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IV
3.1.3 Securities Infrastructure ..................................................................................................................................................................... 45 3.1.4 Insurance Infrastructure ..................................................................................................................................................................... 45 3.1.5. National Financial Architecture and Infrastructures of Selected Countries ............................................................. 45 3.1.5.1 Malaysia ................................................................................................................................................................................................... 45 3.1.5.2 Turkey....................................................................................................................................................................................................... 46 3.1.5.3 Kingdom Of Saudi Arabia (K.S.A.)................................................................................................................................................ 46 3.1.5.4 United Arab Emirates (U.A.E.)....................................................................................................................................................... 46 3.1.5.5 Bangladesh ............................................................................................................................................................................................. 47 3.2. INSTITUTIONAL DEVELOPMENT................................................................................................................................. 47 3.3. INFRASTRUCTURE DEVELOPMENT............................................................................................................................ 49 3.3.1 Islamic Financial Services Board (IFSB) ...................................................................................................................................... 50 3.3.2 Implementation Challenges for IFSB............................................................................................................................................. 51 3.3.4 International Islamic Financial Market ........................................................................................................................................ 52 3.4. CAPITAL MARKET DEVELOPMENT............................................................................................................................. 52 3.5. LIQUIDITY MANAGEMENT: PRUDENTIAL REGULATION AND LIQUIDITY INFRASTRUCTURE............. 53 3.5.1 Liquidity Infrastructure ....................................................................................................................................................................... 54 3.5.2 Some Recent Developments in Liquidity Management in Islamic Finance ................................................................ 55 3.5.3 Prudential Regulation........................................................................................................................................................................... 55 3.6 ISLAMIC BANKING AND FINANCE REGULATION AND RISK MANAGEMENT IN OIC MEMBER COUNTRIES .................................................................................................................................................................................. 56 3.7. SHARIAH-COMPLIANT LENDER OF LAST RESORT FACILITY............................................................................ 60 3.8. DISPUTE RESOLUTION MECHANISM IN ISLAMIC FINANCIAL MARKETS AND IMPLEMENTATION..... 60 CHAPTER 4: COMPARATIVE ANALYSIS OF RISK MATRICES FOR ISLAMIC AND CONVENTIONAL BANKS 62 4.1 BRIEF DESCRIPTION OF RISK MATRICES.................................................................................................................. 62 4.2 SAMPLE SELECTION CRITERIA...................................................................................................................................... 63 4.3 ANALYSIS OF RISK MATRICES ACROSS MAJOR GEOGRAPHIC REGIONS ........................................................ 64 4.3.1 Asian Region.............................................................................................................................................................................................. 64 4.3.2 Mena Region.............................................................................................................................................................................................. 67 4.3.3 Sub-Sahara Africa Region.................................................................................................................................................................... 70 4.4 ANALYSIS OF RISK MATRICES ACROSS FIVE MAJOR COUNTRY JURISDICTIONS ........................................ 72 4.4.1 Malaysia....................................................................................................................................................................................................... 72 4.4.1.1 Overview of Malaysian Islamic Finance Services Industries ......................................................................................... 72 4.4.1.2 Malaysian Banking Sector ............................................................................................................................................................... 73 4.4.2 Republic Of Turkey................................................................................................................................................................................. 75