Bahrain develops Islamic banking regulatory regime

Bahrain said it has developed a regulatory system for Islamic banking in the island state, and the framework was being considered by banks. Bahrain Monetary Agency governor Sheikh Abdullah al-Khalifa said the framework included both the standards developed by the Accounting and Auditing Organisation for Islamic Financial Institutions and the Basle committee's various guidelines. "I am pleased to report that the agency...has developed a framework, known as Prudential Information and

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