Islamic finance will likely expand faster than mainstream banks this year, and its total assets will top $1 trillion as demand for ethical investments intensifies. However, Islamic financial institutions must guard against straying from the basic tenets of Sharia law if they are to avoid the excesses that led to the global economic crisis.
“The regulatory framework needs to keep pace with the rapid growth of the industry, and also to reflect the lessons learned from the global financial crisis,” said Bahrain’s Central Bank governor Rasheed M. al-Maraj………………………………………..Full Article: Source