Monetary Operations and Government Debt Management Under Islamic Banking

September 1, 1998

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper outlines the recent progress in developing Islamic financial instruments for the management of monetary policy and public borrowing requirements and provides details on new instruments currently being developed in the Islamic Republic of Iran and Sudan. The paper also touches on the institutional arrangements for interbank market operations and the design of effective central bank credit facilities that are needed under Islamic banking to support the development and operation of these new instruments.

Subject: Banking, Central bank credit, Central bank operations, Central banks, Civil service, Commercial banks, Financial institutions, Financial services, Islamic banking, Labor

Keywords: bank liquidity, central bank, Central bank credit, Central bank operations, certificate, Civil service, Commercial banks, design issue, due diligence, excess reserves, investor, Islamic Banking, market, market segmentation, monetary management, proceeds, WP

Pages:
30
Volume:
1998
DOI:
https://doi.org/10.5089/9781451856415.001
Issue:
144
Series:
Working Paper No. 1998/144
Stock No:
WPIEA1441998
ISBN:
9781451856415
ISSN:
1018-5941

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