I would also like to take this opportunity to applaud other stakeholders of the Islamic finance industry for their strenuous efforts in achieving stellar growth. Ladies & Gentlemen; Islamic financial institutions have the potential to be major contributors towards growth and broad based development of a country owing to their closer link with real economic activities.
This next graph shows quarterly consumption growth from the national accounts and our current estimate for the March quarter (Graph 4). Consumption growth has slowed considerably from the very fast rates during the COVID bounce-back and it is now below average.