Title The design of instruments for government finance in an Islamic economy / prepared by Nadeem Ul Haque and Abbas Mirakhor

Published [Washington, D.C.] : International Monetary Fund, Research Department, 1998 ©1998

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Description 1 online resource (18 pages) Series IMF working paper ; WP/98/54 IMF working paper ; WP/98/54. Summary This paper presents perhaps the most viable approach for the design of an instrument of government finance (and monetary management) in an Islamic economy where conventional transactions based on an ex-ante promise of a risk-free rate of return are forbidden. Resources to finance government infrastructural and development projects can be mobilized by issuing a national participation paper and this instrument can also serve as an instrument of monetary management. The paper discusses various conceptional issues underpinning the introduction of such an instrument and methods of calculating a corresponding rate of return. In principle, this approach has been accepted by the Islamic Republic of Iran Notes "March 1998." Bibliography Includes bibliographical references (page 18) Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL English Print version record digitized 2014 HathiTrust Digital Library committed to preserve pda MiAaHDL Subject Banks and banking -- Religious aspects -- Islam. Banks and banking -- Islamic countries. Financial instruments -- Islamic countries Rate of return -- Islamic countries Interest rates -- Islamic countries Banks and banking Banks and banking -- Religious aspects -- Islam Financial instruments Interest rates Rate of return Islamic countries Form Electronic book Author Mirakhor, Abbas, author. International Monetary Fund. Research Department, issuing body. ISBN 1281231452 9781281231451 9781451894356 145189435X 1462338925 9781462338924 1452711933 9781452711935 9786613777836 6613777838

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