In order to support economic exchanges involving Islamic banking, an area in which economic cooperation is expected to increase in the future, we signed an MOU with the Central Bank of the United Arab Emirates last week.
However, Ireland can fain forget that in the matter of governance of banks or insurers, as in other matters, the issuance of regulations, however well meaning, is no guarantee that their spirit will be observed or that their aim will be achieved. Solvency II can be commended for bringing out governance requirements.