IslamicFinance.de

Bahrain's central bank is finalising rules for the supervision of sharia-compliant advisory firms. The rules will help small Islamic finance institutions and fund managers to outsource the process of reviewing whether their activities are compliant with Islamic principles. This will enhance their operation and reduce the costs of such services. The central bank is also set to release a new regulatory framework for Islamic insurance, and is studying changes to rules for sharia-compliant financing arrangements which can be offered to accredited investors. In December, the central bank formally combined existing rules for issuing and listing financial securities, including sukuk, in an effort to make the process more efficient.