When we met here about a year ago, then, we were in a period in which expectations were moving quickly, both about the international scene and about the Australian economy. Perceptions about the world economy were to worsen noticeably in the subsequent months. Those about the Australian economy worsened as well, though not as far, or for as long, as those abroad.
The overview of the industry, to which Session 1 is devoted, will show that the growth of Islamic finance in recent years is one aspect of the increased role being played in the global financial system by a number of emerging economies.