SESRIC


Consultative Meeting on Developing Islamic Finance Industry Database for OIC Member Countries
 
Date : 24 September 2017 Venue : Bodrum, Muğla Turkey

SESRIC organised the Consultative Meeting (CM) on Developing Islamic Finance Industry Database for OIC Member Countries on 24 September 2017 in Muğla, Republic of Turkey.

The Meeting was attended by 30 delegates from 15 national institutions of 10 OIC Member Countries, namely Bangladesh, Indonesia, Iran, Jordan, Kuwait, Pakistan, Qatar, Saudi Arabia, Turkey and United Arab Emirates. Representatives of General Council for Islamic Banks and Financial Institutions (CIBAFI), Islamic Financial Services Board (IFSB), International Islamic Financial Market (IIFM), Islamic Research and Training Institute (IRTI) of Islamic Development Bank Group, United Nations Statistics Division (UNSD) and World Bank Global Islamic Finance Development Center also participated in the meeting.

The main objectives of the CM were to brief the Central Banks and Monetary Authorities, National Statistical Offices and other Financial Regulatory and Supervisory Authorities of OIC member countries about the SESRIC Project on Developing Islamic Finance Industry Database and ultimately gather feedback from the representatives of the stakeholders.

In his welcoming speech, H.E. Amb. Musa KULAKLIKAYA, Director General of SESRIC, emphasized that Islamic finance is indeed both the concern and challenge of Muslim communities in the world; hence the problems of data issues of this niche area should be prioritised and handled by Muslim countries and OIC mainly. Amb. Kulaklıkaya stated that SESRIC, in collaboration with the relevant national and international stakeholders, aims to construct a reliable, consistent and user friendly Islamic Finance Industry Database for OIC Member Countries at country level. In his speech, it has been also underlined that given its mandate as the focal body of statistics related activities in OIC structure and hosting the OICStat Database, the engagement of SESRIC in this project as the ultimate host of the database is crucially important.

In the first session of the Consultative Meeting, Dr. Nihat Gümüş, the consultant of the project, made a presentation titled “The Islamic Finance Industry Database for OIC Member Countries” briefing the audience about the objective and rationale of the project.

The second session titled “Current Practices of International Organisations and OIC Member Countries on the Production of Islamic Finance Data” started with the presentations of CIBAFI, IFSB, IRTI, UNSD and World Bank informed the audience about their existing databases on this theme. Additionally, Bangladesh, Iran, Jordan, Kuwait, Turkey, United Arab Emirates shared their country experiences in collection, collation and dissemination of Islamic finance data in their countries.

During the brainstorming session on “Strategic Roadmap and Conceptual Framework for Constructing OIC Islamic Finance Industry Database”, the participants discussed the proposed strategic roadmap and conceptual framework for constructing OIC Islamic Finance Industry Database by SESRIC through a set of questions that was designed to foster deliberations.

In the last session of the meeting, participants exchanged views on the draft conclusions document of the meeting for the consideration of relevant stakeholders and also members of OIC Statistical Commission (OIC-StatCom).

Documents

Opening Session

  • Welcoming Speech of H.E. Ambassador Musa KULAKLIKAYA, Director General of SESRIC (English)

Presentations

Session I: Briefing on the Project on “Developing an Islamic Finance Industry Database for OIC Member Countries”

  • Islamic Finance Industry Database for OIC Member Countries, SESRIC (English)

Session II: Current Practices of International Organisations and OIC Member Countries on the Production of Islamic Finance Data

  • Islamic Financial Industry Information (IFII) Project, CIBAFI&IRTI (English)
  • The IFSB Prudential and Structural Islamic Financial Indicators (PSIFIs) Programme – Current Status and Future Direction, IFSB (English)
  • Islamic Finance in the System of National Accounts, UNSD (English)
  • Data Issues in Islamic Financial Industry: World Bank Perspective, World Bank GIDFC (English)
  • Current Practices of Bangladesh Bureau of Statistics on Data Collection, Collation and Dissemination Islamic Banking and Finance Statistics, Bangladesh (English)
  • Collecting Information and Ways to Disseminate them for Public in Iran’s Capital Market, Iran (English)
  • Prudential and Structural Islamic Financial Indicators (PSIFIs) for Islamic Banks in Jordan, Jordan (English)
  • Business Cycle and Early Warning Indicators: An Application to the Financial Markets, Kuwait (English)
  • Current Practices of State Bank of Pakistan on Data Collection, Collation and Dissemination Islamic Banking and Finance Statistics, Pakistan (English)
  • Current Practices of BRSA on Data Collection, Collation and Dissemination Islamic Banking and Finance Statistics, Turkey (English)
  • Statistical Applications of Participation Banks Association of Turkey (TKBB), Turkey (English)
  • An Overview – UAE’s Practices on Collection and Dissemination of Banking Statistics, UAE (English)

Photos