He is the expert and he ought to be able to do it.
But I think the government is looking for a stamp of approval more than anything else. GOP would not be seriously bothered about what banking system is being run. It is made of babus from bottom to top. Did you hear the new joke about Pakistani babus?
It goes something like this: "Pakistan has created a new missile.Its called a civil servant. It neither works nor can be fired."
In any case, I am reminded about a PhD dissertation I read 19 years ago. It modeled the Islamic banking system and compared it with the conventional model. The upshot was that theoretically Islamic finance creates a dynamic (as opposed to static) rate of return on investment, that self-adjusts to investment climate via investor-financier negotiations in real-time. A static conventional model that fixes returns does not have that extra degree of freedom.
Practically speaking, there are too many variables and problems in implementing an Islamic-inspired system. One could start by creating a database of entrepreneurs and track their financial history to establish their credit rating for perspective investors. As one can see, this is not traditional banking.
