Islam proposes the replacement of an interest-based financial system with one which operates on the basis of risk and … Islamic banking for growth and stabilization of the economy. It analyzes the long-run effects of Islamic banking on … effectively for stabilization purposes and that disturbances to asset positions are absorbed efficiently in an Islamic financial …

This paper discusses the need for ensuring financial stability in countries with Islamic Banking (IB). IB continues to …

monetary management) in an Islamic economy where conventional transactions based on an ex-ante promise of a risk-free rate of … rate of return. In principle, this approach has been accepted by the Islamic Republic of Iran …

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 … design of effective central bank credit facilities that are needed under Islamic banking to support the development and …

This paper provides a proposal to incorporate the Core Principles for Islamic Finance Regulation (Banking Sector …) (CPIFR) issued by the Islamic Financial Services Board (IFSB), as part of the standards used in assessing the banking … Effective Banking Supervision (BCP), with five additional principles that are specific to Islamic banking operations. Thus, for …

In an Islamic system, as interest is prohibited, banks are expected to operate solely on the basis of profit and risk … sharing. This paper describes the developments in Islamic banking in Iran and Pakistan. As these two countries have initiated … the most far-reaching experiments with Islamic banking, their experiences have a significant bearing on the feasibility of …