3.4  Monetary and financial statistics  The Bank of Albania plays a key role in the national statistical system, as an institution responsible for the production and dissemination of monetary statistics and external sector statistics. In 2009, the Bank of Albania continued to develop and disseminate monetary statistics and external sector statistics, aiming at:   the further approximation of the methodology with the recommendations and best international practices,    enhancing the quality of data through the improvement and automation of control processes, and    increasing the number of released indicators and detailing of aggregate indicators. 3.5  Strengthening of research capacities  Based on the tradition of the best international models, the Bank of Albania has been ever-increasingly paying special attention to enhancing the research capacities in the field of economy and finance. Our guiding philosophy has been the improvement of the Bank of Albania decision-making, basing it on scientific conclusions and empirical results. The study of different economic phenomena is now based on complete or partial econometric models that allow the drawing of conclusions and reliable forecasts. Our future challenge will be the further refining of these models and their growing use in the Bank of Albania decision-making. 4. Bank of Albania’s financial statements  The financial statements of 2009 were audited by an Independent Auditor and they give a true and fair view of the Bank of Albania’s financial position for 2009. Bank of Albania’s financial position has improved further.
Islamic finance practitioners in principle, are at a minimum, duty-bound to observe the norms of high ethical conduct to uphold the values and the sanctity of Shariah. Principles alone however, do not insulate Islamic finance from experiencing conduct risks. Examples in the past from various cases of frauds, breach of trust and mismanagement have occurred, exposing Islamic finance to reputational risks. Operational safeguards remain critical in the day-to-day decision making and business operations. Islamic finance must also continuously reflect on whether the governance arrangements, practices and business models of their institutions are effective and impactful. Islamic finance can lead in financial inclusion and governance Today, Islamic finance has already established itself and garnered significance in many parts of the world. Though much of this appeared as a natural outgrowth of growing prosperity in many Muslim countries, it did require governmental support and regulatory pushes. In Malaysia, where the modern form of Islamic finance has developed for over 40 years, the national strategy to develop Islamic banking and finance was driven from two perspectives, as an initial strategy for financial inclusion and to later on position the country as a leader in Islamic finance. In financial inclusion, Islamic finance played an important role in bringing those who exclude themselves from the conventional system on religious grounds. Demographically, Muslim households make up the majority in our country, including that of the B40 income category. There is a natural affinity to subscribe to Islamic finance. Nevertheless, outreach beyond the urban areas always requires additional effort.