16.05.2012 - Accord on Islamic banking signed in Malaysia
Central banks from seven Muslim countries yesterday launched a regulatory body to oversee the booming Islamic investment market. The Islamic Financial Services Board (IFSB) was inaugurated here by founding members Malaysia, Saudi Arabia, Indonesia, Iran, Kuwait, Pakistan, Sudan and the Islamic Development Bank. The establishment of the IFSB β€” an association of central banks, monetary authorities and other institutions responsible for supervising and regulating Islamic banking β€” was β€œin response to the growing significance of the Islamic financial services industry,” officials said...............................................Full Article: Source
Print