Islamic sovereign wealth fund over mega bank?
An Islamic SWF, also seen as a fund-of-funds, may actually be the necessary spark to jump-start a global Islamic asset management or, in today's hub-centric parlance, an Islamic asset management hub!
The industry has been talking up an Islamic mega bank for a few years, from Sh Saleh Kamal to Malaysia
In the post-crisis period, G-20 regulators are examining "ways and means" to reduce the systemic risk.associated with the mega-banks. Islamic finance industry, without a lender of last resort and sporadic Islamic deposit insurance, needs to examine the suggestions before wholesale adoption of a proposed mega bank.