Sunday, June 7, 2009

Arabian Business: Islamic banks: Trouble beneath calm waters?

By Reuters

As Western regulators stress test top banks, Islamic finance wants to tighten its regulatory and disclosure framework amid concerns that unhealthy banks may have slipped under the radar.

Few islamic financial firms have reported headline-grabbing losses so far, but the industry's relatively modest size and opaque framework could mask more trouble than appearances suggest, according to bankers and lawyers. (more)

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