GLOBAL: The GCC has been urged to unify rules under one regulator for Islamic investment products to ensure lower cost of funds, according to the Islamic Wealth Management Report 2012 by Bank Sarasin.
The unified rule will also allow asset managers to market the product to clients across the region more productively.
Currently, offerings comply with different regulations in Bahrain, Kuwait, Saudi Arabia, Oman, Qatar and the UAE, resulting in a lengthy and expensive registration process.