Series: IMF Working Papers
Author(s): International Monetary Fund
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 April 1998
Keywords: Islamic banking, Treasury bills, indirect monetary instruments, rate of return, stock market, risk premium, investors, rates of return
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...