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

Islamic banking needs separate regulations and reporting standard

Posted on 14 May 2013

Central banks of the Islamic countries have been urged to adopt a separate set of regulation including a complete new Islamic Financial Reporting Standard to reduce confusion among Muslim scholars, Islamic bankers said at a two-day conference.
They have also urged the regulators to develop an Islamic Inter-bank offered profit rate — to benchmark their rates and reduce dependence of the conventional interbank offered interest rates………………………………………..Full Article: Source

 
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