There are issues regarding the basic structure of sharia products, both for asset finance and  BIS Review 109/2009  3  fund raising or liability products. These products require further clarification and clearer guidance not only from the banks but also from the authorities.
Both the Board and the Bank’s staff welcome this review and we have already had constructive discussions with the Review Panel. We look forward to discussing with this Committee the topics raised by the Review at this and future hearings.