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Islamic Banking
Title: Islamic Banking
Category: Law & Government / Government & Politics
Details: Words: 1067 | Pages: 4.5 (approximately 235 words/page)
Islamic Banking
IT HAS been estimated that Islamic banking has grown not only at the annual
rate of 15 per cent over the past five years but has also been expanding
outside its traditional borders of Muslim economies. Its current market size has
been estimated at billions and projected to grow around 0 billions in the
early part of this century. In some countries like the Islamic Republic of Iran,
Pakistan, and Sudan, all banks and financial institutions operate …showed first 75 words of 1067 total…
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…showed last 75 words of 1067 total…by the Basle
Committee on Banking Supervision are useful and provide a valuable reference.
In countries where both systems operate, the supervisory authorities should
recognise the need to set up a regulatory framework that, while consistent
with Islamic precepts, would be pragmatic and flexible enough to meet
internationally-accepted prudential and supervisory requirements. Effective
prudential supervision of Islamic banks in their home countries is important to
foster closer integration between Islamic and conventional banking systems.
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