Page 8 of 9  Second cross cutting theme is Islamic finance. Islamic Banking industry now accounts for 13.6 percent of the country’s overall banking system in terms of assets while in terms of deposits the share is 14.7 percent (as of September 30, 2018).
Some tenets of sustainable regulatory systems In a rapidly changing financial environment, it is clear that regulatory systems must be dynamic and flexible bur must still avoid loopholes where financial institutions can circumvent regulation and benefit from regulatory arbitrage. At the same time regulation must not stifle innovation. The challenge will be therefore to develop systems that are flexible and comprehensive without being onerous.