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The IFSB Announces the Release of First Dissemination of Detailed Financial Statements of Member Countries

Date posted: 8 August 2019

8 August 2019, Kuala Lumpur, Malaysia – The Islamic Financial Services Board (IFSB) is pleased to announce the first dissemination of country-level data on detailed financial statements (DFS) of the Islamic banking systems for Q3 of 2017 and four quarters of 2018. This press release covers completed DFS data from seven of the 24 Prudential and Structural Islamic Financial Indicators (PSIFIs) member countries. The DFS data compiling countries include Afghanistan, Bangladesh, Malaysia, Pakistan, Palestine, Turkey, and the United Arab Emirates. The IFSB Secretariat expects that number of PSIFIs member countries for reporting DFS data will increase gradually.

The detailed financial statements cover three types of statements - (i) income and expense statements, (ii) consolidated statement of financial position, and (iii) memorandum items. Respective member countries provide aggregated Islamic banking data separately for full-fledged Islamic banks and Islamic windows. The DFS data support compilation efforts at the country level by specifying how core prudential, additional prudential and structural indicators of PSIFIs are to be defined through underlying data of DFS for Islamic banks.

“The launching of the DFS database represents an important milestone of PSIFIs project for Islamic finance database taking into account the analytical needs”, said the Secretary-General of the IFSB, Dr. Bello Lawal Danbatta. He further added, “the new DFS database helps to enhance greater comparability of data across countries – in line with the IFSB’s objective for the stability and soundness of financial system of the member countries”.

The DFS Database (full set of data with metadata) is available on the PSIFIs portal at the IFSB website https://psifi.ifsb.org.

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