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RAPPORT JOUINI ET PASTRE : Enjeux et opportunités du développement de la finance islamique pour la place de Paris
Paris EUROPLACE 08-12-2008

For Paris EUROPLACE priorities should be given to certain areas as :
- reinforcing the conceptual framework of accounting standards and the governance of the standard setter's body
- Bank capital and leverage : uniform capital requirement and definitions ( tier 1), improvement of risk assessment, recapitalization of financial institutions based on a level playing field principle
- Credit Rating Agencies regulation: a clear regulatory framework with mutual recognition mechanisms between EU, USA and other concerned regions.
- Hedge Funds: proportionate regulation / supervision based on disclosure on key features as leverage and assets structures.
- Extended usage of Clearing houses (CCPs) for CDS & OTC derivatives
- compensation practices, based on common principles about content, time horizon and governance
- regulatory cooperation & convergence and supervision of systemic global institutions
- off shore financial centres :uncooperative jurisdictions should be identified based on clear criteria and global regulation should define the outcome when transacting with them.


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