A prominent obstacle in the accomplishment of this task is the lack of uniformity in specific forms of Islamic principles in Muslim countries. Certain Islamic banking procedures and financial instruments that are accepted in one Muslim country may be rejected in another 5 Muslim country.
The variants of Islamic banking practices make generalisation difficult as to what constitute standard and universally acceptable Islamic banking principles. It is deemed imperative to reach a paradigm version of Islamic banking that could be used as a benchmark for the crafting of an effective regulatory system and supervisory norms.