IFSB launches the fourth Stability Report 2016

11/05/2016 11:33 AST

HE Dr. Hendar, the Deputy Governor of Bank Indonesia, officially launched the fourth edition of the Islamic Financial Services Board’s (IFSB) Islamic Financial Services Industry Stability Report 2016 in Kuala Lumpur today. Following his keynote speech, Dr. Hendar launched the Report during the IFSB Regulator’s Forum held on 10 May 2016, in conjunction with the Global Islamic Finance Forum 2016 (GIFF 5.0). The first IFSB IFSI Stability Report was released in 2013 and has since become a benchmark publication on growth, development and stability assessment of the Islamic financial services industry.

Following the launch, the Secretary-General of the IFSB, Mr. Jaseem Ahmed, said, “The Islamic Financial Services Industry Stability Report 2016 is released at a time of challenging economic times that has led to a moderation in 2015 of the high growth rates of Islamic finance observed since the global financial crisis. Increasing concern about volatility in the global financial system has been a feature in 2015, underscoring the importance of developing robust liquidity infrastructure and strengthening regulatory frameworks for prudential regulation in Islamic finance jurisdictions, which is supported by proactive stress testing and an enhanced set of capabilities for offering financial safety nets. These issues continue to be central to the IFSB’s mission, as is elaborated in this report.”

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