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Lack of data, information stagnate research on Islamic finance
23 Mar 2022 | Wednesday Source: The Malaysian Reserve
Lack of research, data and insufficient information in Islamic finance industry are seen as the key challenges that stagnate the industry, says Islamic Development Bank VP finance and CFO Dr Zamir Iqbal.
“If you try to replicate some studies purely based on Islamic finance (but) you don’t have the available data, and even if you have the data, it is kind of contaminated or it sometimes does not serve that purpose,” he said during Maybank Islamic Bhd’s virtual Global Connect Forum yesterday.
Zamir pointed out that the Islamic finance industry is still very much at an infancy stage and has not taken off to explore different kinds of potentials and opportunities.
He said the industry is trying to survive in a conventional financial environment which has matured and has been rooted in each kind of aspect of the society, whether it is the legal framework or the constitution and others.
