Review on Recent Application of Financial Sector Assessment Program (FSAP): Has FSAP Adopted Proposed Islamic Financial Sector Assessment Program (IFSAP) Template?

20 Pages Posted: 17 Feb 2020

See all articles by Muchammad Taufiq Affandi

Muchammad Taufiq Affandi

University of Darussalam Gontor; Hamad Bin Khalifa University

Date Written: December 4, 2013

Abstract

The Financial Sector Assessment Program (FSAP) states that a sound and well functioning financial system is supported by three pillars to sustain orderly financial development and stability which relate to the macroeconomic factors, regulatory and supervisory framework, and the infrastructures. Three years after the proposed paper, there is an urgency to review to what extent FSAP has adopted Proposed Islamic Financial Sector Assessment Program (IFSAP) Template. This note will try to review the FSAP on some selected countries and analyze the influence of proposed IFSAP to the FSAP. This result of this review shows that the IMF-World Bank has adopted in a limited way the proposed template by IRTI-IDB. Overall, there is a very limited significance of change in the of FSAP model.

Keywords: Financial Sector Assessment Program, Financial Stability, Regulatory and Supervisory Framework, Financial system infrastructure

JEL Classification: G000, G280

Suggested Citation

Affandi, Muchammad Taufiq, Review on Recent Application of Financial Sector Assessment Program (FSAP): Has FSAP Adopted Proposed Islamic Financial Sector Assessment Program (IFSAP) Template? (December 4, 2013). Available at SSRN: https://ssrn.com/abstract=3523428 or http://dx.doi.org/10.2139/ssrn.3523428

Muchammad Taufiq Affandi (Contact Author)

University of Darussalam Gontor ( email )

Ponorogo
Indonesia

Hamad Bin Khalifa University ( email )

P.O. Box: 5825
Education City
Doha
Qatar

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