For one thing, globalization has likely made the domestic economy more sensitive to foreign shocks, so central banks must now pay more attention to events around the globe. And, the integration of China and other countries into the world market economy has expanded the scale and complexity of the foreign developments that central banks must monitor.
Surveys of the Islamic financial industry tend to show that firms have a comparatively narrow range of financial products to offer their clients. Developing a greater product range will not only benefit consumers. It will also create new sources of revenue that tend to be more stable than those generated by cyclical industries such as real estate.