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IMF to add Islamic finance for financial sector assessments
May 25, 2018

The International Monetary Fund (IMF) will incorporate Islamic finance into its financial sector assessments of select countries starting next year, aiming to improve regulation in the growing sector.

Under a proposal by the IMF’s executive board, guidance issued by the Malaysia-based Islamic Financial Services Board would be incorporated into IMF assessments to address the regulation and supervision of Islamic banks.

The IMF said it views the growth of Islamic finance as an opportunity to strengthen financial inclusion efforts, deepen financial markets and develop new funding sources. (Reuters)