
okr.topicEnvironmental Economics and Policies
okr.topicInternational Terrorism and Counterterrorism
okr.topicSocial Protections and Labor::Labor Policies
okr.topicPayment Systems and Infrastructure
okr.unitOff of Sr VP Dev Econ/Chief Econ (DECVP)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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