In recent years, a strong global economic expansion has contributed significantly to a sharp rise in the prices of energy and some other commodities. With energy and other commodities accounting for about 45 per cent of our total exports (and some 13 per cent of all value-added economic activity), these relative price movements have led to a substantial improvement in our terms of trade.
So far these debates had been concentrated around conventional banking but now it is widely gripping the world of Islamic Finance (IF). Stronger inter-dependencies among different segments of IF are emerging largely because Islamic Financial Institutions (IFIs), in principle, have features and inherent characteristics and more compulsion, than conventional banking, to conform to universal banking or to evolve inter-linkages among different market segments. II.