The Islamic finance industry operates within a Darwinian business and financial environment that demands it adapt to constant change. Within this framework survival itself demands innovation and advancement that will both strengthen the very core of the industry as well as always keep it steps ahead of the curve. In the aftermath of the global financial crisis Islamic financial institutions, market players, regulators and other authorities have more purposefully sought out one another in order to improve the process of industry-wide cooperation and alignment. Reliable information and data are key to this exercise.
ICD Thomson Reuters Islamic Finance Development Indicator is the true barometer of the state of the industry across its fundamentals. The Indicator aims to introduce a new way of measuring development by combining data of the different elements of the industry into a singular composite Indicator. This quantified information will help facilitate further comprehension of how the different parts of the market are developing over time.
The Islamic Finance Development Indicator is a composite weighted index that measures the overall development of the Islamic finance industry by assessing the performance of all its parts in line with its inherent faith-based objectives. It is a global level composite indicator with selected national and industry component level indicators.
All OIC countries are included and all non-OIC countries with presence of Islamic financial institutions are included (92 countries).
The data employed in the Islamic Finance Development Indicator when aggregating data and computing indicator values included information that are publicly disclosed only. The employment of disclosed information ensures reliability and consistency of the results
The Islamic Finance Development Indicator is the true barometer of the state of the Islamic financial services industry across its fundamentals. It measures the industry's development by combining data of its different elements into a singular composite Indicator. This quantified information will help facilitate further comprehension of how the different parts of the industry are developing over time. The IFDI is derived from five fundamentals.
Take Malaysia's Knowledge Indicator as an example
Research Indicator value: 211 (#1)
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