2) It has now come to be accepted that the inter-connected world has ensured that the uncertainties in the advanced economies find their way to developing nations through various channels like the trade, finance, commodity price and confidence channels.
We at the Central Bank of Bahrain are working with the International Islamic Financial Market to set certain standards on some capital and money market products, but banks themselves could work more closely to establish common disclosure standards for the costs of financing. Additionally, we at the Central Bank have noted the continuing need for high quality human resources within Islamic banks.