It has thus conducted the fund-provisioning measure to support financial institutions’ various efforts in the field of climate change. Under this measure, 43 financial institutions were selected as eligible counterparties in November 2021, and funds amounting to about 2 trillion yen were provided through the first operation in December.
Third, the regulatory and supervisory framework must encourage a level playing field where the Islamic banking system can operate alongside conventional banking. There must be a coherent, consistent and comprehensive set of regulations and standards that would appropriately apply to all banks. In other words, the privileges that are available for conventional banks must also be available to Islamic banks.