Central Banking And Monetary Policy In Muslim Majority Countries PDF Download
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Author | : Akhand Akhtar Hossain |
Publisher | : Edward Elgar Publishing |
Total Pages | : 392 |
Release | : 2015-08-28 |
Genre | : Business & Economics |
ISBN | : 0857937839 |
Download Central Banking and Monetary Policy in Muslim-Majority Countries Book in PDF, ePub and Kindle
The introduction of Islamic banking and finance across the globe strengthens the argument for low and stable inflation and rule-based monetary policy for sustained economic growth. Although Islamic banking and finance may have created some complexities
Author | : Taha Eğri |
Publisher | : Routledge |
Total Pages | : 257 |
Release | : 2020-12-10 |
Genre | : Business & Economics |
ISBN | : 1000289974 |
Download Islamic Monetary Economics Book in PDF, ePub and Kindle
The existence of fiat currencies has long been cited as one of the major contributing factors to the challenges facing contemporary economies, and the current monetary system is not only a key source of exorable increases in interest rates but also a principal cause of inflation and decline in the value of money in many countries. The editors argue that an Islamic monetary system, with its specific money concepts, interest-free financial institutions, and monetary policy embedded in real growth, provides a solution to this conundrum. Contributions from many world-renowned experts consider a wide array of topics, ranging from the theoretical concepts of money and banking in conventional and Islamic economics to the historical journey of money from precious metals to plastic money and digital currency today. The book outlines the problems that sprout from interest-based banking and multiple debt structures. It then mirrors the Islamic concepts of money as well as idiosyncrasies of its monetary policy. Supported with meticulous research and empirical evidence, the book demonstrates the efficacy of Islamic monetary system in delivering real growth along with equitable distribution of wealth and prosperity in the economy. It additionally acquaints the readers with juristic debates about money and monetary policy. This is essential reading for both students and researchers in Islamic economics, banking, and finance, expertly promoting a fair and just economic system that emerges as a result of interest-free banking and monetary policy based on Islamic principles.
Author | : Muhammad Nadeem Hanif |
Publisher | : |
Total Pages | : 12 |
Release | : 2017 |
Genre | : |
ISBN | : |
Download Central Banking and Monetary Management in Islamic Financial Environment Book in PDF, ePub and Kindle
Continuous growth in Islamic finance calls for an in-depth study of the framework in which the monetary policy maker (i.e., the central bank) performs its functions. Central banks in Muslim countries are using various instruments for monetary policy purpose including interest rate. As a result, Islamic Financial Institutions (IFIs) are facing issues in benchmarking the price of financial instruments. Acceptable solution to benchmarking lies in the presence of a real economic activity in the base of any proposal and its feasibility for business performance when put against conventional banking. This paper presents empirical evidence of statistical equivalence of nominal GDP growth rate and official interest rate for 'advanced,' 'all,' and some Muslim countries. We propose nominal GDP growth rate as benchmark for pricing domestic financial transactions of IFIs as well as for pricing external bilateral/multilateral loans. The paper also suggests nominal income targeting as monetary policy regime and provides a liquidity management mechanism for banking system in Islamic financial environment.
Author | : Mariam El Hamiani Khatat |
Publisher | : International Monetary Fund |
Total Pages | : 41 |
Release | : 2016-03-18 |
Genre | : Business & Economics |
ISBN | : 1475523947 |
Download Monetary Policy in the Presence of Islamic Banking Book in PDF, ePub and Kindle
This paper discusses key issues related to the conduct of monetary policy in countries that have Islamic banks. It describes the macrofinancial background and monetary policy frameworks where Islamic banks typically operate, and discusses the monetary transmission mechanism in economies where Islamic and conventional banking coexist. Most economies with Islamic banks also have conventional banks and this calls for a comprehensive approach to monetary policy. At the same time, a dual approach to monetary policy should be considered whenever the Islamic segment of the financial system is not as developed as the conventional one. The paper tries to shed light on potential spillovers between conventional and Islamic financial systems, and proposes specific recommendations on the design of Islamic monetary policy operations and for facilitating monetary transmission through the Islamic financial system.
Author | : David Cobham |
Publisher | : Routledge |
Total Pages | : 262 |
Release | : 2009-01-13 |
Genre | : Business & Economics |
ISBN | : 1134023774 |
Download Monetary Policy and Central Banking in the Middle East and North Africa Book in PDF, ePub and Kindle
This book examines monetary policy, central banking and exchange rate regimes in the Middle East and North Africa. Part I covers central banking and monetary policy, while Part II covers monetary policy and exchange rate regimes. Some chapters focus on the monetary frameworks of particular countries, including Lebanon, Algeria, Syria, Tunisia, Morocco, and Turkey, outlining the different systems operated in each case, considering their successes and failures, and discussing important issues such as government policy, macroeconomic performance, inflation and inflation targeting, central bank independence and the impact of broader political economic developments on the conduct of monetary policy. Other chapters cover thematic issues across the whole region, including: central bank independence, operations of debtor central banks, the effect of exchange rates on inflation, and the effect on countries’ trade of alternative exchange rate regimes. Drawing on the insights of scholars and policy-makers, this book is a vital resource for anyone wanting to understand the economies of the Middle East and North Africa.
Author | : Ms.Ritu Basu |
Publisher | : International Monetary Fund |
Total Pages | : 27 |
Release | : 2015-11-09 |
Genre | : Business & Economics |
ISBN | : 1513588516 |
Download Monetary Operations and Islamic Banking in the GCC Book in PDF, ePub and Kindle
The assessment provides evidence of market segmentation across Islamic and conventional banks in the Gulf Cooperation Council (GCC), leading to excess liquidity, and an uneven playing field for Islamic banks that might affect their growth. Liquidiy management has been a long-standing concern in the global Islamic finance industry as there is a general lack of Shari’ah compliant instruments than can serve as high-quality short-term liquid assets. The degree of segmentation and bank behavior varies across countries depending on Shari’ah permissibility and the availability of Shari’ah-compliant instruments. A partial response would be to support efforts to build Islamic liquid interbank and money markets, which are crucial for monetary policy transmission through the Islamic financial system.This can be achieved, to a large extent, by deepening Islamic government securities and developing Shari’ah-compliant money market instruments.
Author | : Muhammad Umer Chapra |
Publisher | : |
Total Pages | : 308 |
Release | : 1985 |
Genre | : Banks and banking |
ISBN | : |
Download Towards a Just Monetary System Book in PDF, ePub and Kindle
Author | : Islamic Foundation (Great Britain) |
Publisher | : Foundation |
Total Pages | : 40 |
Release | : 1977 |
Genre | : Business & Economics |
ISBN | : |
Download Monetary and Fiscal Economics of Islam Book in PDF, ePub and Kindle
Author | : Akhand Akhtar Hossain |
Publisher | : Edward Elgar Publishing |
Total Pages | : 654 |
Release | : 2015-08-28 |
Genre | : Business & Economics |
ISBN | : 0857937812 |
Download The Evolution of Central Banking and Monetary Policy in the Asia-Pacific Book in PDF, ePub and Kindle
This book of case studies is a significant contribution to monetary macroeconomics in which country-specific experience and issues in inflation and monetary policy are reviewed and analysed in an historical context. In doing so, the key ideas and views
Author | : Mr.Mumtaz Hussain |
Publisher | : International Monetary Fund |
Total Pages | : 35 |
Release | : 2015-06-02 |
Genre | : Business & Economics |
ISBN | : 1513565621 |
Download An Overview of Islamic Finance Book in PDF, ePub and Kindle
Islamic finance has started to grow in international finance across the globe, with some concentration in few countries. Nearly 20 percent annual growth of Islamic finance in recent years seems to point to its resilience and broad appeal, partly owing to principles that govern Islamic financial activities, including equity, participation, and ownership. In theory, Islamic finance is resilient to shocks because of its emphasis on risk sharing, limits on excessive risk taking, and strong link to real activities. Empirical evidence on the stability of Islamic banks, however, is so far mixed. While these banks face similar risks as conventional banks do, they are also exposed to idiosyncratic risks, necessitating a tailoring of current risk management practices. The macroeconomic policy implications of the rapid expansion of Islamic finance are far reaching and need careful considerations.