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The effects of monetary policy on the Islamic financial services industry

Author

Listed:
  • Burak Yungucu
  • Buerhan Saiti

Abstract

Purpose - The purpose of this paper is to investigate the effects of monetary policy on the Islamic financial service industry by studying the findings of the existed literature. Design/methodology/approach - Because of the unavailability of the empirical models in the existing study, the authors used past studies review and proposed a new theoretical model. Findings - Majority of these studies have documented the negative effects with the exception of a few. The transmission of the monetary policy has been taken place through interest rate risk, asset-liability mismatch, as well as deposit and financing instability. Furthermore, the examined studies have confirmed the viability of the Islamic monetary policy. Originality/value - The proposed model may offer some insights to policy makers if it is examined empirically.

Suggested Citation

  • Burak Yungucu & Buerhan Saiti, 2016. "The effects of monetary policy on the Islamic financial services industry," Qualitative Research in Financial Markets, Emerald Group Publishing Limited, vol. 8(3), pages 218-228, August.
    • Handle: RePEc:eme:qrfmpp:v:8:y:2016:i:3:p:218-228
    DOI: 10.1108/QRFM-02-2016-0006
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    Citations

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    Cited by:

    1. Hamza, Hichem & Saadaoui, Zied, 2018. "Monetary transmission through the debt financing channel of Islamic banks: Does PSIA play a role?," Research in International Business and Finance, Elsevier, vol. 45(C), pages 557-570.
    2. El Alaoui, Abdelkader O. & Jusoh, Hashim Bin & Yussof, Sheila Ainon & Hanifa, Mohamed Hisham, 2019. "Evaluation of monetary policy: Evidence of the role of money from Malaysia," The Quarterly Review of Economics and Finance, Elsevier, vol. 74(C), pages 119-128.
    3. Hafidh, Aula Ahmad, 2021. "Responses of Islamic banking variables to monetary policy shocks in Indonesia," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 28, pages 174-190.

    More about this item

    Keywords

    Monetary policy; Islamic finance; Islamic financial service industry; E52; Z1;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • Z1 - Other Special Topics - - Cultural Economics

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