08.04.2011 - In search for a global standard in Islamic banking
Islamic banking is growing rapidly in the aftermath of the global financial crisis, but it desperately needs a global set of standards that every country and institution accepts. Speaking to the Hürriyet Daily News in Istanbul, an expert says the Turkish Central Bank might ‘take the lead’ in this effort. ‘Risk has no religion,’ says Khalid Ferdaus Howladar of Moody’s, adding that he likes the Turkish term ‘participation bank’ Noting the often-contradictory interpretations of the principles of Islamic banking, Khalid Ferdaus Howladar, the vice president and senior credit officer of Moody’s in the Middle East, suggested that the Turkish Central Bank might “take the lead” in establishing a global standard that would help Islamic banking become more transparent............................................Full Article: Source
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