Continuation
Finally,
the paper considers the conduct of monetary policy in an Islamic banking
context.
This
is not uncomplicated given the fact that interest rates – normally a
cornerstone of monetary policy – are prohibited under Islamic finance.
Liquidity
management issues are thus discussed here, with particular reference to the
euro area.
The
Keywords in the paper are:
Islamic finance
central bank monetary policy and regulations
globalization
financial institutions
financing policy
corporate governance and culture
social responsibility
From the research
paper of European Central Bank
(Authors:
F.Mauro, P.Caristi, S.Couderc, A.D.Maria,
L.Ho, B.K.Grewal, S.Masciantonio, S. Ongena and S.Zaher)
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