The current prudential framework that applies to Islamic financial institutions is based closely on that developed for conventional ones. Although adjustments have been made to reflect the special nature of Islamic financial institutions, the basic framework is similar to that of the Basel II Capital Adequacy Standards and other prudential rules that the Basel Committee has developed over the years.
Hans Tietmeyer has time and again stressed the importance of taking a longerterm view. He has also pointed out - although this is perhaps less known - that economies do not operate in isolation. Historical developments and the wider social and cultural environment should be taken into account.