No, it can’t borrow directly from the European Central Bank. Since 2015, as we discussed, we have been making purchases on the secondary market, after public debt securities have been issued by the governments. But we are only doing this to a limited extent, and we have imposed an upper limit on these purchases. € trillion – that’s quite the upper limit!
These sound principles are exemplified by the work that Professor Archer has done over the years, both with AAOIFI and with the IFSB. He has provided an example that everyone involved in the Islamic financial industry should seek to follow.