초록 열기/닫기 버튼
Even though Islamic finance has been started in 1970s, it has recognized one of the most important trends in the international finance market because of its stability in world finance crisis and huge demand of Islamic capital, such as oil money. However, with this increase in the number of Islamic financial institutions, consistent Sharia interpretation became a main concern. Sharia committees of different Islamic banks could issue different rulings on similar practices. To deal with this issue, Malaysia central bank formed the National Sharia Advisory Council, which is the sole authority advising the bank on Sharia issues. Like this example, this article focuses on the regulation and monitering of modern Islamic finance, especially Islamic banking, whether conducted by stand-alone Islamic banks or Islamic windows within conventional western banks. For the decades Malaysia has aggressively expanded its domestic Islamic finance infrastructure to become a global hub for Islamic finance services through: regulatory reform, reduction of ambiguity in Islamic financial services, enhanced research on Sharia matters, development of innovative finance instruments, and establishment of new institutions.
키워드열기/닫기 버튼
Islamic finance, Islamic law, Sharia, Malaysia, Riba, IFSB, Risk, Sharia committee
