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COUNTRY REPORT
There is an initiative by the Securities and Exchange Commission of Sri Lanka to enact a law on securitization to facilitate the issuance of assetbacked securities through the creation of special purpose vehicles and for the regulation and supervision of securitized transactions
Conclusion
The increasing acceptance of Islamic banking and nance in Sri Lanka is apparent. There are now eight institutions in the market and ve educational institutions offering Islamic nance courses as well as workshops to generate awareness among Sri Lankans. So, in order to nurture this industry in Sri Lanka, it is critical for us to rst understand the principles and advantages of Islamic nance. Muath Mubarak works for First Global Group, a Sri Lanka-based conglomerate of companies involved in the Islamic nancial industry. He can be contacted at muath.2009@gmail.com
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