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DISCLAIMER: This Staff Discussion Note represents the views of the authors and does not necessarily represent IMF views or IMF policy. The views expressed herein should be attributed to the authors and not to the IMF, its Executive Board, or its management. Staff Discussion Notes are published...
Persistent link: https://www.econbiz.de/10011245885
Housing cycles and their impact on the financial system and the macroeconomy have become the center of attention following the global financial crisis. This paper documents the characteristics of housing cycles in a large set of countries, and examines the determinants of house price movements....
Persistent link: https://www.econbiz.de/10010790415
The financial crisis showed, once again, that neglecting real estate booms can have disastrous consequences. In this paper, we spell out the circumstances under which a more active policy agenda on this front would be justified. Then, we offer tentative insights on the pros and cons as well as...
Persistent link: https://www.econbiz.de/10009019603
What attracts conventional investors to Islamic financial instruments? We answer this question by comparing Malaysian … Islamic and conventional security prices and their response to macrofinancial factors. Our analysis suggests that Islamic and … conventional bond and equity prices are driven by common factors. Likewise, especially in recent years, Islamic banks have …
Persistent link: https://www.econbiz.de/10011142164
As part of Basel III reforms, the NSFR is a new prudential liquidity rule aimed at limiting excess maturity transformation risk in the banking sector and promoting funding stability. The revised package has been issued for public consultation with a plan of making the rule binding in 2018. This...
Persistent link: https://www.econbiz.de/10011142026
could introduce Islamic financing windows within the conventional system and facilitate sukuk issuance to tap foreign …Islamic finance is a fast growing activity in world markets. This paper provides a survey on Islamic Finance in SSA …. Ongoing activities include Islamic banking, sukuk issuances (to finance infrastructure projects), Takaful (insurance), and …
Persistent link: https://www.econbiz.de/10010959474
The SDN discusses the main policy issues and challenges in building an inclusive and safe Islamic finance industry …, with emphasis on Islamic banking and Sukuk markets. To this end, it discuses why Islamic finance matters, taking into …
Persistent link: https://www.econbiz.de/10011245880
The relative financial strength of Islamic banks is assessed empirically based on evidence covering individual Islamic … and commercial banks in 18 banking systems with a substantial presence of Islamic banking. We find that (i) small Islamic … stronger than large Islamic banks; and (iii) small Islamic banks tend to be financially stronger than large Islamic banks …
Persistent link: https://www.econbiz.de/10005263779
This paper assesses the impact of bonds issued according to Islamic principles (Sukuk), on the cost and risk structure … growing Islamic liquidity pool, in addition to the conventional investor base. The paper analyzes whether secondary market …
Persistent link: https://www.econbiz.de/10005264017
Derivatives are few and far between in countries where the compatibility of financial transactions with Islamic law … requires the development of shari'ah-compliant structures. Islamic finance is governed by the shari'ah, which bans speculation … underpinning Islamic finance with a view towards developing a cohesive theory of derivatives subject to shari'ahprinciples. After …
Persistent link: https://www.econbiz.de/10009654161