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Islamic finance is not ready to go global

Posted on 06 May 2010

From 7days.ae: Islamic finance must become more innovative if it is ever to be part of global mainstream finance, Nasser Saidi, chief economist of the Dubai International Financial Centre Authority (DIFCA), said. He added that the industry also faces few liquidity options, a lack of regulatory compliance and insufficient systems to deal with insolvency.
“One of the major problems in Islamic finance is it has systems for liquidation but not to help with restructuring,” added Saidi, who is also the director of the Hawkahmah Institute for Corporate Governance at DIFCA……………………………………..Full Article: Source

 
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