There may be questions of accounting. I do not have any knowledge or information on Islamic accounting. The one article I did come across was somewhat over my head. Another area which I cannot explore today is extent to which a particular arrangement resembles a mutual fund where the investors money is pooled into investments that meet Islamic requirements. It seems to me that this fits within our traditional notion of a mutual fund.
Many mutual funds target certain types of investments.
This does not strike me as a complex issue, although, I need to remind you that I am a simple central banker and not a securities regulator. I would like to come full circle. I have enjoyed preparing for this presentation because it opened new windows of the world to me. I had an elementary understanding of Islamic banking when I started to prepare for this talk. I have learned much and indeed have much more to learn.