Islamic Banking Proposals Get IMF Approval
By Ghiath Shabsigh, Ross Leckow, and Zeine Zeidane
Versions in: Arabic, French, Indonesian, and Malay
Islamic banking, a small but fast-growing corner of the financial world, is receiving greater attention from regulators and policy makers. The IMF recently adopted a set of proposals on Islamic banking and called for a more comprehensive set of policies to ensure financial stability in countries with Islamic banking and support the sound development of the industry. The IMF is now calling for additional work and cooperation by its staff with other international agencies to improve the adoption of relevant standards for Islamic banking and to address remaining regulatory gaps. […]