Reduced investor interest in emerging economies could impact capital flows significantly. The impending recession will also impact on Indian exports. 10. To sum up, even EMEs which do not have direct or significant exposure to stressed financial instruments and troubled financial institutions are experiencing the indirect impact of the financial crisis, and this impact is by no means insignificant or trivial.
Despite the uncertainty faced by the industry, I am confident that the Islamic financial industry could maintain its pace of growth in years to come.