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Book Review: Central Banking in an Interest Free Banking System, by: Hamid Zangeneh and Ahmad Salam, Comments: Rodney Wilson مراجعة علمية لكتاب: الأعمال المصرفية المركزية في نظام الخدمات المصرفية بدون فوائد ، تأليف: حامد زنقانة واحمد سلام، تعليقات: رودني ويلسون

Author

Listed:
  • Rodney Wilson

    (Professor of Economics Department of Economics University of Durham, U.K.)

Abstract

The article by Hamid Zangeneh and Ahmad Salam is a welcome departure in the Islamic finance literature, as relatively little has been written about the role of central banks in an Islamic financial system. The authors review the major functions of central banks, and then discuss how monetary tools need to be adapted in an Islamic economy, these including discount rates, open market operations, reserve ratios, refinancing ratios, credit controls, moral persuasion, profit sharing ratios and exchange rates.

Suggested Citation

  • Rodney Wilson, 1997. "Book Review: Central Banking in an Interest Free Banking System, by: Hamid Zangeneh and Ahmad Salam, Comments: Rodney Wilson مراجعة علمية لكتاب: الأعمال المصرفية المركزية في نظام الخدمات المصرفية بدون," Book reviews and book reports published in the Journal of King Abdulaziz University: Islamic Economics. 413, King Abdulaziz University, Islamic Economics Institute..
    • Handle: RePEc:abd:jkaubr:413
    DOI: 10.4197/islec.9-1.3
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    References listed on IDEAS

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    1. Charles A. E. Goodhart, 1995. "The Central Bank and the Financial System," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262071673, April.
    2. C. A. E. Goodhart, 1995. "The Central Bank and the Financial System," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-37915-2, December.
    3. Fry, Maxwell J., 1982. "Models of financially repressed developing economies," World Development, Elsevier, vol. 10(9), pages 731-750, September.
    4. Eric Schaling, 1995. "Institutions and Monetary Policy," Books, Edward Elgar Publishing, number 547.
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