Research has demonstrated that monetary policy also works through real estate markets: 10 by compressing both the short and long end of the yield curve, monetary easing typically stimulates mortgage lending and, as a consequence, boosts house prices. 11 This channel might be particularly important for QE, whose express objective is to lower long-term interest rates.
We at the Central Bank will be willing and happy to provide the necessary facilitation and share our views. Ladies and gentlemen: The future of sharia compliant banking and finance in Kenya is bright but the challenges that exist need to be tackled collectively.