Islamic finance championed by eight-strong central bank pact

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The governors of central banks within the so-called Developing-8 (D-8) organisation plan to cooperate to promote Islamic finance throughout the regional bloc and to explore how the industry's growth can be sustained.

A joint statement by the group, which includes Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Turkey and Pakistan, revealed there will be an emphasis on stimulating unrealised demand for financial services in the member countries by increasing the amount and availability of

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