Monetary Operations and Government Debt Management Under Islamic Banking

Sundararajan, V.; Marston, David; Shabsigh, Ghiath

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Monetary Operations and Government Debt Management Under Islamic Banking

IMF Working Paper No. 98/144

30 Pages Posted: 15 Feb 2006

See all articles by V. Sundararajan

Ghiath Shabsigh

International Monetary Fund (IMF) - Middle East and Central Asia Department

Date Written: September 1998

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: Islamic Banking

JEL Classification: E43, E44, E52

Suggested Citation: Suggested Citation

Sundararajan, V. and Marston, David and Shabsigh, Ghiath, Monetary Operations and Government Debt Management Under Islamic Banking (September 1998). IMF Working Paper No. 98/144, Available at SSRN: https://ssrn.com/abstract=882713