That is, the Bank has pursued powerful monetary easing measures so that short- and long-term interest rates will be stable at low levels. In this situation, an expansion in fiscal spending is likely to have greater stimulus effects without leading to a rise in interest rates. It is therefore expected that the latest stimulus package will underpin the economy through the synergy effects.
Both of these standards could have a significant impact on Takaful firms. We also continue to play a role in the work of the IAIS in developing international standards and in this regard the CBB’s role has been enhanced by being selected as a member of the IAIS Executive Committee for a two-year term.