Shariah Finance continues to gather pace with a recent report estimating that assets now exceed $1.7 trillion and are projected to reach $2.7 trillion by 2010. However, this is not without its challenges and debates. Amongst other challenges that have been highlighted, there is continued debate on the need for a central Shariah Council to introduce standardisation across the industry. It is important that we balance this need against that for continued product innovation and the ability to introduce new solutions to the market in a timely manner. The industry doesn’t need to be constrained but governed.