View
222
Download
0
Embed Size (px)
Citation preview
8/6/2019 Role of DAB by Zulifqar Ali Khan
1/16
8/6/2019 Role of DAB by Zulifqar Ali Khan
2/16
Da Afghanistan Bank
Islamic Banking Unit Financial Supervision Department
Role of DAB and Regulatory
Framework of Islamic Banking in
Afghanistan
Zulfiqar Ali Khan
Head of Islamic Banking Unit
Financial Supervision Department
8/6/2019 Role of DAB by Zulifqar Ali Khan
3/16
Da Afghanistan BankIslamic Banking Unit Financial Supervision Department
Role of Da Afghanistan Bank
8/6/2019 Role of DAB by Zulifqar Ali Khan
4/16
Da Afghanistan BankIslamic Banking Unit Financial Supervision Department
The vision of DAB is that of a monetary
institution which upholds international bestpractice in fostering price stability and a sound
financial system conducive to macro-economic
stability, and broad-based economic growth.
Our Vision
8/6/2019 Role of DAB by Zulifqar Ali Khan
5/16
Da Afghanistan BankIslamic Banking Division Financial Supervision Department
Basic Tasks of DAB:
Formulate, adopt and execute the monetary policy of Afghanistan.
Hold and manage the official foreign exchange reserves of
Afghanistan.
Print and issue Afghani banknotes and coins.
Act as banker and adviser to, and as fiscal agent of, the State.
License, regulate and supervise banks, foreign exchange dealers,
money service providers.
Establish, maintain and promote sound and efficient systems for
payments.
8/6/2019 Role of DAB by Zulifqar Ali Khan
6/16
Da Afghanistan BankIslamic Banking Unit Financial Supervision Department
Islamic Banking Unit
Financial Supervision Department
8/6/2019 Role of DAB by Zulifqar Ali Khan
7/16
Da Afghanistan BankIslamic Banking Unit Financial Supervision Department
Function of Islamic Banking UnitDevelopment of infrastructure for Islamic Banking industry-
Determine direction of development of Islamic banking in Afghanistan;
Creation of sound legal and shariah infrastructure;
Market development and public awareness.
Safeguarding stability of Islamic Banking system- Introduce regulatory and prudential policies for development of Islamic banking
industry;
Monitor financial condition of Islamic financial institutions to ensure compliance
with laws, regulation and guideline;
Promoting industry best practices and credit culture.
Islamic banking unit undertakes among other things, the following tasks-
Secretariat to the national Shariah advisory board;
Develop Shariah policies for the industry;
Product review ;
Islamic Banks examination; and
Advice to the industry;
8/6/2019 Role of DAB by Zulifqar Ali Khan
8/16
Da Afghanistan BankIslamic Banking Unit Financial Supervision Department
PROJECTOWNER/GOVERNOR/
DEPUTY GOVERNOR
GENERAL DIRECTORFINANCIAL
SUPERVISION
DEPARTMENT
DEPUTY DIRECTORISLAMIC BANKING
DIVISION ADVISOR
STEERINGCOMMITTEE
ACOUNTINGREPORTING
SECTION
OFF-SITESECTION
ON-SITESECTION
2 STAFF 2 STAFF 2 STAFF 2 STAFF 1LAWYER
R&DSECTION
LEGAL&SHAIAH SECTION
LICENSING
SECTION
2 STAFF
ISLAMIC BANKING
OFFICE
COORDINATOR
SHARIAHBOARD
Structure of Islamic Banking within FSD
8/6/2019 Role of DAB by Zulifqar Ali Khan
9/16
Da Afghanistan BankIslamic Banking Unit Financial Supervision Department
Islamic
banks & takaful
companies Islamic
Capital
Market
Islamic
Money
Market
Money
marketConventional
banks & insurance
companies
Capital
market
Dual
banking
system
Supported by human capital infrastructure
GOVERNANCE
Legal & Regulatory
DAB law
Banking law
DAB Islamic Banking lawMortagage law
AML
CFT
Shariah Framework
Shariah Advisory Council
Shariah Committees
Shariah Parameters
Shariah Governance Framework
Afghanistan financial system
The strategic goal and objectives described in the DAB strategic plan
DIVERSIFIED PLAYERS
Islamic Banking
17 banks
10 local commercial banks
2 state owned banks.
5 foreign branches .
Takaful/insurance co.
2 insurance operators
0 takaful operators
8/6/2019 Role of DAB by Zulifqar Ali Khan
10/16
Da Afghanistan BankIslamic Banking Unit Financial Supervision Department
Sufficient number ofstrong & highly
capitalized Islamicfinancial institutions.
Sufficient number ofwell-trained high
caliber individual &management team
with required.
Comprehensive,conducive and
efficient shariahregulatory frame
work .
Comprehensive andcomplete range ofIslamic financial
product & services.
High level objectives of Islamic banking
8/6/2019 Role of DAB by Zulifqar Ali Khan
11/16
Da Afghanistan BankIslamic Banking Unit Financial Supervision Department
Regulatory Framework of Islamic Banking inAfghanistan
8/6/2019 Role of DAB by Zulifqar Ali Khan
12/16
Da Afghanistan BankIslamic Banking Unit Financial Supervision Department
1. Law of Islamic Banking
Status: Final stage.
2. Afghanistan Deposit Insurance Corporation (ADIC) (amendment to
Banking Law)
Status : under review by Economy committee ofLowerHouse
3. Law on Financial Leasing
Status : in Parliament
4. Law on Mortgage of Immovable Property (Mortgage Law)
Status : Enforced. Printed into OG 990.
5. Law on Secured Transactions ofMovable Property (Movables Law)Status : Enforced. Printed into OG990.
6. Law ofNegotiable Instruments (NI Law)
Status : Enacted. Printed into OG971. Under review by LowerHouse.
Regulatory Framework
8/6/2019 Role of DAB by Zulifqar Ali Khan
13/16
8/6/2019 Role of DAB by Zulifqar Ali Khan
14/16
Da Afghanistan BankIslamic Banking Unit Financial Supervision Department
New Regulations on Statutory Reserve Requirement for Islamic Banks
New Regulations on Liquidity Requirement for Islamic Banks
New Regulations on the Establishment of Islamic Banks /Windows /
Branches on Licensing Requirement, Fee and OtherRequirements
New Regulations on Internal Financing for Islamic Banks
New Regulations on the Conversion ofConventional Bank to Islamic
Bank
New Regulations on the establishment and governance of Shariah
Committee for Islamic Banks /Windows
Regulations on Reporting ofComplaints by Customer for Islamic Banks
pertaining to Shariah issues
DAB GUIDELINE FOR ISLAMIC BANKS
8/6/2019 Role of DAB by Zulifqar Ali Khan
15/16
Approach to Implementation 3 Phases
Phase 3: Raise performance standards throughcontinuous improvements to operational andinstitutional framework.
.
Phase 2: Stimulation of competition andupgrading of infrastructure.
.
Phase 1: Develop the operational andinstitutional framework.
2010
2015
Da Afghanistan BankIslamic Banking Unit Financial Supervision Department
8/6/2019 Role of DAB by Zulifqar Ali Khan
16/16
Thank You
CENTER OF ISLAMIC BANKING & ECNOMICS
Head Office:192- Ahmad Block, New Garden Town , Lahore, Pakistan
Ph: +92-42-35913096-8, 35858990, 38407850
Fax: +92 -42-35913056
E-mail : [email protected]
Web: http://www.alhudacibe.com