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Sultan al Suwaidi

Islamic an option for UAE banks

Tue, 2011-03-01 13:56 — newsdesk

The UAE will not follow Qatar in banning conventional banks from operating Islamic services, as its financial system has a different legal framework. Conventional banks will remain free to offer Sharia-compliant banking products. That is the statement of the Central Bank Governor, Sultan al Suwaidi.
Islamic finance banks based in the Dubai International Financial Centre are required to operate within AAOIFI guidelines.

Source: 

http://www.thenational.ae/business/banking/islamic-an-option-for-uae-banks

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