MAS chairman says Islamic finance can exploit post-crisis landscape


Islamic finance is well-placed to grow and diversify, Tharman Shanmugaratnam, the chairman of the Monetary Authority of Singapore, said today (December 4).

Despite estimated annual growth of 19% a year since 2006 there was still "considerable scope" for the industry to grow, Shanmugaratnam said, as conventional banks deleverage, trade rebalances towards Asia, and consumers look for "back-to-basics" finance.

However, a number of obstacles remained. Shanmugaratnam said differences in the accepted