IMF say Islamic banks need to improve transparency

An International Monetary Fund official said in an interview that Islamic banks need to provide more information on how they do business.

Lenders need ``a unified standard that will improve transparency and become a benchmark for any investor from anywhere,'' Ghiath Shabsigh, the IMF's chief for the Middle East and Central Asia, said in an interview in Doha, Qatar, on May 25. The information banks release can ``differ quite a lot across countries depending on the national rules.''

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