We continued the innovation with the introduction of a world-first top-to-bottom clear window in our new banknote series, which we began releasing last year. The second note in the new series – our ten dollar – was released just over two months ago and a new $ is scheduled for release in just under twelve months from now.
Instead, Islamic financial institutions need to build diversified sources of revenue, relying not only on placement and performance fees, but also on the steady stream of income generated by such an unglamorous but essential activities as advisory services, asset management, and providing financial services to retail clients. Diversification of the industry will need to go hand in hand with its consolidation.