As a principle, Parliament supported the Central Bank’s monetary independence. What the banks think of the governor is a different matter. The ninety-page supervision framework that connects fifteen Islamic bank licenses to the International Financial Services Board norm on capital adequacy was released by the central bank the same week the speaker of parliament entered the governor’s office. The operator, who hasn’t altered the rate in a year, continues to run the institutional track. The plumbing keeps getting tighter.
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