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Absence Of Interbank Loan Market And Banking Short-Term Liquidity Management Mechanisms: The Most Pressing Problems Of The Islamic Finance Model

Author

Listed:
  • Magomet Yandiev

    (Department of Economics, Lomonosov Moscow State University)

Abstract

The Islamic finance model is sufficiently well specified at the “bank-to-client” level, but does not regulate the “central bank-to-bank” and “bank-to-bank” relationships. This paper proposes a concrete Shariah-compatible mechanism for setting up an Islamic interbank loan1 market and managing Islamic bank liquidity, which allows a segregation of Islamic and non-Islamic finance. Islamic banks should as a minimum delink from LIBOR and other traditional reference rates and come up with their own financial benchmarks.

Suggested Citation

  • Magomet Yandiev, 2015. "Absence Of Interbank Loan Market And Banking Short-Term Liquidity Management Mechanisms: The Most Pressing Problems Of The Islamic Finance Model," Working Papers 0015, Moscow State University, Faculty of Economics.
    • Handle: RePEc:upa:wpaper:0015
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    File URL: https://www.econ.msu.ru/sys/raw.php?o=24153&p=attachment
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    Cited by:

    1. Robin G. Milne, 2016. "Using administrative innovation to address missed consultant outpatient appointments," Contemporary Social Science, Taylor & Francis Journals, vol. 11(1), pages 64-78, January.

    More about this item

    Keywords

    Islamic banks; central bank; liquidity; interbank lending market; money market;
    All these keywords.

    JEL classification:

    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • G1 - Financial Economics - - General Financial Markets
    • F3 - International Economics - - International Finance

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