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Central Banking and Monetary Policy in Muslim-Majority Countries

2015-08-28 Business & Economics
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Release : 2015-08-28
Genre : Business & Economics
Kind : eBook
Book Rating : 839/5 ( reviews)

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Book Synopsis Central Banking and Monetary Policy in Muslim-Majority Countries by : Akhand Akhtar Hossain

Download or read book Central Banking and Monetary Policy in Muslim-Majority Countries written by Akhand Akhtar Hossain. This book was released on 2015-08-28. Available in PDF, EPUB and Kindle. Book excerpt: 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

Islamic Monetary Economics

2020-12-10 Business & Economics
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Release : 2020-12-10
Genre : Business & Economics
Kind : eBook
Book Rating : 974/5 ( reviews)

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Book Synopsis Islamic Monetary Economics by : Taha Eğri

Download or read book Islamic Monetary Economics written by Taha Eğri. This book was released on 2020-12-10. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Central Banking and Monetary Management in Islamic Financial Environment

2017
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Release : 2017
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Book Synopsis Central Banking and Monetary Management in Islamic Financial Environment by : Muhammad Nadeem Hanif

Download or read book Central Banking and Monetary Management in Islamic Financial Environment written by Muhammad Nadeem Hanif. This book was released on 2017. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Monetary Policy in the Presence of Islamic Banking

2016-03-18 Business & Economics
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Release : 2016-03-18
Genre : Business & Economics
Kind : eBook
Book Rating : 947/5 ( reviews)

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Book Synopsis Monetary Policy in the Presence of Islamic Banking by : Mariam El Hamiani Khatat

Download or read book Monetary Policy in the Presence of Islamic Banking written by Mariam El Hamiani Khatat. This book was released on 2016-03-18. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Monetary Policy and Central Banking in the Middle East and North Africa

2009-01-13 Business & Economics
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Release : 2009-01-13
Genre : Business & Economics
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Book Rating : 774/5 ( reviews)

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Book Synopsis Monetary Policy and Central Banking in the Middle East and North Africa by : David Cobham

Download or read book Monetary Policy and Central Banking in the Middle East and North Africa written by David Cobham. This book was released on 2009-01-13. Available in PDF, EPUB and Kindle. Book excerpt: 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.

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