Islamic finance

The Business & Industry Guides series is produced by the Library & Information Service for ICAEW members and ACA students.

We can compile tailored key players reports, mailing lists, market reports, benchmarking reports and industry news. Our enquiry team can also research other industry-specific information, such as taxation, for you. Call us on +44 (0)20 7920 8620 or email library@icaew.com.

The IFSB issues global standards for the Islamic finance industry, as well as conducting research and coordinating new industry initiatives. It currently provides quarterly Islamic banking data for 22 countries: Afghanistan, Bahrain, Bangladesh, Brunei, Egypt, Kazakhstan, Indonesia, Iran, Jordan, Kuwait, Lebanon, Malaysia, Nigeria, Oman, Pakistan, Palestine, Qatar, Saudi Arabia, Sudan, Turkey, the United Arab Emirates and the United Kingdom. 

Prudential and Structural Islamic Financial Indicators (PSIFIs) available include: 

• Capital adequacy
• Asset quality
• Earnings
• Leverage
• Liquidity
• Sensitivity to risks
• Value of Shariah-compliant financing by economic activity
• Value of returns by major type of Shariah-compliant contract
• Number of Islamic banks
• Number of employees

Detailed financial statements are also available for seven countries: Afghanistan, Bangladesh, Malaysia, Pakistan, Palestine, Turkey and the United Arab Emirates.

The websites of government, regulatory and trade bodies in this sector are a useful source of industry overviews, contacts and statistics.

• Institute of Islamic banking and Insurance (IIBI)
• TheCityUK Islamic Finance Advisory Group

• Asian Oceanian Standard Setters Group (AOSSG)
• Association of Islamic Banking Institutions Malaysia (AIBIM)
• Association of Shariah Advisors in Islamic Finance (ASAS)
• Malaysia International Islamic Financial Centre (MIFC)
• Malaysian Accounting Standards Board (MASB)

• Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)
• General Council for Islamic Banks and Financial Institutions (CIBAFI)
• International Islamic Financial Market (IIFM)
• Islamic Finance Council (IFC)
• Islamic Financial Services Board (IFSB)

• Gulf Bond and Sukuk Association (GBSA)

• Asian Oceanian Standard Setters Group (AOSSG)
• Australian Centre for Islamic Finance (AUSCIF)

Trade journals, B2B magazines and specialist consumer magazines are another useful source of news and statistics.

• Islamic Finance News
• Islamic Finance Review
• Journal of Islamic Banking and Finance
• NewHorizon
• UK Islamic Finance

These online directories can be used to identify specialist Islamic finance firms, financial products and professionals. 

• IslamicFinance.com - international Islamic finance directory
• Muslim Wealth Portal - find UK organisations offering Islamic finance products and services
• Sukuk.com - searchable directory of Sukuk bonds, issuers and arrangers

• View a list of articles and books available from the library on Islamic finance

To find out how you can borrow books from the Library please see our guide to borrowing books.

You can obtain copies of articles or extracts of books and reports through our document supply service.

Every effort has been made to ensure that the information given in this Business & Industry Guide is correct. However, the content of websites changes frequently and users should satisfy themselves that the information they contain is suitable for the purposes for which they wish to use it. We would be grateful to receive notification of any broken links at library@icaew.com.

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