VOL. XLVII

No 07

16-February-2004

REGIONAL BANKING

Challenges For Islamic Finance In A Riba-Based Global System

This special comment is an edited version of a speech delivered by Andrew Cunningham, a Senior Vice President in Moodys London office, at the Program of Seminars in Dubai organized by the World Bank on 20-22 September 2003, coinciding with the annual meetings of the World Bank and the IMF.

How to include Islamic financial institutions within the global regulatory system has long been one...