IslamicFinance.de

According to Islamic Wealth Management (IWM) Report 2012, the Gulf Co-operation Council (GCC) should have a unified rule under one regulator for Islamic investment products for ensuring lower cost of funds.
Bank Sarasin managing director and head of Islamic Finance Fares Mourad and Monzer Kahf, a leading Islamic finance scholar lkaunched the report.
the report presented the fact that reducing expenses and increasing the availability would increase competition, benefiting local investors and further the GCC’s development as a centre of excellence for Islamic finance.

Chris Agabi reported on 16 January on allAfrica about the discussions held at the Lotus Capital Seminar series. Professor Mohamed L. Bashar, an Islamic finance and economics lecturer and a board member, Lotus Capital Limited has advocated for a defined regulatory framework to support the growth of Islamic finance in Nigeria, while the guest speaker Professor Monzer Kahf, and Chairman of the Sharia Advisory Board of Lotus Capital, noted that legislation may not necessarily be the biggest impediment but political will - legislation for the conventional financial system does not generally affect Islamic finance.