Although the data reported does not distinguish between households by income, the height of some of the bars clearly suggests that these motivations cut across income groups. Let us focus on the four most frequently occurring responses. Of these four, we have already spent a fair amount of time on ceremonies.
Despite these positive developments which I have sketched above, I will be remiss in my duties if I do not put forth the enormous challenges in Islamic Finance and let me tell you there are many. (a) Fund Mobilization: The ways in which Islamic banks can and do mobilize funds are all non-conventional and, in some ways, new to the regulators.