The higher SNB policy rate should via its impact on borrowing costs and the exchange rate contribute to curbing the development of inflation in Switzerland. From today’s perspective, and assuming that the SNB policy rate remains constant at −0.25%, our new inflation forecast shows the rate of inflation temporarily declining to around 1.5% before rising back to 2% over time. Without  Page 3/5  Berne, 16 June 2022 Thomas Jordan  News conference  today’s SNB policy rate increase, inflation would be clearly above the range consistent with price stability at the end of the forecast horizon. The new inflation forecast shows that further increases in the SNB policy rate may be necessary in the foreseeable future to stabilise inflation in the range consistent with price stability over the medium term. The current environment is subject to great uncertainty, also with regard to exchange rate developments. If there were to be an excessive appreciation of the Swiss franc, we would be prepared to purchase foreign currency. If the Swiss franc were to weaken, however, we would also consider selling foreign currency. We will be observing the developments closely and are prepared to take the necessary measures in every situation to ensure price stability in Switzerland over the medium term. Ladies and gentlemen, thank you for your attention. It is now my pleasure to give the floor to Fritz Zurbrügg. Page 4/5  Berne, 16 June 2022 Thomas Jordan  News conference  Page 5/5

This provides a comprehensive legal environment under which effective risk and profit sharing activities can take place, encompassing all aspects of Islamic financial transactions, from its prudential and business conduct requirements to the legal treatment of Islamic banking assets upon its resolution, to be fully consistent with the distinctive elements of the respective Shariah contracts employed in these transactions. This legal framework will also further enhance the capacity of the regulatory and supervisory framework for the Malaysian Islamic finance industry to evolve in greater alignment with the international regulatory and the supervisory standards and best practices issued by the Islamic Financial Services Board (IFSB) to govern the specificities of Islamic financial transactions. To complement the efforts to strengthen the regulatory law for Islamic finance, Malaysia has also established the Law Harmonisation Committee in 2010 to undertake objective reviews on other relevant laws and recommend legislative changes to ensure that the laws in the country would allow for Islamic financial transactions to take place effectively and efficiently. Another important dimension in fostering the further development of risk and profit sharing instruments is the need to ensure the institutional soundness of the Islamic financial institutions and their enhanced ability to assess risks in the real sector. This underscores the imperative of robust risk management capabilities to manage new risks peculiar to risk and profit sharing contracts and the adoption of strong governance, transparency and disclosure practices within the Islamic financial institutions to meet the due diligence requirements for determining the viability of business and investment proposals.