15.05.2013 - Bankers urge Islamic banks to develop their own financial reporting standard

Central banks of the Islamic countries have been urged to adopt a separate set of regulation including a complete new Islamic Financial Reporting Standard to reduce confusion among Muslim scholars, Islamic bankers said. They have also urged the regulators to develop an Islamic Inter-bank offered profit rate — to benchmark their rates and reduce dependence of the conventional interbank offered interest rates.........................................Full Article: Source

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