Barbadians must be aware of this, and instead of trying to keep them out, they must be prepared to work harder. I take the opportunity here to speak of training. In the context of CSME, our training must be futuristic. We need to look not only at where our firms are today, but where they wish to be and how they get there.
The pioneering work of 1980s particularly on the legal and regulatory front has been a source of guidance and inspiration for many countries that initiated Islamic finance in the 1980s and 90s. The attempt to transform the whole system however, met with limited success largely due to slippages at the implementation and execution stage.