According to H.E. Mohd Rosli Sabtu, Managing Director, Autoriti Monetari Brunei Darussalam (AMBD), in order to enhance cross border interlinkages between financial centres in the region and globally, it is critical to support a number of vital factors including effective implementation of prudential standards, appropriate liquidity management infrastructure and safety nets that can withstand the test of time, and create a more balanced and stable global financial system.
|
H.E. Halim Alamsyah, Deputy Governor, Bank Indonesia was of the opinion that "the emergence of global money market will reduce the reliance of Islamic financial institutions in mirroring the techniques regularly used by conventional banks that are still within the grey area and debatable in terms of its Shari'ah compliancy. Hence, Islamic finance can maintain its reputation as the sector linking financial intermediary and real sector and slowly close the door
to a heavy use of leverage that once led to global financial crisis."
|
In her keynote address, Tan Sri Zarinah Anwar, Chairman, Securities Commission Malaysia, pointed out that "coordinated efforts must be put in place to overcome the challenges faced by the industry, including the need to create a wider diversity of products, enhance the availability of information and sharing of learning, develop a comprehensive and reliable Islamic finance database, facilitate consistency in the interpretation of Shari'ah and the resolution of disputes. A critical area that needs attention is the shortage of skilled and experienced professionals in the industry."
|
