central bankers'speeches conclusion developing career - building programs that meet the needs of local employers and are accessible to job seekers is critical to bridging the skills gap. collaboration is a key component of any successful program. by joining together, we can advance the economic resilience of rural areas like columbia and greene counties - and strengthen our jenga tower. 1 columbia - greene lwda local plan, july 1, 2021 a€ “ june 30, 2025. 2 office of the new york state comptroller, availability, access and affordability : understanding broadband challenges in new york state, september 2021. 3 investing in america's workforce, a federal reserve system initiative in collaboration with the heldrich center for workforce development at rutgers university, the ray marshall center at the university of texas at austin, and the w. e. upjohn institute for employment research ( 2019 ). 4 federal reserve bank of new york, employer engagement by community colleges in new york state, november 2018. 5 andrew dumont, investing in rural prosperity : a framework for advancing economic resilience and opportunity, may 19, 2022. 3 / 3 bis - central bankers'speeches

shamshad akhtar : pakistan islamic banking – past, present and future outlook keynote address by dr shamshad akhtar, governor of the state bank of pakistan, at dawn asia finance conference, karachi, 11 september 2007. * a. * * introduction islamic finance has gripped the world with a strong fervor and passion. interest in this discipline has proliferated to almost 60 countries, going beyond the islamic world to the leading global financial centers. for quite sometime, united kingdom has adopted an open door policy and provided a level playing field to islamic finance and now singapore is following its lead. every day, islamic finance is breaking new boundaries and new frontiers. leading islamic banks have fast spread their network from home base to develop a regional and global reach. some of the middle east banks are now entering into african and central asian markets and are sizing up australian financial market. motivation and renewed interest in islamic finance industry stems from its strong economic, financial and social considerations, backed by its unique features. most significant is its appeal to add to financial diversity and innovation being skewed towards ( i ) asset backed and equity based transactions, which promote entrepreneur friendliness and consideration of project viability ; ( ii ) equitable distribution of risks and rewards among the stakeholders ; and ( iii ) inculcating market discipline and higher ethical standards given its emphasis on nonexploitation and social welfare. in the wake of high asian domestic savings rates and build up of the region ’ s foreign exchange reserves as well as oil surpluses of middle east in the last few years, islamic finance is now also emerging as a way to wealth management, both of richer nations and high net worth individuals. while the world is now recognizing the significance of islamic finance industry, in pakistan, as early as in 1948, mr. muhammad ali jinnah emphasized the virtues of islamic principles and in his address at the inauguration of the state bank of pakistan ( sbp ), said : “ i shall watch with keenness the work of your organization in evolving banking practices compatible with islamic ideas of social and economic life. we must work our destiny in our own way and present to the world an economic system based on true islamic concept of equality of manhood and social justice 1. ” b. historical context of pakistan ’ s islamic finance pakistan has a protracted history of islamic banking with the initial attempt to islamize banking system in 1980s 2, leading to sweeping changes in the banking companies ordinance, 1962 ( bco