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During the 10th Islamic Financial Services Board (IFSB) Summit key leaders discussed the industry’s developments following the global financial crisis as well as regulatory reforms, cross-sectoral approach to the regulation of Islamic finance, and prospects and challenges for new jurisdictions. The event was held on 16 and 17 May in Kuala Lumpur and hosted by Bank Negara Malaysia. It consisted of three sessions themed “Financial Regulatory Reforms: Global Overview”, “Cross-sectoral Approach to the Regulation of Islamic Finance and Market Development: Lessons Learnt” and “New Markets, New Frontiers – Prospects and Challenges”. The panel discussed issues like initiatives undertaken by the Basel Committee in recent years, supervision of all the sectors of Islamic finance as well as progress and development, prospects and challenges faced by the IIFS.