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DFSA warns of global threat to Islamic banking industry

Posted on 21 May 2010

From Thebriefonline.com: Dubai’s financial watchdog has warned his international counterparts not to pigeonhole Islamic finance under existing conventional banking regulations. Treating Shariah financial services under the traditional model will snuff out any potential growth in the fledgling industry, said Peter Casey, head of Islamic Finance at the Dubai Financial Services Authority (DSFA).

“We’re in a world where there’s more pressure to apply standards generally, and the unthinking response is to apply conventional ones, forcing Islamic banking into that role……………………………………..Full Article: Source

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