Working out the Islamic Banking Knots

The latest initiative of the Islamic Development Bank (IDB), working jointly with the Asian Development Bank (ADB), to set up Asia’s first major multi-country Islamic infrastructure support fund is a good step forward. But in Indonesia and other Asian countries there are obstacles. Lack of access to finance is not the main problem. Projects are frequently blocked by lack of project preparation capacity, poor regulatory frameworks, lack of functioning deal-structuring models, bureaucracy and corruption.

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