Ningxia to Spearhead Islamic Finance in China

From Economic Observer Online:

With encouragement from the China Banking Regulatory Commission (CBRC), Ningxia Hui Autonomous Region is set to take the lead in trialling Islamic financial services in China.

If the pilot project is successful, policy makers hope that Islamic financial services will gradually become available throughout North West China.

Lu Suping, Chairman of the Bank of Ningxia’s board of directors, confirmed that the regulatory bodies had given the bank preliminary approval to go ahead with an Islamic Finance trial.

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