As the dust settles after the financial crisis it has become increasingly clear that there will be no return to business as usual for the financial industry.
That was the message from Central Bank of Bahrain Governor Rasheed Al Maraj to delegates at the opening of the seventh Annual Islamic Finance Services Board (IFSB) meeting at the Ritz-Carlton Bahrain Hotel and Spa yesterday.
"In the advanced economies, there is a determination to make sure that there is no risk of a repeat of the crisis and in practice this means financial institutions will be smaller and less profitable than in the past," he said.
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