MAS managing director on challenges to Islamic finance
Ravi Menon, the managing director of the Monetary Authority of Singapore, spoke on June 5 about the challenges facing the Islamic finance sector.
Opening the third Annual World Islamic Banking Conference in Singapore, Menon praised the "thriving" Islamic finance sector, but warned that a number of "key challenges" had to be overcome if growth was to continue.
Menon said these challenges include contagion risk from the eurozone, adaptation to global regulatory reforms, and the need to expand in
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