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Borrowing costs for Gulf issuers are already falling since Sunday's announcement
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Dr Jarmo T. Kotilaine, Chief Economist, The National Commercial Bank, Saudi Arabia
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Istanbul, 16 May 2012 – The intrinsic strengths of Islamic financial services industry, if fully explored, could help build a robust, resilient and just financial system that not only supports growth and economic activity but also ascertains a more inclusive financial system. This was among the discussions made by the distinguished speakers at the Opening and Keynote Session of the 9th IFSB Summit that commenced in the Istanbul, Turkey today. The 2-day IFSB Summit themed as “Global Financial Reforms: The Changing Regulatory Model and Islamic Finance” is being hosted by the Central Bank of the Republic of Turkey and is being attended by more than 200 delegates across the globe comprising of officials and representatives from international institutions, supervisory bodies, market players, academia, rating agencies and other stakeholders of Islamic financial services industry.