1. This shift can be seen to a certain extent in the findings of the reviews conducted in UK, ‘The Turner Review: A Regulatory Response to the Global Banking Crisis’ (March 2009) and more clearly in ‘The Independent Commission on Banking: Final Report), which is foundation of the Financial Services (Banking Reform) Bill 2013.
2. Financial Conduct Authority (2013) High-level proposals for an FCA regime for consumer credit. Consultation Paper 13/7, March, p. 12,
http://www.fca.org.uk/your-fca/documents/consultation-papers/fsa-cp137
, accessed 4 April 2013.
3. Financial Services Authority (2009) Regulating retail banking conduct of business. Policy Statement 09/06, April, p. 2,
http://www.fsa.gov.uk/pubs/policy/ps09_06_newsletter.pdf
, accessed 2 May 2013.
4. Jenkins, P. (2012) HSBC’s Islamic closures highlight dilemma. Financial Times 7 October.
5. The concern over the integrity of the sector has been suggested by Tarek El Diwany, senior partner at Islamic consultancy Zest Advisory in London, see ibid.