2 A second lesson is that, while even if it is appropriate for fiscal policy to play a larger role when policy rates are near zero, policymakers nevertheless may face constraints in implementing fiscal stimulus. This means that central banks need to be prepared to employ all available tools, including unconventional policies, to support economic growth and to reach their inflation targets.
We have an effective coordination mechanism with SECP – the capital markets and NBFIs’ regulator – and I am sure that the non-banking Islamic financial services industry would also be growing in tandem with the Islamic banking industry. Ladies & Gentlemen!