And when I see the small business owners that I used to lend to, they tell me that they could not have survived the downturn without low rates. Monetary policy decisions are made by the Federal Open Market Committee (FOMC).
The Islamic finance industry has been able to introduce a scheme of profit sharing instead of prohibited interest payments. This has led the way to the development of a range of financial products, including the Islamic bond, or sukuk. BIS Review 23/2008  1  Islamic finance brings greater diversity The development of Islamic finance brings diversity to financial markets and financial transactions.