SAMA governor outlines challenges facing Islamic banking sector

Unified accounting standards would “comfort” regulators and 'improve transparency' for industry

ahmed-abdulkarim-alkholifey
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

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.