Of the six broad criteria that define the presence of fundamental disequilibria in an economy none of them is palpably present in the current state of the Mauritian economy. Instead, Mauritius is for the first time in its history recording four successive years of current account surpluses in its balance of payments. The overall balance of payments surpluses are significant.
The availability of plentiful liquidity coupled with the explosion of real estate projects in the MENA region have conspired to breed a level of, dare I say it, complacency in some Islamic banks. Many Islamic investment banks are project-driven and do not have a steady source of "bread and butter" revenue to tide them over any slumps in economic activity.