IMF paper explores spillovers from conventional and Islamic finance
Research considers how monetary policy should adapt to different stages of development
Both the level of development of the Islamic financial sector and its interaction with the conventional sector are important considerations for monetary policy, a working paper published by the International Monetary Fund argues.
When Islamic finance is "at an early stage", Mariam El Hamiani Khatat says, in Monetary policy in the presence of Islamic banking, then "special attention" should be given to the development of Islamic credit, money and government sukuk markets.
When Islamic finance is
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