Review on Financial Sector Assessment Program (FSAP) and its Adoption of Proposed Islamic Financial Sector Assessment Program (IFSAP)
DOI:
https://doi.org/10.21111/tijarah.v5i2.3923Keywords:
Financial Sector Assessment Program, Financial Stability, Regulatory and Supervisory Framework, Financial system infrastructureAbstract
The Financial Sector Assessment Program (FSAP) states that a sound and well-functioning financial system is supported by three pillars to sustain orderly financial development and stability which relate to the macroeconomic factors, regulatory and supervisory framework, and the infrastructures. There is an urgency to review to what extent FSAP has adopted Proposed Islamic Financial Sector Assessment Program (IFSAP) Template. This note will try to review the FSAP on some selected countries and analyse the influence of proposed IFSAP to the FSAP. Result of this review shows that, based on 2013 data, the IMF-World Bank has adopted in a limited way the proposed template by IRTI-IDB. Overall, there is a very limited significance of change in the of FSAP model.
References
Ernst & Young. (2012). World Islamic Banking Competitiveness Report 2013, December.
FSAP Documents, http://lnweb90.worldbank.org/FPS/fsapcountrydb.nsf/FSAPexternalcountryreports?OpenPage&count=5000#S
IMF-WB. (2005). Financial Sector Assessment Program—Review, Lessons, and Issues Going Forward, the International Monetary Fund and the World Bank, Approved by Tomás J.T. Baliño and Cesare Calari, February 22
IRTI-IDB. (2010). Towards Developing a Template to Assess Islamic Financial Services Industry (IFSI) in the World Bank-IMF Financial Sector Assessment Program (FSAP), Islamic Research and Training Institute-Islamic Development Bank Group, March.
Muljawan, Dadang. (2011). Financial Sector Assessment Program for Islamic Financial System (iFSAP), IRTI Research Seminar in Islamic Economics, Banking and Finance 1433H/2012G, 25 December.
Omar, Dr. Azmi, iFSAP – Development and Macroprudential Policy, Islamic Research and Training Institute-Islamic Development Bank Group.
FSAP Documents, http://lnweb90.worldbank.org/FPS/fsapcountrydb.nsf/FSAPexternalcountryreports?OpenPage&count=5000#S
IMF-WB. (2005). Financial Sector Assessment Program—Review, Lessons, and Issues Going Forward, the International Monetary Fund and the World Bank, Approved by Tomás J.T. Baliño and Cesare Calari, February 22
IRTI-IDB. (2010). Towards Developing a Template to Assess Islamic Financial Services Industry (IFSI) in the World Bank-IMF Financial Sector Assessment Program (FSAP), Islamic Research and Training Institute-Islamic Development Bank Group, March.
Muljawan, Dadang. (2011). Financial Sector Assessment Program for Islamic Financial System (iFSAP), IRTI Research Seminar in Islamic Economics, Banking and Finance 1433H/2012G, 25 December.
Omar, Dr. Azmi, iFSAP – Development and Macroprudential Policy, Islamic Research and Training Institute-Islamic Development Bank Group.
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Published
2019-12-01
How to Cite
Affandi, M. T. (2019). Review on Financial Sector Assessment Program (FSAP) and its Adoption of Proposed Islamic Financial Sector Assessment Program (IFSAP). Al Tijarah, 5(2), 115–128. https://doi.org/10.21111/tijarah.v5i2.3923
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