Macroeconomic Policy and Islamic Finance in Malaysia (eBook)

Azura Othman, Norhanim Mat Sari, Syed Othman Alhabshi, Abbas Mirakhor (Autoren)

eBook Download: PDF

2017 | 1st ed. 2017
XXIII, 293 Seiten
Palgrave Macmillan US (Verlag)
978-1-137-53159-9 (ISBN)

Infos

This book offers an alternative framework for macroeconomic policy in Malaysia, derived from the universal principles of social justice espoused in the objectives of the Shariah. It attempts to holistically analyze issues related to public finance, which has been criticized for lack of transparency and justice in wealth distribution. This book explores these criticisms and discusses the principles of Islamic finance that may be applied to macroeconomic policymaking to create a better economy overall. It presents a case for a flat tax system, to make the economy more resilient to shocks, and financing methods that limit interest-rate-based debt contracts and allow greater risk sharing among the market participants on a broad scale. Using both qualitative and quantitative methods, this book models the Malaysian economy based on policies that apply the fundamental Islamic finance principle of risk sharing to demonstrate its benefits in spurring growth, promoting distributive justice, rendering the economy more stable, strengthening the potency of monetary policy, enhancing fiscal governance, and improving financial inclusion. The book will be of interest to students, policymakers, financial institutions, researchers, ministries of finance, central banks, securities commissions, and anyone interested in alternative economic paradigms.

Azura Othman is Chief Executive Officer of the Chartered Institute of Islamic Finance Professionals (CIIF) and an Independent Non-Executive Director of Bank Muamalat Malaysia Berhad.

 

Norhanim Mat Sari is a faculty member at the International Centre for Education in Islamic Finance (INCEIF), where she obtained her PhD in Islamic Finance.

 

Syed Othman Alhabshi is Deputy President Academic of INCEIF. He has written and edited a total of 12 books and numerous journal articles on various topics related to Islam, economics, and banking.

 

Abbas Mirakhor is First Holder of the INCEIF Chair of Islamic Finance. He formerly served as Executive Director and Dean of the Executive Board of the International Monetary Fund (IMF).

Inhalt

1. Introduction2. Risk Transfer, Risk Sharing, and Islamic Finance3. Macroeconomic Policies and Risk Transfer4. Islamic Finance, Risk Sharing, and Macroeconomic Policies5. The History of Islamic Finance in Malaysia6. Fiscal Policy and Islamic Finance: Malaysia7. Monetary Policy and Islamic Finance: Malaysia8. Policy Recommendations9. Concluding Remarks

Produkt-Details

• Erscheint lt. Verlag: 10.10.2017
• Reihe/Serie: Financial Institutions, Reforms, and Policies in Muslim Countries
• Reihe/Serie: Financial Institutions, Reforms, and Policies in Muslim Countries
• Zusatzinfo: XXIII, 293 p. 22 illus.
• Verlagsort: New York
• Sprache: englisch
• Themenwelt: Sozialwissenschaften ► Politik / Verwaltung
• Themenwelt: Sozialwissenschaften ► Soziologie ► Spezielle Soziologien
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Finanzwissenschaft
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Wirtschaftspolitik
• Schlagworte: Economic Policy • Equity participation instrument • Fiscal Policy • Flat Tax • Islamic Finance • Islamic macroeconomic policy • Macroeconomics • monetary policy • Public Policy • Risk sharing
• ISBN-10: 1-137-53159-2 / 1137531592
• ISBN-13: 978-1-137-53159-9 / 9781137531599