ESCWA Publication: E/ESCWA/SD/2017/TECHNICAL PAPER.4
Country: Arab region
Publication Type: Information material
Cluster: Statistics, Information Society and Technology
Focus Area: Statistics
Initiatives: Financial & macroeconomic statistics for National accounts, Islamic finance
SDGs: Goal 8: Decent Work and Economic Growth, Goal 9: Industry, Innovation and Infrastructure, Goal 17: Partnerships for the Goals
Keywords: Financial instruments, Financial statistics, Statistics, Economic statistics, National accounts
Methodological study on economic statistics: Islamic finance in the national accounts
January 2017
Important differences exist between conventional and Islamic finance: mainly on the differing structure of conventional and Islamic bank accounts, financial intermediation services indirectly measured (FISIM) for Islamic banks, profit distributions by Islamic banks, the classification of Islamic finance institutional units, and structural indicators of Islamic banking.
The study presents four research papers on how Islamic finance should be handled in the System of National Accounts 2008 (2008 SNA) and monetary statistics based on discussion and research papers presented in the workshop organized by ESCWA and UNSD on Islamic finance in national accounts. Research and best practices are needed beyond the financial assets and liabilities and their classification by type of financial instrument described within the framework of monetary and financial statistics, in line with the 2008 SNA.
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Important differences exist between conventional and Islamic finance: mainly on the differing structure of conventional and Islamic bank accounts, financial intermediation services indirectly measured (FISIM) for Islamic banks, profit distributions by Islamic banks, the classification of Islamic finance institutional units, and structural indicators of Islamic banking.
The study presents four research papers on how Islamic finance should be handled in the System of National Accounts 2008 (2008 SNA) and monetary statistics based on discussion and research papers presented in the workshop organized by ESCWA and UNSD on Islamic finance in national accounts. Research and best practices are needed beyond the financial assets and liabilities and their classification by type of financial instrument described within the framework of monetary and financial statistics, in line with the 2008 SNA.
