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Islamic banks increasingly outsourcing Shariah supervision

Posted on 05 November 2010

From Thepeninsulaqatar.com: Bankers in Islamic finance are increasingly outsourcing Shariah supervision due to a lack of scholars in the industry, but critics say this is making the sector even less transparent and slowing its development.
The $1 trillion industry rode a five-year oil boom until the 2008 property crash in the Gulf Arab region raised complaints that many of its investment instruments can be seen as mere copy-cats of conventional banking products, threatening the sector’s future growth……………………………………….Full Article: Source

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Laxman - who has written 19163 posts on Opalesque Islamic Finance Briefing.


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