إدارة السيولة في المؤسسات المالية الإسلامية : دراسة فقهية اقتصادية

Abstract EN

This study defines liquidity, the concept of its management and the constituent elements of such management.

It also examines the extent to which management is needed in both the supply and the demand side, as well as the monetary instruments available to Islamic finance to manage liquidity.

Further, it compares the risks and returns associated with instruments of liquidity management, and it explains the parameters governing the trade of ÎukËk in their role as a means of liquidity management.

The study explains that a balanced policy of liquidity management is based on two factors: a balanced protective policy; and a practical policy for liquidity management that employs legal financial instruments, both monetary and non-monetary, for liquidity management.

It also presents alternatives from fiqh books and ways to deal with a liquidity crisis, should it occur.

The research closes with an explanation of the role of central banks in liquidity management and the extent to which Islamic banks need an Islamic central bank to management their liquidity.