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Jakarta sharpens Islamic finance supervision

Market regulator's agreement with Syariah board goes for preferred centralised approach

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Published Fri, Nov 14, 2014 · 09:50 PM

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    Jakarta

    INDONESIA'S capital-market regulator has signed an agreement with the country's national Syariah board to strengthen supervision of the Islamic finance industry, supporting a centralised approach being favoured elsewhere around the globe.

    A country-level approach to regulating Syariah-compliant financial services was pioneered by Malaysia in 1997 and is gaining traction elsewhere as authorities try to standardise industry practices and improve consumer perceptions.

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