Islamic banks urged to develop more instruments to manage risks
Experts stated that Islamic financial institutions (IFIs) should develop more products for them to handle better risks, in light of the recent financial crisis that has affected public image and trust in the global banking sector.
The secretary-general of Islamic Financial Services Board (IFSB) noted that Islamic banks were more conservative than their mainstream counterparts and generally had the capital required under the new Basel III framework, which started the implementation last year.
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