Media Type
Keynote Address
Publication Date
5-16-2007
Description
Prudential regulations, supervisory mechanisms, monitoring and enforcement arrangements are as important to Islamic finance industry as they are to the rest of the financial industry. The only distinction is that the institutional arrangements governing Islamic finance are to be derived from the specific nature and characteristics of Islamic financial institutions, Islamic financial markets, Islamic financial instruments, Islamic banking laws and the Islamic financial infrastructure. This paper based on a cross country comparison of seven countries which account for most of the Islamic finance activities in the national jurisdictions attempts to highlight the question of adequacy of these institutional arrangements, pleads the case for a unified single regulator and flags some unresolved issues that need to be addressed by the regulators and industry participants together.
Recommended Citation
Husain, I. (2007). Prudential Arrangements for Stability and Development of Islamic Finance. Retrieved from https://ir.iba.edu.pk/faculty-research-talks-speeches/179
Notes
Merged version of a paper presented at the 4th International Islamic Financial Services Board (IFSB) summit held at Dubai on May 15-16, 2007, and a paper presented in 2007. IH0280 (III)