*  *  *  Chairman Sergey M. Ignatiev and distinguished central bankers of the Bank of Russia, I am grateful to Chairman Ignatiev for inviting me to visit your bank and interact with you for mutual benefit.
The prohibition on speculative activity also helps to ensure that there is a close link between financial flows and productive activities. These intrinsic properties of Islamic finance contribute towards insulating it from the potential risks resulting from excess leverage and speculative financial activities. But while Islamic financial institutions have been largely sheltered from the present crisis, there is no room for complacency.