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Islamic Finance Briefing - Categorized | Banking, Compliance, Tax, Legal, Regulatory, Market Moves more

Accord on Islamic banking signed in Malaysia

Posted on 16 May 2012

Central banks from seven Muslim countries yesterday launched a regulatory body to oversee the booming Islamic investment market. The Islamic Financial Services Board (IFSB) was inaugurated here by founding members Malaysia, Saudi Arabia, Indonesia, Iran, Kuwait, Pakistan, Sudan and the Islamic Development Bank.
The establishment of the IFSB β€” an association of central banks, monetary authorities and other institutions responsible for supervising and regulating Islamic banking β€” was β€œin response to the growing significance of the Islamic financial services industry,” officials said………………………………………..Full Article: Source

 
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