MANAMA: The Islamic finance industry needs to come up with a set of standards that reflect the economic reality of the Islamic transaction rather than the money market price, Central Bank of Bahrain (CBB) Governor Rasheed Al Maraj has urged.
He was speaking during the opening of the 20th Annual Sharia Board Conference of the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI), a Bahrain-based standard-setting body .
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