Monetary policy stance Just this afternoon, in our latest monetary policy assessment, the BSP maintained its key policy rate steady at 3.0 percent for the overnight borrowing or reverse repurchase (RRP) facility. Corresponding rates on overnight and deposit facilities were also kept unchanged.
Several issues and questions arise in the minds of regulators confronted with the task of supervising and regulating Islamic banks. Some methods for mobilizing funds, for example, would require asset-management instead of the conventional concept of fund management. This is an area where the Central Banks do not have either adequate expertise or much knowledge.