Islamic financial institutions have become increasingly involved in structuring and financing development projects in the region. Since Islamic financing must be based on real underlying assets, and preferably in the form of equity participation to create an equitable distribution of wealth, the opportunity for Islamic banks to participate in projects relating to infrastructure, industry and housing is unlimited.
1 However, the Federal Reserve met this mandate principally by issuing currency as needed to damp seasonal fluctuations in interest rates, and during its early years the Federal Reserve did not monitor the money stock or even collect monetary data in a systematic way.