The rapid growth of islamic finance has provided both opportunities and challenges to the key stakeholders with interests in this unique area of business.

Unlike the days when the size of the industry was small and those involved in it were driven by simpler considerations such as just driving their interests with an aversion for ‘riba’ or interest, the evolution of islamic finance on the global financial stage to an estimated size of up to $500bn, has brought home the need for globally accepted standards.