(Reuters) - Here are some of the top quotes from speakers attending the Reuters Islamic Finance Summit being held in Bahrain, Dubai, Geneva, Kuala Lumpur, London and New York:
ADNAN YOUSIF, CHIEF EXECUTIVE, ALBARAKA BANKING GROUP
"It is time we have a move from individuals to institutions. It could be a global sharia board... The reason is people deal with you on international standards. You have to have the right standards."
NASSER AL-SHAIKH, CHAIRMAN, AMLAK FINANCE
"We need to have basic standards. In Malaysia there is a uniform sharia board. We have a wonderful opportunity here, because nobody has done it. We need a sharia reference for the whole industry."
FARES MOURAD, CREDIT SUISSE
"If you invest in Islamic finance products, you tend not to be sensitive to developments in interest rates."
YAVAR MOINI, MORGAN STANLEY & CO
"Let's take a hypothetical -- central bank boards in every GCC country -- that still doesn't give you the guarantee of universal acceptability unless you have the same scholars sitting on every board, and then the sheer quantity of material that they would need to review and approve would be quite daunting. You would still need sign-offs for products -- it's not the easiest exercise to manage logistically."
ATIF ABDULMALIK, CHIEF EXECUTIVE, ARCAPITA
"The credit crisis has good parts and bad parts. The good thing is that valuations are becoming more reasonable now."
ADHAM CHARANOGLU, INVESTMENT DAR
"We all know the UK will be the Islamic finance hub in Europe."
ARUL KANDASAMY, HEAD OF ISLAMIC FINANCING SOLUTIONS,
BARCLAYS CAPITAL
"Everyone has this impression that Islamic finance is this pot of money with nothing better to do than just to throw money at everything. But that is far from the truth. Islamic investors are sophisticated people who know the market, know where spreads are. It is a misconception that it is easy to get money from there." Continued...
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