Therefore, international Islamic institutions and countries regulator need to collaborate to study about the real rate of return that will become a reference for Islamic financial institutions in determining return, instead of referring to conventional interest rates. Ladies and Gentlemen, Beside those four main issues, I would like also raise two additional challenges regarding liquidity and human resources.
Most of us aware that currently Islamic financial markets have limited instruments and restricted access to short-term funding options in raising liquidity as compared to conventional markets. We should think of methods to enhance Islamic liquidity market based on contracts consistent with Sharia principles.