Thailand’s Islamic finance tale has largely been dictated by the underwhelming performance of its only Islamic bank, although recent developments seem to indicate that things could turn a corner. DURGAHYENI MOHGANA SELVAM takes a bird’s-eye view of the country’s Islamic finance industry. Regulatory landscape Thailand’s Islamic finance development started in 1987 through the establishment of Pattani Islamic Saving Cooperative. Yet, after 30 years, the country’s Shariah finance sector remains fragmented and underdeveloped at best, due to the absence of proper....