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Aledjandro Lopez Mejia, Suliman Aljabrin, Rachid Awad, Mr. Mohamed Norat, and Mr. In W Song

guaranteed by the bank and a zero percent reserve on investment accounts. In practice, IB balance sheets differ from these two models ( El-Hawary, Grais and Iqbal, 2004 ). First, on the asset side, there is a clear preference for asset-backed securities (based on trade and commodity finance) and leasing as it is considered to have lower risks and less uncertain returns than mudharabah and musharakah (though this adds to banks’ exposure to credit and operational risks). Second, there are no barriers in the deployment of assets between those funded by demand deposits

Aledjandro Lopez Mejia, Suliman Aljabrin, Rachid Awad, Mr. Mohamed Norat, and Mr. In W Song
This paper aims at developing a better understanding of Islamic banking (IB) and providing policy recommendations to enhance the supervision of Islamic banks (IBs). It points out and discusses similarities and differences of IBs with conventional banks (CBs) and reviews whether the IBs are more stable than CBs. Given the risks faced by IBs, the paper concludes that they need a legal, corporate and regulatory framework as much as CB does. The paper also argues that it is important to ensure operational independence of the supervisory agency, which has to be supported by adequate resources, a sound legal framework, a well designed governance structure, and robust accountability practices.
Aledjandro Lopez Mejia, Suliman Aljabrin, Rachid Awad, Mr. Mohamed Norat, and Mr. In W Song
International Monetary Fund. Research Dept.
This paper discusses that the need for financing accounts and for integrated income and financing accounts is to be found in the fact that the income accounts are deficient in two respects as a source of data on the variables in the Keynesian analysis. Investment as measured in the income accounts is not a wholly satisfactory measure of the investment variable of income analysis; and the income accounts omit entirely data on money and other financial assets, which are variables that play roles in the income analysis as necessary as those of saving and investment. The need for financing accounts is the need to measure the strategic variable, money, and to provide data on other financial assets in a form in which the causes and effects of changes in the economy’s preferences for money and other types of financial asset can be analyzed.