Comprehensive Finance Framework Promotes Islamic Banking

Bandar Seri Begawan – The development of a comprehensive legal framework related to project finance and asset securitization will help promote Islamic banking.

Reza Adirahman Djojosugito of the Islamic Development Bank of Jeddah highlighted this matter in his paper delivered today.

He said that most importantly the legal project framework would encourage the transformation of conventional banking into Islamic banking.

At the same time, he outlined the legal aspects of asset securitization and project finance in Indonesia.

Mr Djojosugito outlined the similarities between conventional and Islamic banking, especially in the case of project finance and asset securitization.

“This fact opens up the possibility of a convergence between conventional and Islamic banking,” he said. -- Courtesy of Radio Television Brunei 

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