مستقبل التوريق على ضوء الإصلاحات التنظيمية و الضبط

Abstract EN

Securitization is one of the most important techniques of the financial engineering, and was created and developed through financial and organizational transformations, which the international financial system has experienced since 1970.

Some specialists consider securitization as the main cause of serious financial crisis witch had an impact on the global financial system starting in 2007.

This research tries to detect whether the securitization was the main reason behind the crisis and therefore should be abandoned, or was just one of many causes, and then this financial technique is still useful and essential.

The results of this research show that we cannot make securitisation responsible of the financial crisis, yet the problem is the deviations that occur in the use of this technique due to the lack of regulations and supervisory bodies.

Avoiding the disadvantages of securitization and ensuring its future use depend on the development of the regulation and the creation of supervisory bodies, that are needed to monitoring, and was initiated by the US , the European Union , and other countries and organizations, whitch has made the market of securitization recovering gradually and accomplishing its economic role.