Regional: Implementing Prudential Standards in Islamic Finance

Sovereign Project | 46061-001


Latest Project Documents

Consulting Notices

See also: CMS

No notices are currently available for this project.

Procurement Notices

See also: Operational Procurement

No notices are currently available for this project.

Procurement Documents

No documents of this type are currently available for this project.

Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

The Public Communications Policy (PCP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.

The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.

In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.

Project Name Implementing Prudential Standards in Islamic Finance
Project Number 46061-001
Country Regional
Project Status Approved
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 8214-REG: Implementing Prudential Standards in Islamic Finance
Financial Sector Development Partnership Fund US$ 500,000.00
Strategic Agendas Inclusive economic growth
Regional integration
Drivers of Change Governance and capacity development
Sector / Subsector

Finance - Banking systems and nonbank financial institutions - Finance sector development - Money and capital markets

Gender Equity and Mainstreaming
Project Rationale and Linkage to Country/Regional Strategy
Impact Continued growth of Islamic finance in a stable manner which contributes to access to finance in DMCs
Project Outcome
Description of Outcome Prudential standards developed by IFSB and implemented by DMCs
Progress Toward Outcome
Implementation Progress
Description of Project Outputs

1. e-module platform for dissemination of standards and guidelines developed

2 framework for implementation of IFSB standards including peer review system developed

3. Guidelines for Islamic capital market development developed

4. Phase 2 of the PSIFI project completed

5. Concluding seminar held and book on Islamic finance based on findings of TA published

Status of Implementation Progress (Outputs, Activities, and Issues)

1) Contract with the firm (Intuition Publishing Ltd) was finalized in Feb 2015. Two of the four milestones have been completed. The recent one was the completion of the first five e-Module Storyboards and the e-Module Branded template

2) working group on core principles have been set up and reverse linkage study ongoing

3) Allocation for this component has been reallocated to other priority areas

4) Phase 2 of PSIFI is making good progress with active participation from DMCs

5) Seminar held in 2013 and the publication was launched during the 2015 ADB Annual Meeting at Baku, Azerbaijan. It was launched by Vice-President Operations Group 2 during one of the side events of the ADB Annual Meeting.

Geographical Location
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design
During Project Implementation
Business Opportunities
Consulting Services The TA will be implemented over 24 months, from November 2012 to November 2014. It will require 29 person-months of international consulting services, consisting of (i) a finance sector and statistical expert (5 person-months,) to review and complete the PSIFI project; (ii) a capital market and money market expert (4 person-months); (iii) an Islamic finance supervision and training expert (6 person-months); and (iv) a finance sector and prudential standards expert (6 person-months) to help the IFSB develop new standards and assist DMCs in implementation, including preparation of the implementation framework. These experts will be engaged as individuals. A firm (8 person-months) will be engaged for the e-module component. All consultants will be hired according to ADB's Guidelines on the Use of Consultants (2010, as amended from time to time).
Responsible ADB Officer Mohd Sani Mohd Ismail
Responsible ADB Department Southeast Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, SERD
Executing Agencies
Asian Development Bank
6 ADB Avenue, Mandaluyong
Metro Manila, Philippines
P.O. Box 789, 1099 Manila,
Concept Clearance 16 May 2012
Fact Finding 28 May 2012 to 28 May 2013
Approval 13 Nov 2012
Last Review Mission -
Last PDS Update 25 Sep 2015

TA 8214-REG

Approval Signing Date Effectivity Date Closing
Original Revised Actual
13 Nov 2012 - 13 Nov 2012 30 Nov 2014 30 Nov 2015 -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
0.00 500,000.00 0.00 0.00 0.00 0.00 500,000.00 13 Nov 2012 345,427.39
Title Document Type Document Date
Implementing Prudential Standards in Islamic Finance Technical Assistance Reports Nov 2012

Safeguard Documents

See also: Safeguards

No documents found.

Evaluation Documents

See also: Independent Evaluation

No documents found.

The Public Communications Policy (PCP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.

Requests for information may also be directed to the InfoUnit.