However, with the economy following a growth path that outpaces its potential growth rate, the gap is projected to turn positive in the second half of fiscal 2022 and then continue to expand moderately. Regarding inflation expectations, not only short-term but also long-term ones have risen, with the rate of inflation accelerating recently (Chart 10).
Financial institutions in general keep adapting to changing socio-economic environment. Finance does not have to do exclusively with any specific ethnically or religiously defined groups. Islamic financial products are suitably carving out a market. There is indeed a market need for these products and that market is expanding quite fast.