02.12.2011 - Basel III doesn’t work for Islamic banking
Independent and robust business models are the need of the hour for the Islamic financial sector and the proposed Basel III norms have widened the faults between the conventional and Islamic banking. Moreover, Islamic banks’ balance sheet size is limited and there are limited interactions between Shariah-principled lenders and their conventional counterparts while engaging in syndications, Abdulkader Thomas, an adviser with Shape Financial, said. “The Basel III framework does not work for Islamic banking,” he said, adding austerity measures in the Western world would impact upon hydrocarbon prices and would have a knock on effect on the Islamic finance sector...............................................Full Article: Source
Print