. In particular, adaptation is needed in the areas of the governance, anti-money laundering and combat the financing of terrorism (AML/CFT), and the financial safety net. 3. Standards for the IB industry have been developed to complement international standards . The establishment in 2002 of the Islamic Financial Services Board (IFSB) 5 (based in Kuala Lumpur, Malaysia) with a mandate to develop prudential standards for IB and financial products, marked a milestone in the development of industry standards. The IFSB has established a number of important standards
by the Islamic Financial Services Board (IFSB) and Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). 4. Based on the selected country experiences, a number of important lessons and policy options can be drawn that have implications for the stable and sound development of IB . These include: An enabling regulatory and institutional framework and a level playing field for conventional and IBs is critical for the sound and stable growth of the IB industry. The country experiences underscore the importance of providing an
. Source: Company reports. References Abouhossein , K. ( 2010a ), European Banks – Regulatory Fears now Over-discounted , JP Morgan Europe Equity Research ( London ). Abouhossein , K. ( 2010b ), Global Investment Banks – Dodd/Lincoln Bill Analysis : Implications for the Structure of the IB Industry , JP Morgan Europe Equity Research ( London ). Abouhossein , K. ( 2011 ), All Eyes on Funding: LCR, the Next Undiscounted Headwind , JP Morgan Europe Equity Research ( London ). Abouhossein , K. et al. ( 2012 ), Global
assets, for derivative reforms and tax changes : The costs are assumed to be spread evenly across the full range of bank activities. References Abouhossein , K. ( 2010a ), European Banks – Regulatory Fears now Over-discounted , JP Morgan Europe Equity Research ( London ). Abouhossein , K. , ( 2010b ), Global Investment Banks – Dodd/Lincoln Bill Analysis: Implications for the Structure of the IB Industry , JP Morgan Europe Equity Research ( London ). Abouhossein , K. , ( 2011 ), All Eyes on Funding: LCR, the Next Undiscounted