Emerging markets must create the valid legal conditions and a “level playing field” to gain access to Islamic finance at the international level, Zamir Iqbal, the head of the World Bank Global Islamic Finance Development Center, has told Anadolu Agency.
“Islamic finance uses the techniques of securitization. This means that a good enabling environment for structured finance is needed”, Iqbal said, while speaking at a G-20 forum on Islamic finance in Istanbul.
Securitization, or structured finance, is the process of taking assets that produce income and using them to create security. In Islamic finance, all securities are linked to income-producing assets.