In addition, the eastward enlargement of the European Union foreseeable in the next few years has already sparked off a debate on whether the conditions for participation in EMU laid down in the Maastricht Treaty attach enough importance to the aspect of convergence in real terms. I shall, however, not try to answer that question until the final section of my address.
We have recently launched an Islamic Sukuk liquidity instrument, which is a repurchase agreement that enables financial institutions, both conventional and Islamic, to access short-term liquidity against the Government of Bahrain Ijara Sukuk. At the same time, however, the primary responsibility for sound risk management and control resides with the firms themselves.