Abstract
This report presents the historical trends, future challenges and prospects for the various segments of the Islamic social finance
sector in South and Southeast Asia, with the following countries under study: Indonesia, India, Pakistan, Bangladesh, Malaysia,
Singapore and Brunei Darussalam. This report examines the broad regulatory and policy environment at the macro level as
well as good and bad practices at the meso and micro levels to seek answers to the following questions as well as to encourage
healthy deliberations around them:
• How much regulation is right for the Islamic social finance sector? Do stringent laws and over-regulation stifle the sector?
• How do we harmonize the different regulatory frameworks governing institutions based on religious and secular philanthropy,
co-operation, not-for-profit and for-profit finance? How do we develop a unified and integrated framework for the Islamic
social finance sector?
• What role do supporting institutions, e.g. networks and associations, institutions of higher learning, trainers and consultants,
developers of standards play in the sector?
• How do we enhance transparency, accountability and governance in the sector?
More specifically, the following questions relevant to specific sub-sectors have major policy implications. While we need to
differentiate between Shariah-legal questions and efficiency-related questions for better comprehension, many apparently
Shariah-legal issues are related to efficiency.
sector in South and Southeast Asia, with the following countries under study: Indonesia, India, Pakistan, Bangladesh, Malaysia,
Singapore and Brunei Darussalam. This report examines the broad regulatory and policy environment at the macro level as
well as good and bad practices at the meso and micro levels to seek answers to the following questions as well as to encourage
healthy deliberations around them:
• How much regulation is right for the Islamic social finance sector? Do stringent laws and over-regulation stifle the sector?
• How do we harmonize the different regulatory frameworks governing institutions based on religious and secular philanthropy,
co-operation, not-for-profit and for-profit finance? How do we develop a unified and integrated framework for the Islamic
social finance sector?
• What role do supporting institutions, e.g. networks and associations, institutions of higher learning, trainers and consultants,
developers of standards play in the sector?
• How do we enhance transparency, accountability and governance in the sector?
More specifically, the following questions relevant to specific sub-sectors have major policy implications. While we need to
differentiate between Shariah-legal questions and efficiency-related questions for better comprehension, many apparently
Shariah-legal issues are related to efficiency.
| Original language | English |
|---|---|
| Publication status | Published - 2014 |
| Externally published | Yes |