Organic global cryptocurrency:towards a stable international monetary system that is closer to Maqasid Sharıʿah

Abdurrahman Arum Rahman

Islamic Economic Studies, 2020, vol. 28-1, 63-82

Abstract: Purpose – The most prominent and persistent problems of our global monetary system are instability and imbalances. We propose an international monetary model to solve these problems while at the same time move the model closer to Maqasid Sharıʿah (objectives of Sharıʿah). We name this an organic global monetary model or abbreviated as OGM. OGM is an international monetary model directly built on the national monetary system of each member country so that the two can co-exist. Design/methodology/approach – Model design, theory and literature. Findings – The model can eliminate interest rates at the central bank level, create non-tradable international money, and make a more stable international monetary system.Originality/value – Original.

Keywords: Global currency; Zero interest rate; Non-tradable money (search for similar items in EconPapers)
JEL-codes: E40 E50 F40 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://iesjournal.org/english/Docs/Vol_28_1/260.pdf Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ris:isecst:0190

Access Statistics for this article

Islamic Economic Studies is currently edited by Salman Syed Ali and Anis Ben Khedher

More articles in Islamic Economic Studies from The Islamic Research and Training Institute (IRTI) Contact information at EDIRC.
Bibliographic data for series maintained by IRTI Staff () and ().