OUR SUPPORT TO POLICY MAKERS

Governments, regulators, public agencies, development banks, and standard setting bodies are making complex decisions involving financial institutions, corporates, new practices such as fintech, and most importantly the citizens. This includes adopting new strategies to set up Islamic banking and finance sector, setting up Islamic banking and finance regulatory frameworks, corporate and Shariah governance frameworks, arranging complicated financial arrangements, taxation and public/private partnerships that not only requires legal, but also political, regulatory and commercial considerations. We are here to analyze the impact of such polices and support prepare the right strategy and framework. 

 

Our experts who have a wealth of practical experience in the public and private sectors are best suited to undertake complex public policy initiatives in the area of Islamic finance to create permanent solutions. nd to minimize the unintended impacts of those policies.

We develop Islamic finance infrastructure for governments and regulatory bodies such as ministries of finance, central banks, and industry building and standard setting bodies. Our support includes the following:

  • Conducting market studies for planning Islamic finance policy development and regulating the market.

  • Analysis of a proposed legislation & regulation

  • Regulatory & policy reform by analyzing existing policies and recommending enhancement

  • Preparing strategic & regulatory planning for Islamic finance sector

  • Developing Islamic finance policies and strategies

  • Developing legal frameworks (Laws & Regulations)

  • Developing implementation guidelines for laws, regulations, and policies

  • Setting up Zakat management system, mechanism, and legal framework.

  • Setting up Waqf management, advice on protecting endowments form waste, and legal frameworks.

  • Setting up Hajj fund, effective mechanism of rolling Hajj money in the economy, and the Hajj fund legal framework

  • Public private partnerships (PPP) and project finance advisory

  • Public finance advisory such as setting up Sukuk MTN programs and issuance, fund raising​ for GREs (government related entities) from private sector, public, and international bodies.

  • Negotiating on behalf of the government with international donors and financial supporting entities such as Word Bank, IMF, and Islamic Development Bank for arranging finance and credit enhancement facilities.

market STUDIES and research

policies and frameworks

Islamic EcoSystem

Fundraising

Case Study: Afghanistan

Our most recent projects supporting a government was for Afghanistan where we:

  1. Developed the Takaful legal framework for the country including the Law and regulations. Supported by the Islamic Development Bank, we also developed the guidelines and regulatory rulebook for the General Directorate Insurance and Takaful.

  2. Advised Afghanistan ministry of justice on the Rahn (collateral) law

  3. Conducted a market study for adopting a robust strategy for developing the Islamic finance sector. The report recommendations were included by Da Afghanistan Bank (Central Bank) in its mid term plans for developing policies to enhance Islamic finance sector and its regulatory supervision.

 

Read the report here. Click on the file.

Pictures from the signing ceremony with the Ministry of Finance of Afghanistan

© 2013 by Credit Solutions Financial Consultancy Services (CSF Tayyib)