Third, the regulatory framework needs to keep pace with the rapid growth of the industry, and also to  BIS Review 84/2010  1  reflect the lessons learned from the global financial crisis. Let me address each of these in turn. The certainty of Islamic financial contracts has two dimensions.
The first, and the best known, is a fact that we are still some way from developing standard documentation which is recognised as Shari’a compliant by scholars from different jurisdictions and from different schools of Islamic jurisprudence.