The Bank’s policy is to intervene only when the exchange rate is at exceptional levels; when it is unjustified by medium term economic fundamentals; when intervention is seen as consistent with the Policy Targets Agreement; and when market conditions make intervention opportune.
So I thought in this Welcome Address I would talk about one area where the Central Bank, as a regulator and as a member of AAOIFI has a special interest. And that subject is Governance. AAOIFI currently has issued seven standards relating to governance and two standards with respect to ethics.