In the euro area, the so-called Harmonised Index of Consumer Prices (HICP) rose on average by 8.4% compared to 2021. Never before in the history of the single currency was inflation in the euro area as high as in 2022. For several months, we even recorded double-digit figures. However, high inflation has not been a euro area-specific problem, but a global issue.
Besides six full fledged Islamic Banks and permission to conventional banks to render such services, a full fledged Islamic Microfinance Banks (IMFB) would be encouraged also.