UK nonmortgage lending to individuals  UK commercial real estate  UK lending to businesses excluding commercial real estate  Sources: Participating banks’ FDSF data submissions, Bank analysis and calculations. (a) Cumulative impairment charge rates = (five-year total impairment charge) / (average gross on balance sheet exposure), where the denominator is a simple average of 2015, 2016, 2017, 2018, 2019 year-end positions. 22  All speeches are available online at www.bankofengland.co.uk/speeches  22  Chart 21. Household unsecured credit (a)(b)(c) availability Net percentage balances (c) 40 20 0  -20 -40 -60 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017  Source: Bank of England 2017 Q2 Credit Conditions Survey (CCS). (a) Net percentage balances are calculated by weighting together the responses of those lenders who answered the question by their market shares. The blue bars show the responses over the previous three months. The red diamonds show the expectations over the next three months. Expectations balances have been moved forward one quarter so that they can be compared with the actual outturns in the following quarter. (b) Question: ‘How has the availability of unsecured credit provided to households changed?’ (c) A positive balance indicates that more unsecured credit is available. 23  All speeches are available online at www.bankofengland.co.uk/speeches  23

Zeti Akhtar Aziz: Globalisation of Islamic finance services – opportunities and challenges Speech by Dr Zeti Akhtar Aziz, Governor of the Central Bank of Malaysia, at the Fifth IFSB Summit: Session 1: Globalisation of Islamic Finance Services – Opportunities and Challenges, Amman, Jordan, 13 May 2008. *  *  *  This decade has seen the financial globalisation of Islamic finance gain significant momentum. While the early development of Islamic finance was domestic centric, its internationalisation is now manifested by increased cross border flows, greater participation in international Islamic financial markets, the increased presence of Islamic financial institutions in new jurisdictions and more recently, the increased number of Islamic financial institutions which have shareholders from multiple jurisdictions. This trend has strengthened the international economic and financial interlinkages between nations bringing with it mutually reinforcing gains. Financial globalisation has essentially been facilitated by the more rapid pace of liberalisation, the advancement in the information and communications technology, and the significant progress achieved in the development of the international financial infrastructure. This trend has also been reinforced by the search for higher returns and the need to diversify risks. In the current international financial environment of increased uncertainties, this trend has become even more pronounced prompting investors to venture into new asset classes and markets that provide stability. The globalisation of Islamic financial services With the increased significance of the international dimension of Islamic finance, the financial landscape has been dramatically transformed with more diverse players and a more competitive environment.