BANKING - Bank Asya: Global crisis contributed to participation banks’ prestige

Bank Asya General Manager Abdullah Çelik

The global financial crisis, which has troubled almost all nations around the world for the past two years, has helped Islamic participation banking gain more prestige worldwide, the top executive of Bank Asya, Turkey’s leading participation bank, said on Thursday. (full story - todays zaman)

LEGAL - 'Islamic finance industry is under regulated'

RIYADH: The total assets of Islamic finance sector in the six-nation Gulf Cooperation Council (GCC) countries, which exceed $600 billion, have prompted the calls for regulating the Islamic finance industry and for imparting more training and skills to professionals working in this area. This was one of the findings of a major survey conducted by Deloitte's Islamic Finance Knowledge Center (IFKC), which was shared by Deloitte's experts, Tuesday.