IFN Weekly Poll: In terms of product development, creating Islamic products from the ground up is preferred, but time-consuming compared to ‘wrapping’ conventional products. In practice (as opposed to theory) what does the industry need to continue its up
As the industry moves forward, product development and innovation becomes an integral part of an upward growth trajectory. More often than not, Islamic financial products were developed using conventional financing tools as templates, which were made to fit into instruments that pass the Shariah screening test. This week IFN asks the industry if this practice should change. NABILAH ANNUAR reports. With a resounding ‘yes’, industry practitioners believe that Islamic banking and financial products should be built from the ground up.....
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