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New bank rules attract Standard Chartered

Posted on 06 December 2011

Lawmakers in Bangladesh are urging the central bank to draft Islamic banking regulations, spurring Standard Chartered Plc to increase investment in the nation’s $10 billion (Dh36.7 billion) Sharia-compliant finance industry.
Bangladesh Bank will consider proposals from parliament’s finance committee to issue more Sharia banking licences and start an Islamic money market, Jahangir Alam, a central bank spokesman, said in a November 24 interview from the capital Dhaka. The country’s seven Islamic lenders, whose assets are growing at 28 per cent a year, now operate under the Bank Company Act and there is only one outstanding Islamic bond, Alam said………………………………………..Full Article: Source

 
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