Rasheed Mohammed Al Maraj: Challenges facing Islamic financial institutions Speech by His Excellency Rasheed Mohammed Al Maraj, Governor of the Central Bank of Bahrain, at the 14th Annual World Islamic Banking Conference 2007, Manama, 9 December 2007. *  *  *  Fellow Governors, Excellencies, distinguished guests, ladies and gentlemen.
Market segmentation Continuing market segmentation in India is the biggest undoing of an efficient, deep, liquid, organically connected, and seamlessly integrated financial market which is also a “sine qua non” for effective, efficient and instantaneous monetary transmission. Market fragmentation/segmentation contributes to price distortion and inefficiency.