## Monetary Operations and Government Debt Management Under Islamic Banking

_IMF Working Papers, September 1, 1998_

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## Bibliographic details
- Published: September 1, 1998
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451856415.001

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### Summary
- Outlines recent progress in developing Islamic financial instruments for:
  - Management of monetary policy.
  - Public borrowing requirements.
- Provides details on new instruments currently being developed in the Islamic Republic of Iran and Sudan.
- Discusses institutional arrangements for interbank market operations and the design of effective central bank credit facilities needed under Islamic banking to support development and operation of these instruments.

### Major findings and themes
- Development of Islamic financial instruments can support both monetary operations and government debt management in Islamic banking environments.
- New instruments are under development in the Islamic Republic of Iran and Sudan (details provided in the paper).
- Effective operation of these instruments requires appropriate institutional arrangements for interbank markets.
- Central bank credit facilities must be designed compatibly with Islamic banking principles to support liquidity management and market functioning.

### Institutional arrangements and market design issues
- Interbank market operations: design and institutional arrangements are necessary to facilitate liquidity management under Islamic banking.
- Central bank credit facilities: need design that aligns with Islamic banking principles while enabling central banks to perform monetary policy and provide lender-of-last-resort functions.

### Publication and document details
- Publication title: Monetary Operations and Government Debt Management Under Islamic Banking
- Publication date: September 1, 1998
- Series: Working Paper No. 1998/144
- Issue: 144
- Volume: 1998
- Pages: 30
- DOI: https://doi.org/10.5089/9781451856415.001
- Stock No: WPIEA1441998
- ISBN: 9781451856415
- ISSN: 1018-5941

*International Monetary Fund, "Monetary Operations and Government Debt Management Under Islamic Banking", IMF Working Papers 1998, 144 (1998).*

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_Source: https://www.imf.org/en/publications/wp/issues/2016/12/30/monetary-operations-and-government-debt-management-under-islamic-banking-2761_