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Document Type
Conference Paper
Publication Date
5-15-2007
Conference Name
4th Islamic Financial Services Boars (IFSB)
Conference Location
Dubai
Conference Dates
May 15-16, 2007
Series
Faculty Research - Book Chapters and Conference Papers
First Page
1
Last Page
5
Keywords
Finance, Islamic financial services, Difficulties, Opportunities
Abstract / Description
We begin our discussion of the Islamic Financial Services Industry (IFSI) by examining the context and the emerging trends in which this industry will be operating in the future. We also assume that the IFSI will become an integral part of the international financial system, its reach and coverage will extend both to the countries where the majority of Muslims are residing but also to other parts of the globe and that even in the majority Muslim countries the IFSI will coexist with the Conventional finance. Under these sets of assumptions let us first look at the international context. The emergence of Conglomerates combining banking, securities, asset management, insurance activities in one organization and merger and acquisitions (M&A) activities have led to consolidation of the industry. This trend is on the rise not on decline as can be seen from the present bid for ABN – Amro Bank by Barclays Bank and the Royal Bank of Scotland. Financial Institutions (FIs) transfer – within and across borders – a range of risks that had previously been held on their balance sheets and risk management capacities in general have been strengthened within institutions. It is, however, unclear where the ultimate risk resides across institutions.
Recommended Citation
Husain, I. (2007). A cross sectoral approach to the supervision of Islamic financial services: challenges and opportunities., 1-5. Retrieved from https://ir.iba.edu.pk/faculty-research-series/178