With kuna banknotes bearing my signature and the stability of the kuna having been the focus of most of my professional career, I probably have the most reason to regret its passing into history. However, we have introduced the euro for the benefit of Croatia and I have never had any doubt about this being the right way. Not only did Croatia become the twentieth member of the euro area with the  1/2  BIS - Central bankers' speeches  introduction of the euro, but it also entered into partnership with the countries using the second major currency in the world. Looking forward, the introduction of the euro has opened a new chapter of our monetary history for us at the central bank. On 1 January 2023, the Croatian National Bank became part of the Eurosystem and thus an active participant in defining a common monetary policy. Furthermore, our voice in the ECB's Governing Council has a greater weight relative to the size of our country, and for the first time in history we are in a position to influence the financing conditions in the euro area and, consequently, in Croatia. Those opposing the euro might claim that Croatia loses its monetary independence by joining the monetary union, but the truth is in fact the opposite: Croatia has gained more power.
Islamic finance has proven beyond reasonable doubts its viability and the value proposition that it brings. Many of its tenets contribute to economic and financial stability; for example, restrictions on overleveraging; linkage of transactional activities to the real economy and a requirement for strong governance and transparency. In Malaysia, Islamic finance has gained acceptance amongst all, irrespective of race or religion. Non-Muslims make up more than 50 percent of the customer base of Islamic banks. Similarly the sukuk market that totalled USD160 billion as at December 2013 are characterised by the involvement of diverse set of players and of all creed. The players include multinational corporations and institutions such as the World Bank, Toyota, Nomura Holding Japan, AEON Credit and Shell to name a few. Islamic finance is competitive and able to fulfil the needs of the modern globalised economy. It competes on an equal basis with conventional finance. It is in the mainstream and no more a novelty. It can stand on its own. From my experience, the reason why nonMuslims use Islamic finance is that it makes business sense and it is as competitive and provides a welcome alternative to conventional banking. The availability of established global best practices and standards. There are established global best practices and international standards in Islamic finance. New and emerging jurisdictions need not go to the trial and error period of the more established centres. New entrants can avoid costly mistakes. Global best practices, standards can be adopted and adapted to local circumstances.