The crowdsourcing platform executives built a personal relationship with the payment firms CEO, even working with his daughter to help raise money for a school in Indonesia. HSBC, University Bank in Ann Arbor, Michigan, and Devon Bank of Chicago all now offer Islamic banking products in the United States. Millions of Americans are observing Ramadan, the Muslim month of fasting, prayer and devotional giving. Islamic finance which comprises the banking system, takaful (Islamic insurance) and capital market products and services offer an alternative to society. We do this by executing monetary policy, providing financial services, supervising banks and conducting research and providing expertise on issues that impact the nation and communities we serve. Some were understandable reasons like a low credit score or an over-drafted account concerns that the banking sector would have with any customer. I have participated, along with a number of my colleagues at other regulatory agencies, in several conferences such as this one, both in New York and elsewhere, in an effort to stay abreast of developments in this market and to emphasize our continuing interest in this industry. Here, a conventional senior bank provides a loan with interest, the investors provide the equity and the mezzanine financing is placed in a shariah-compliant way. In terms of accounting, the bank records the loan as an asset on its balance sheet. Although based on Islamic principles, these filters may serve a broader purpose of excluding firms that may present particular risk. Program takes place on Fridays, starting 6 PM and concluding with Iftar. Trillions of dollars in play over the next decade will accelerate the economic recovery, and investors are showing interest in new performance and Islamic-based ESG and sustainability-linked debt products (SLDs), with North America following Europe's and the Middle East's lead. The New York Branch is primarily focused on providing North American exporters and importers with clear solutions to their trade finance requirements with their MENA-based counterparties. The Islamic financial community is in the process of developing international supervisory standards and practices that reflect the specific needs of sharia-compliant finance. Dubai: Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has been recognised as one of the Worlds Best Islamic Financial Institutions by New York-based Global Finance magazine. Recently, in the US commercial real estate sector, banks such as Malaysia-based Maybank, Kuwait-based Warba Bank and National Bank of Kuwait, Italian bank Intesa Sanpaolo and MASIC, a Saudi private equity investment firm controlled by the Al Subeaei family together with asset manager, Boubyan Bank, have participated in commercial Islamic finance transactions in the US in connection with commercial real estate. Daily five times Salat & every Fridays Congregational Jummah Prayer. Of course, corporate governance issues have become particularly important to us here in the United States over the past few years, and some of the approaches we are taking to address this issue already have much in common with the practices of Islamic finance. Each country may do that a little differently. Islamic banks have focused instead on putting their money into real assets and property, and sharing any resulting profits from the performance of an asset. In 2013 we added DBA Arafa Islamic Center to its legal name to facilitate broader scope of service from the organization. Remarks at the 2005 Arab Bankers Association of North America (ABANA) Conference on Islamic Finance: Players, Products & Innovations in New York City. WebThree types of Islamic home financing models are fairly well-known in the United States: 1. What we include in our broad framework of approach and how we train and develop our examiners to make those individual judgments is, of course, strongly influenced by supervisory practices developing around the world. All deposit accounts offered by US banks are required to be insured by the FDIC, which is intended to ensure the overall safety and stability of financial institutions. This ongoing Liberty Street Economics series analyzes disparities in economic and policy outcomes by race, gender, age, region, income, and other factors. Islamic finance has widely used real estate as a basis for shariah-compliant financial structures. A typical murabahah structure contains an unconditional contract of sale with a cost price, markup and payment date predefined. Some of the features of sharia-compliant investing may also hold an appeal for Western investors. That summer this platform was acquired by a large US Bank. WebThe Islamic Society of Central New York. May 30, 2018. The New York Branch was established in June 1982 as a U. S. Federally Chartered Branch of the Bank ABC Group, under the supervision of the Office of the Comptroller of the Currency. These obligations may, however, be contracted out to the borrower, who acts as a lessee. We welcome your sponsorship with any of the levels you would like to participate with. 
Research Director at the Institute for Social Policy and Understanding, Al Jazeera Centre for Public Liberties & Human Rights, Institute for Social Policy and Understanding. Yet commercial banking remains the main contributor to the sector's growth. My remarks this morning will focus on the regulation of Islamic banking services in the United States, and I preface them by noting that they are my own and do not necessarily reflect the views of the Federal Reserve. Please enable scripts and reload this page. 
In certain circumstances, shariah-compliant and conventional lenders may enter into a formal intercreditor agreement that sets out the priority of payments and the ranking of security. 
If the borrower defaults, the bank may sell the underlying property to recover the amount owed, as in a mortgage transaction. The national regulators include the Board of Governors of the Federal Reserve System (Federal Reserve), the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC), and the state regulators are responsible for banking activities in each state. WebNew York-headquartered Islamic fintech company Wahed, which offers global robo-advisory and ethical investment solutions, is in the process of completing a Across Africa as a whole, Nigerias Jaiz Bank also had a particularly strong year, with assets rising 54.2% to $545m, while Algerias Al Salam Bank saw its asset base grow by 28.4% and Faisal Islamic Bank of Egypt by 22.5%. WebDevon Bank in Chicago is the only other bank regularly offering Islamic financing products. The opportunity cost for the US dollar, especially in light of covid and Brexit, is quite large in not participating in this global market and opportunity at this moment in time. The Center for Microeconomic Data offers wide-ranging data and analysis on the finances and economic expectations of U.S. households. Journal of Islamic Business and Management Vol.1 No.1, 2011 97 3. Despite the progress that has been made in the provision of Islamic financial services here in the United States, not all of the regulatory challenges raised by these institutions have been resolvedchallenges that arise from looking to introduce Islamic financial principles into a regulatory framework that was structured without these principles in mind. When they prodded further, they found that they had too many Muslim and Arabic names that were throwing off their software. Amna Puri-Mirza. SHAPE Financial Corporation has publicly described having to modify the deposit product it proposed to offer through University Bank, so that principal is guaranteed, and the deposit-holders share only in bank profits, not losses. The New York Fed provides a wide range of payment services for financial institutions and the U.S. government. Unlike in a conventional finance lease transaction, the bank, acting as an owner and a lessor, has obligations to insure and undertake major maintenance of the leased asset. Even so, because its deposit products are covered by the U.K.s deposit insurance system, customers are advised that their acceptance of full repayment in the case of a loss may not be in compliance with the sharia. I was a member of the Basel Committee for five years and found the sharing of information, and coordinated efforts to address areas of common concern, extremely useful in understanding how we can continue to improve our supervisory processes in the United States. is licensed as a conventional wholesale bank by the Central Bank of Bahrain. Lariba, in California, is another large Islamic mortgage lender, which also provides business financing. For example, the OCC was able to look beyond the restrictions on bank ownership of real estate to conclude that, in these cases, the risks that drove the general restrictions were not present, because the transactions were equivalent to secured loans or riskless principal transactions. 17, no. Presently, AIC is NYC largest Islamic Center & located in the basement of two retail stores and can accommodate approximately 400 Mussalies with separate prayer areas for brothers and sisters. In recent years, Muslim individuals, businesses, and nonprofits have reported facing potentially discriminatory practices at some of the nations largest banks. The Federal Reserve subsequently influenced the OCC to issue opinions aimed at reconciling apparent conflicts between shariah and the federal and state laws, and their respective regulations. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Islamic Society of Central New York 2023 Powered by MHA Visuals. The borrower is required to maintain the property and pay all expenses. Currently, AIG's underwriting subsidiaries, Risk Specialist Companies Inc and Lexington Insurance Company, issue takaful. Bank ABC in New York offers various trade finance products to its North American clients and utilizes the Bank ABC Groups presence and expertise in the MENA region to ensure high quality and efficient service. Upcoming The OCC opined that under such structures a bank's ownership of property is only for 'a moment in time' because of the simultaneous nature of purchase and sale transactions. Islamic banking is a banking system that is based on the principles of Islamic law, also referred to as Shariah law, and guided by Islamic economics. Khatm-e-Taraweeh for brothers & sisters in the month of Ramadan. Yet a few months later, a board member of the payment platform happened upon the LaunchGood website and, based on nothing, but emotion (and prejudice), demanded that it be off-boarded as a customer. Here, the bank pays the seller for the property for immediate sale to the buyer for the cost plus a profit pursuant to a murabahah agreement. It is one of two Emirati lenders in the ranking. The senior conventional bank and the shariah-compliant mezzanine lender enter into an intercreditor agreement governing the way in which each of their loans is treated while conforming to the mezzanine lender's Islamic sensibilities. The five Sharia banks have a high efficiency ratio of over 80%. The second OCC interpretive letter was issued in 1999 in response to a proposal to offer certain murabaha-based financing products. The New York Branch also provides its clients with traditional corporate banking facilities, such as revolving lines of credit and terms loans, and various treasury products, including US dollar time deposits. WebThe list of 230 islamic banks that are active in the world is below : Afghanistan Da Afghanistan Bank. Our main goal is to provide Islamic banking solutions to clients with increasingly sophisticated financing needs. We look to train and develop our examiners so that they can make the necessary case by case judgments in a rigorous and fair way. One advantage of murabahah is that it may not require credit support. However, the number of players is not necessarily indicative of the size of the industry, in terms of assets. It could have used this time and resources to improve its product, expand partnerships, and execute its mission. Islamic finance in the United States dates from the 1980s, when two institutions opened on the West Coast. Muslim The Economic Inequality & Equitable Growth hub is a collection of research, analysis and convenings to help better understand economic inequality. These institutions may easily obtain real estate financing through murabahah and ijarah structures as well as limited joint venture possibilities through musharakah and mudarabah transactions. Arafa Islamic Center (AIC) is a non-profit, and a NYC largest Islamic Center Tax-exempt organization registered in the State of New York. Although estimates of the potential size of this market vary widely, it is clear from the recent domestic growth of these services that significant demand exists for these products. UAE ISLAMIC FINANCE. Islamic banks are not outperforming other banks as a rule, since what they gain in safety, largely as a result of restrictions placed by shariah principles, they may lose in efficiency. There were 505 Islamic banks in 2021, including 207 Islamic banking windows. We seek to understand each individual institution what is its business strategy; what risks arise from that strategy (cutting across such categories as credit risk, market or investment risk, operational risk, and legal risks). The branch also participates in loan syndications and bi-lateral arrangements. The end result is that the customer has received a cash amount and has a deferred payment obligation for the purchase price to the bank. Nonprofits, like the ones Muslims give to during Ramadan, fare no better. On the other hand, a US financial institution may have a hard time employing murabahah or ijarah structures to finance the purchase of an asset (e.g., a car or home) if required under the state law to qualify as a licensed leasing company or auto lender. Consistent with that approach, while we are committed to accommodating Islamic finance within the U.S. structure, we will hold Islamic financial institutions to the same high licensing and supervision standards to which we hold conventional ones. Further developments may be achieved by expansion of the scope of social infrastructure to include education, healthcare and social housing sectors. How Does an Islamic Bank Work? Legal Note, Bank ABC (Arab Banking Corporation B.S.C.) Housing Bank Algeria. Our mission is to encourage people of all ages and ethnic groups to learn and develop their knowledge of Islam, to bridge the gap between the communities by providing the necessary resources. Paterson, New Jersey, is home to a significant and growing Bangladeshi American community. US credit unions have also adopted a communal or partnership model that complies with shariah. But where Muslims really are singled out is when it comes to business and nonprofit accounts, whichimpact not just one persons financial situation, but potentially a whole communitys. There are several other features of U.S. banking law that could potentially hold back Islamic finance. The next generation search tool for finding the right lawyer for you. Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, released its 2nd ESG report, showcasing progress made towards ESG goals for 2022. Pacific-Basin Finance Journal, vol. Typically, title to the property is only transferred to the borrower after full payment of the cost of the property. Moreover, US consumer credit laws require that commercial banks have reporting and disclosure requirements that may be inconsistent with shariah. Welcome to banking while Muslim, an experience that involves dealing with systemic, deep-rooted institutional discrimination. , Sep 12, 2022. As the payment platform switched to the large banks compliance software, 50 percent of LaunchGoods donors in the United Kingdom were rejected. Another unexpected leading indicator that has already shown signs of an uptick in the US market is Brexit, whereby London's euro clearing market is expected to cut almost 40,000 jobs in its banking industry. Despite the impact of covid-19, the global Islamic finance market is growing moderately because of strong investments in the halal sectors, infrastructure and sukuk bonds, especially through electronic modes in all products and services. 2022Malayan Banking Berhad (Co.Reg.No. New York Federal Reserve Bank, the World Bank, the European Commission, the UK Treasury, Citibank Private Bank, Barclays Wealth, McKinsey & co, Credit Suisse and various other international banks and consulting firms KFHs Islamic banking products and services span commercial, retail and corporate banking as well as real estate, trade finance and investments. These requirements typically mandate advance disclosure of APR and other terms that do not fit the principles on which Islamic finance is structured. Musharakah is a form of co-ownership between the home buyer and the financing company. These experiences of disparate treatment while opening or maintaining a bank account can be found in different regions across the country. In addition, companies that are overleveraged or that rely too heavily on accounts receivable are screened out. From the late 1990s, the market size grew significantly, paralleling the growth of the Muslim population in the US: from 50 per cent in the 1990s to 66 per cent in the 2000s. Bank supervisors from other parts of the world are clearly ahead of us in confronting the challenges in understanding the risks facing Islamic financial institutions, and how they can be most effectively managed and controlled. Islamic law and society in Indonesia: corporate Zakat norms and practices in Islamic banks by Alfitri, New York, Routledge, 2022, 272 pp., 96.00 (hardback), ISBN: 9781032019796 Ridwan M. Soleh Universitas Pendidikan Indonesia, Bandung, Indonesia Correspondence [email protected] [email protected] But to achieve that objective over time, we need a system that is dynamic one that can adapt to changing customer needs. A growing sense that such incidents are not isolated has pushed a group of lawmakers to urge financial institutions to modernize policies that implicitly discriminate based on ethnic and religious background. Beyond the legal issues regarding the activities a bank is permitted to conduct, bank supervisors have issues to confront in how to assess the safety and soundness of individual Islamic banks. And analysis on the finances and economic expectations of U.S. banking law that potentially!, analysis and convenings to help better understand economic Inequality & Equitable growth hub is a collection of research analysis! Financing needs the U.S. government payment of the property is only transferred to sector... 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Research Director at the Institute for Social Policy and Understanding, Al Jazeera Centre for Public Liberties & Human Rights, Institute for Social Policy and Understanding. Yet commercial banking remains the main contributor to the sector's growth. My remarks this morning will focus on the regulation of Islamic banking services in the United States, and I preface them by noting that they are my own and do not necessarily reflect the views of the Federal Reserve. Please enable scripts and reload this page. In certain circumstances, shariah-compliant and conventional lenders may enter into a formal intercreditor agreement that sets out the priority of payments and the ranking of security. If the borrower defaults, the bank may sell the underlying property to recover the amount owed, as in a mortgage transaction. The national regulators include the Board of Governors of the Federal Reserve System (Federal Reserve), the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC), and the state regulators are responsible for banking activities in each state. WebNew York-headquartered Islamic fintech company Wahed, which offers global robo-advisory and ethical investment solutions, is in the process of completing a Across Africa as a whole, Nigerias Jaiz Bank also had a particularly strong year, with assets rising 54.2% to $545m, while Algerias Al Salam Bank saw its asset base grow by 28.4% and Faisal Islamic Bank of Egypt by 22.5%. WebDevon Bank in Chicago is the only other bank regularly offering Islamic financing products. The opportunity cost for the US dollar, especially in light of covid and Brexit, is quite large in not participating in this global market and opportunity at this moment in time. The Center for Microeconomic Data offers wide-ranging data and analysis on the finances and economic expectations of U.S. households. Journal of Islamic Business and Management Vol.1 No.1, 2011 97 3. Despite the progress that has been made in the provision of Islamic financial services here in the United States, not all of the regulatory challenges raised by these institutions have been resolvedchallenges that arise from looking to introduce Islamic financial principles into a regulatory framework that was structured without these principles in mind. When they prodded further, they found that they had too many Muslim and Arabic names that were throwing off their software. Amna Puri-Mirza. SHAPE Financial Corporation has publicly described having to modify the deposit product it proposed to offer through University Bank, so that principal is guaranteed, and the deposit-holders share only in bank profits, not losses. The New York Fed provides a wide range of payment services for financial institutions and the U.S. government. Unlike in a conventional finance lease transaction, the bank, acting as an owner and a lessor, has obligations to insure and undertake major maintenance of the leased asset. Even so, because its deposit products are covered by the U.K.s deposit insurance system, customers are advised that their acceptance of full repayment in the case of a loss may not be in compliance with the sharia. I was a member of the Basel Committee for five years and found the sharing of information, and coordinated efforts to address areas of common concern, extremely useful in understanding how we can continue to improve our supervisory processes in the United States. is licensed as a conventional wholesale bank by the Central Bank of Bahrain. Lariba, in California, is another large Islamic mortgage lender, which also provides business financing. For example, the OCC was able to look beyond the restrictions on bank ownership of real estate to conclude that, in these cases, the risks that drove the general restrictions were not present, because the transactions were equivalent to secured loans or riskless principal transactions. 17, no. Presently, AIC is NYC largest Islamic Center & located in the basement of two retail stores and can accommodate approximately 400 Mussalies with separate prayer areas for brothers and sisters. In recent years, Muslim individuals, businesses, and nonprofits have reported facing potentially discriminatory practices at some of the nations largest banks. The Federal Reserve subsequently influenced the OCC to issue opinions aimed at reconciling apparent conflicts between shariah and the federal and state laws, and their respective regulations. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Islamic Society of Central New York 2023 Powered by MHA Visuals. The borrower is required to maintain the property and pay all expenses. Currently, AIG's underwriting subsidiaries, Risk Specialist Companies Inc and Lexington Insurance Company, issue takaful. Bank ABC in New York offers various trade finance products to its North American clients and utilizes the Bank ABC Groups presence and expertise in the MENA region to ensure high quality and efficient service. Upcoming The OCC opined that under such structures a bank's ownership of property is only for 'a moment in time' because of the simultaneous nature of purchase and sale transactions. Islamic banking is a banking system that is based on the principles of Islamic law, also referred to as Shariah law, and guided by Islamic economics. Khatm-e-Taraweeh for brothers & sisters in the month of Ramadan. Yet a few months later, a board member of the payment platform happened upon the LaunchGood website and, based on nothing, but emotion (and prejudice), demanded that it be off-boarded as a customer. Here, the bank pays the seller for the property for immediate sale to the buyer for the cost plus a profit pursuant to a murabahah agreement. It is one of two Emirati lenders in the ranking. The senior conventional bank and the shariah-compliant mezzanine lender enter into an intercreditor agreement governing the way in which each of their loans is treated while conforming to the mezzanine lender's Islamic sensibilities. The five Sharia banks have a high efficiency ratio of over 80%. The second OCC interpretive letter was issued in 1999 in response to a proposal to offer certain murabaha-based financing products. The New York Branch also provides its clients with traditional corporate banking facilities, such as revolving lines of credit and terms loans, and various treasury products, including US dollar time deposits. WebThe list of 230 islamic banks that are active in the world is below : Afghanistan Da Afghanistan Bank. Our main goal is to provide Islamic banking solutions to clients with increasingly sophisticated financing needs. We look to train and develop our examiners so that they can make the necessary case by case judgments in a rigorous and fair way. One advantage of murabahah is that it may not require credit support. However, the number of players is not necessarily indicative of the size of the industry, in terms of assets. It could have used this time and resources to improve its product, expand partnerships, and execute its mission. Islamic finance in the United States dates from the 1980s, when two institutions opened on the West Coast. Muslim The Economic Inequality & Equitable Growth hub is a collection of research, analysis and convenings to help better understand economic inequality. These institutions may easily obtain real estate financing through murabahah and ijarah structures as well as limited joint venture possibilities through musharakah and mudarabah transactions. Arafa Islamic Center (AIC) is a non-profit, and a NYC largest Islamic Center Tax-exempt organization registered in the State of New York. Although estimates of the potential size of this market vary widely, it is clear from the recent domestic growth of these services that significant demand exists for these products. UAE ISLAMIC FINANCE. Islamic banks are not outperforming other banks as a rule, since what they gain in safety, largely as a result of restrictions placed by shariah principles, they may lose in efficiency. There were 505 Islamic banks in 2021, including 207 Islamic banking windows. We seek to understand each individual institution what is its business strategy; what risks arise from that strategy (cutting across such categories as credit risk, market or investment risk, operational risk, and legal risks). The branch also participates in loan syndications and bi-lateral arrangements. The end result is that the customer has received a cash amount and has a deferred payment obligation for the purchase price to the bank. Nonprofits, like the ones Muslims give to during Ramadan, fare no better. On the other hand, a US financial institution may have a hard time employing murabahah or ijarah structures to finance the purchase of an asset (e.g., a car or home) if required under the state law to qualify as a licensed leasing company or auto lender. Consistent with that approach, while we are committed to accommodating Islamic finance within the U.S. structure, we will hold Islamic financial institutions to the same high licensing and supervision standards to which we hold conventional ones. Further developments may be achieved by expansion of the scope of social infrastructure to include education, healthcare and social housing sectors. How Does an Islamic Bank Work? Legal Note, Bank ABC (Arab Banking Corporation B.S.C.) Housing Bank Algeria. Our mission is to encourage people of all ages and ethnic groups to learn and develop their knowledge of Islam, to bridge the gap between the communities by providing the necessary resources. Paterson, New Jersey, is home to a significant and growing Bangladeshi American community. US credit unions have also adopted a communal or partnership model that complies with shariah. But where Muslims really are singled out is when it comes to business and nonprofit accounts, whichimpact not just one persons financial situation, but potentially a whole communitys. There are several other features of U.S. banking law that could potentially hold back Islamic finance. The next generation search tool for finding the right lawyer for you. Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, released its 2nd ESG report, showcasing progress made towards ESG goals for 2022. Pacific-Basin Finance Journal, vol. Typically, title to the property is only transferred to the borrower after full payment of the cost of the property. Moreover, US consumer credit laws require that commercial banks have reporting and disclosure requirements that may be inconsistent with shariah. Welcome to banking while Muslim, an experience that involves dealing with systemic, deep-rooted institutional discrimination. , Sep 12, 2022. As the payment platform switched to the large banks compliance software, 50 percent of LaunchGoods donors in the United Kingdom were rejected. Another unexpected leading indicator that has already shown signs of an uptick in the US market is Brexit, whereby London's euro clearing market is expected to cut almost 40,000 jobs in its banking industry. Despite the impact of covid-19, the global Islamic finance market is growing moderately because of strong investments in the halal sectors, infrastructure and sukuk bonds, especially through electronic modes in all products and services. 2022Malayan Banking Berhad (Co.Reg.No. New York Federal Reserve Bank, the World Bank, the European Commission, the UK Treasury, Citibank Private Bank, Barclays Wealth, McKinsey & co, Credit Suisse and various other international banks and consulting firms KFHs Islamic banking products and services span commercial, retail and corporate banking as well as real estate, trade finance and investments. These requirements typically mandate advance disclosure of APR and other terms that do not fit the principles on which Islamic finance is structured. Musharakah is a form of co-ownership between the home buyer and the financing company. These experiences of disparate treatment while opening or maintaining a bank account can be found in different regions across the country. In addition, companies that are overleveraged or that rely too heavily on accounts receivable are screened out. From the late 1990s, the market size grew significantly, paralleling the growth of the Muslim population in the US: from 50 per cent in the 1990s to 66 per cent in the 2000s. Bank supervisors from other parts of the world are clearly ahead of us in confronting the challenges in understanding the risks facing Islamic financial institutions, and how they can be most effectively managed and controlled. Islamic law and society in Indonesia: corporate Zakat norms and practices in Islamic banks by Alfitri, New York, Routledge, 2022, 272 pp., 96.00 (hardback), ISBN: 9781032019796 Ridwan M. Soleh Universitas Pendidikan Indonesia, Bandung, Indonesia Correspondence [email protected] [email protected] But to achieve that objective over time, we need a system that is dynamic one that can adapt to changing customer needs. A growing sense that such incidents are not isolated has pushed a group of lawmakers to urge financial institutions to modernize policies that implicitly discriminate based on ethnic and religious background. Beyond the legal issues regarding the activities a bank is permitted to conduct, bank supervisors have issues to confront in how to assess the safety and soundness of individual Islamic banks. 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