INDONESIA - REGULATIONS - Will BI Revised Compliance Test and proper Islamic Banking

REPUBLIKA.CO.ID, JAKARTA - Bank Indonesia (BI) will soon revise the rules and proper test of the ability of Islamic banks. Director of the Directorate of Islamic Banking BI, Mulya Siregar, said the central bank would simplify the stages of the fit and proper test for Islamic bankers.

Although so far its provisions are different from the conventional, he said it would harmonize with the existing provisions in the conventional. "There used to be eight stages, now four," he said. (source)