TY - JOUR
AU1 - Mazhar M. Islam
AB - In recent years, the central monetary authorities of some Gulf Cooperation Council countries have made several regulatory changes in order to achieve social & economic goals. The monetary authorities of these countries have strengthened prudential norms. Asset classifications and provisioning norms have moved closer to international standards. Banks are required to maintain capital to risk weighted assets ratios of 8 per cent required by the BIS. Local banks follow International Accounting Standards. Although the central monetary authorities of the GCC countries are active in supervising and monitoring their regulations on financial institutions, but not in a rapid way. In a global financial market, Islamic‐banking regulators that operate Islamic banks should think about the compatibility of the regulatory setting. Through a deep understanding of the nature of the Islamic banking business and the recent western banking supervisory framework, Islamic banking regulators will be able to develop a sound banking system without loosing its own distinction.
TI - Regulations and supervision of financial institutions in GCC countries
JF - Managerial Finance
DO - 10.1108/03074350310768328
DA - 2003-08-01
UR - https://www.deepdyve.com/lp/emerald-publishing/regulations-and-supervision-of-financial-institutions-in-gcc-countries-q2PpdDE9Fo
SP - 17
EP - 42
VL - 29
IS - 7
DP - DeepDyve
ER -