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The Law and Practice of International Banking, 2nd Edition by Proctor, Charles (1st March 2015)

Part G Islamic Finance, 52 Harmonization and the Development of the International Islamic Financial Markets

From: The Law and Practice of International Banking (2nd Edition)

Charles Proctor

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2015. All Rights Reserved.date: 16 June 2019

Subject(s):
Regulation of banks

This chapter focuses on the need for standardization and harmonization within the Islamic financial markets. It discusses the imperatives of standardization; the tawarruq and the sukuk as illustrations of the need for a harmonized approach; enforcement issues; the nature and scope of harmonization; standardized documentation; Shariah rulings; the regulatory framework; capital adequacy; and taxation.

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