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Groups to assess the performance of Islamic financial system

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Points of Essence:

  • A Task Force has been set up in Kuala Lumpur to study the performance of the global Islamic financial system. The initiative moved by the Islamic Development Bank and driven by the Central Bank of Malaysia, the task force will deliver a report by September for proposals to enhance the resilience of the Islamic financial system. The Star has the report.

KUALA LUMPUR: The Task Force for Islamic Finance & Global Financial Stability has set up three working groups to assess the performance of the Islamic financial system amid the current financial crisis.

They will look at promoting greater understanding of Islamic finance, how Islamic finance needs to be developed to enhance the resilience of the Islamic financial system..

The inaugural task force meeting yesterday, organised by the Islamic Research & Training Institute, was chaired by Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz and comprised a number of eminent personalities and experts from member and non-member countries of the Islamic Development Bank (IDB) group.

The task force was proposed during the forum held by the IDB on Oct 25, 2008, in response to the global financial crisis, and was endorsed by the Council of the Islamic Financial Services Board.

A preliminary report will be discussed at the task force’s next meeting on March 28. The final report is expected to be completed in September.

Source: thestar.com.my

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Written by Suapi Shaffaii

January 21, 2009 at 2:35 pm

Posted in General Issue

Tagged with , , ,

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