SAMA governor outlines challenges facing Islamic banking sector

Sama governor Ahmed Abdulkarim Alkholifey. Photo: SAGIA

Creating a unified set of accounting standards and ensuring proper management of liquidity risk are two outstanding issues facing the Islamic banking community, according to the governor of the Saudi Arabian Monetary Authority.

Speaking at the 23rd World Islamic Banking Conference on December 6, Ahmed Abdulkarim Alkholifey outlined issues that are currently preventing Islamic banking from achieving its "full potential".

"A universally accepted set of accounting and auditing standards, to be

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