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Islamic Finance Briefing - Categorized | Banking, Market Moves more

Bankers urge Islamic banks to develop their own financial reporting standard

Posted on 15 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.
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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