France’s Noyer welcomes Islamic finance
Authorities must take steps to ensure that Islamic banks are able to fit into the French banking industry, said Christian Noyer, the governor of Banque de France.
Noyer highlighted three issues in particular. He said the role of Shari'ah boards in governing Islamic financial institutions would have to be considered, along with the legal classification of profit-sharing investment accounts. The third issue he raised was liquidity management and access to Eurosystem funding, asking how the
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