This is the most challenging task for both governments and central banks. But I am confident that the ECB’s broad-based monetary policy strategy, which has shown itself to be robust and forward-looking, will continue to serve us well in handling this challenge.
Indeed, for a country with Muslims representing 10% of its people, our financial inclusion narrative would be incomplete without touching on Islamic banking and finance. This statement becomes even more relevant when faced with the inconvenient truth that the three poorest provinces in the country are predominantly Muslim, namely: Lanao del Sur, Sulu, and Basilan.