INTERVIEW: Economist urges top Islamic finance body to cut risks

Tariqullah Khan, a prominent economist in Islamic finance, has called for the creation of an "apex body" that would set policy for the industry globally, to cut risks that could contribute to a financial crisis. The professor of Islamic finance at Qatar's Hamad bin Khalifa University proposed the body comprising national regulators, central bankers and other stakeholders. It would help to promote the standards of the Bahrain-based Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) and the Malaysia-based Islamic Financial Services Board (IFSB).