The need for the reinvention of the business model of Islamic financial institutions is just as great. For about 12 months after the crisis first reached this region, there was an understandable tendency to believe that it would be just a temporary interruption to a story of strong growth.
So let’s not waste any time. 1 See Rostagno, M., Bindseil, U., Kamps, A., Lemke, W., Sugo, T. and T. Vlassopoulos, (2016), “Breaking through  the zero line: The ECB’s negative interest rate policy”, Brookings Institution, Washington DC, 6 June 2016. Presentation available on the Brookings Institution website.