Kuala Lumpur, August 17, 2009 – A one-day thematic workshop on an Islamic alternative to monetary policy, was conducted by ISRA in Kuala Lumpur at Nikko Hotel. The workshop was conducted in an open dialogue and discussant style where participants were given ample opportunities to question the speakers.

There were two speakers for the morning session and both from the Central Bank of Malaysia. The first speaker Fraziali Ismail, Acting Director from the Department of Monetary Assessment and Strategy, spoke on the ‘overview of monetary policy and transmission mechanism’. The second speaker Norzila Abdul Aziz, from the Department of Investment Operations and Financial Market, presented on the ‘monetary policy implementation in a dual system’. Associate Professor Dr. Asyraf Wajdi from ISRA chaired both sessions. The afternoon speaker was from the National University of Malaysia, Professor Abdul Ghafar Ismail, who spoke on the ‘transmission of monetary policy’. This session was chaired by Senior Researcher Associate Professor Dr. Said Bouheraoua from ISRA.