This paper aims to contribute to the literature debate on the regulators’ dilemma affecting international financial regulations focusing on the banking regulation of dual financial systems. In this regard, the paper provides a new taxonomy of Islamic Financial Systems considering the banking regulation as a driver for the classification and a more detailed definition of dual financial systems. The literature review reveals the existence of different financial system structures affected by socio-cultural biases due to different characteristics of various countries and financial systems globally. The risk of regulatory arbitrage or over-regulation phenomena is high, stifling the growth and the level playing field for both some systemically financial systems.

本文旨在为有关监管者困境影响国际金融监管的文献辩论做出贡献，重点是双重金融体系的银行监管。在这方面，本文提供了一种新的伊斯兰金融系统分类法，将银行监管作为分类的驱动因素，并对双重金融系统进行了更详细的定义。文献回顾揭示了由于不同国家和全球金融体系的不同特征，受社会文化偏见影响的不同金融体系结构的存在。监管套利或过度监管现象的风险很高，扼杀了一些系统性金融体系的增长和公平竞争环境。