Monetary Operations and Government Debt Management Under Islamic Banking

International Monetary Fund

No 1998/144, IMF Working Papers from International Monetary Fund

Abstract: 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.

Keywords: WP; central bank; proceeds; investor; market; certificate; Islamic Banking; monetary management; excess reserves; due diligence; design issue; market segmentation; bank liquidity; Commercial banks; Central bank operations; Civil service; Central bank credit (search for similar items in EconPapers)
Pages: 30
Date: 1998-09-01
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Citations: View citations in EconPapers (9)

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