Moreover, it would be better if every country that develops Islamic finance voluntarily adopt those regulations and standards. For instance, Islamic finance regulator in each country is encouraged to adopt voluntarily risks management standard released by IFSB. Again, due to its uniqueness, we should not apply the same approach of assessing risks in Islamic finance in a similar way with conventional institution.
For example, profit-loss sharing portfolio may expose the bank from the loss incurred by the third party. Hence, Islamic financial institutions should adopt suitable global regulations and standards. It will create regulations uniformity that will spur harmonization and further integration of global Islamic finance. My third point will be about Islamic Financial Stability.