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Published in:
2020 | OriginalPaper | Chapter
5. Compliance
Author : James Simon Watkins
Published in: Islamic Finance and Global Capitalism
Publisher: Springer International Publishing
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Abstract
Compliance is the critical requirement for all investors and consumers in order to trust the veracity of any financial product. This chapter considers how the need to meet compliance requirements has led to financial service firms employing shari’a scholars, the role of multilateral institutions in overseeing the Islamic finance industry and how financial scandals in the early years of the industry have helped inform contemporary compliance requirements.