This decade has seen Islamic finance enter into a new phase of development, as its international dimension gained significance, said Zeti Akhtar Aziz, the governor of the Bank Negara Malaysia. The international financial crisis has not discouraged this trend, she added.

Zeti said Islamic financial system has continued, during this period, to become increasingly integrated with the international financial system. She also said, however, as this inter-connectivity intensified, the exposure to