ISLAMIC FINANCE
May 1st, 2002
BY MARK ROWETHE INTERNATIONAL Monetary Fund is to help set up an Islamic Financial Services Board to regulate and lay down standards for financial transactions throughout the Islamic world. A key aim of the project is to incorporate the special insurance tenets that exist in the Islamic business world into the wider capitalist system.The IFSB will set and disseminate a voluntary code of standards and adapt existing international standards for supervision and regulation, consistent with the Shariah principles governing the industry. Islamic Shariah rules and ...
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