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| Topic: |
Business
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| Number of pages / Number of words: |
3 / 668 |
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The increase in demand is far outstripping the increase in supply, and in the long run this can only mean higher prices for their services. Even if their high prices are marginalized by higher industry volume, the “hidden costs†of delayed product approvals, missed opportunities, and lower quality (with respect to Islamic principles) products will only rise as the demand further overtakes supply...
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This challenge is highly significant, and unique, especially since there is not even a theoretical solution to this problem.
Fourth, the Islamic sector requires the regulatory framework to be modified to suit the needs of supervising Islamic products. The current framework of every country has been built around conventional banks and their instruments, and as such, product development and operations in the Islamic side have been constrained by these ill-fitting regulations...
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