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Wednesday, 22 August 2007

Islamic Financial Services Council Affirms Importance of Setting Control Standards for Islamic Banks

Damascus, (SANA) – Meetings of the technical delegation and workgroups of the Islamic Financial Services Council kicked off on Tuesday in the headquarters of Central Bank of Syria. Members from ten international central banks participate in this conference, which aims to set control standards for Islamic banks. Governor of Central Bank of Syria Adib Mayala affirmed that Syria has been giving special care to Islamic banking since issuing a special law allowing the founding of Islamic banks. He stated that Islamic banking has become a basic demand, and that these banks meet the needs of most sections, from citizens with limited income to investor and companies. For his part, Chairman of the Islamic Financial Services Council Rifat Abdelkarim said that the standards that the meetings set will be used by central banks to supervise Islamic banks in order to ensure the stability of financial work in them. - (SANA, 21 Aug 07)
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