| From Bloomberg: European Central Bank Governing Council member Yves Mersch said Islamic financial institutions may be more vulnerable to economic slumps. “Islamic banks may suffer more from the real economic downturn that normally follows financial turbulences as the losses of the customers are partly shared,” Mersch said.
“Moreover, the lack of product standardization and the missing harmonization of Islamic standards in general pose risks to the management of liquidity.”.............................................Full Article: Source
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