fiscal and monetary policies in Islamic economics : contours of an institutional framework
Author
Source
Issue
Vol. 21, Issue 2 (31 Dec. 2013), pp.1-22, 22 p.
Publisher
Islamic Development Bank (IDB) Islamic Research and Training Institute (IRTI)
Publication Date
2013-12-31
Country of Publication
Saudi Arabia
No. of Pages
22
Main Subjects
Topics
- Islamic jurisprudence
- Monetary policy
- Islam
- Economic policy
- Financial policy
- Economic aspects
- Corporate governance
Abstract EN
This paper summarizes salient features of the existing thinking on fiscal and monetary policies in the Islamic economics literature.
It outlines institutional framework for these policies from the Islamic economics perspective.
The nature and role of government, in the light of the Shariah principles, are revisited.
The general goals for macroeconomic policies are discussed along with separate goals for each of the two policies.
The argument is capped with a look at practical considerations in the actual working of both the policies.
The following are the main points in the paper.
(1) Roles of both the policies shall be complementary in the context of the overall objectives at the state level.
(2) Thrust of both policies would be different from that presently recognized.
These conclusions are drawn in the context of the government’s role being limited to prudent governance and the society’s economic and distributional concerns being addressed as much as possible without adopting the budgetary channel.
American Psychological Association (APA)
Tahir, Sadi. 2013. fiscal and monetary policies in Islamic economics : contours of an institutional framework. Islamic Economic Studies،Vol. 21, no. 2, pp.1-22.
https://search.emarefa.net/detail/BIM-351154
Modern Language Association (MLA)
Tahir, Sadi. fiscal and monetary policies in Islamic economics : contours of an institutional framework. Islamic Economic Studies Vol. 21, no. 2 (Dec. 2013), pp.1-22.
https://search.emarefa.net/detail/BIM-351154
American Medical Association (AMA)
Tahir, Sadi. fiscal and monetary policies in Islamic economics : contours of an institutional framework. Islamic Economic Studies. 2013. Vol. 21, no. 2, pp.1-22.
https://search.emarefa.net/detail/BIM-351154
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references : p. 20-22
Record ID
BIM-351154