1. Benson Sim United Nations Statistics Division
Update on the Work of the Intersecretariat Working Group on National Accounts Task Force on Islamic finance
Workshop on Islamic Finance in the National Accounts
31 October – 2 November 2018
Ankara, Turkey
Benson Sim
United Nations Statistics Division

2. Background
Issues on the implementation of the 2008 SNA recommendations for Islamic finance were raised during several meetings in the Arab region organized by ESCWA
At its 10th meeting, the Advisory Expert Group (AEG) on National Accounts agreed that further research on the statistical implications of Islamic finance in the national accounts is required and that practical guidance on the treatment of Islamic finance transactions needs to be developed
An Intersecretariat Working Group on national accounts task force was created to address the statistical treatment of Islamic finance in the national accounts

3. Two working groups were formed to streamline the work:
Background
Two working groups were formed to streamline the work:
Working group on sectorization and classification
Addressing the issues related to the use of income statements and balance sheets, sectorization, classification and the recording of Islamic finance transactions
Working group on data collection and coordination
Coordinate the work of regional and international organizations on the collection of data on Islamic finance
Draft recommendations on sectorization and classification have been developed and will be used as the basis for in-depth discussions over the next days

4. Thank you