Contribution of the Subprime Crisis to Changes in the Investment Regulatory Framework, Laws Etc. - Singapore; and Contribution of the Subprime Crisis to Changes in the Investment Regulatory Framework, Laws Etc. Designed by the Respective Central Bank for the Banks - Singapore

2013 ◽  
Author(s):  
Vaasundhara Bhatia
Keyword(s):  
Central Bank ◽  
Regulatory Framework ◽  
Subprime Crisis

PROSPECTS FOR ISLAMIC MICROFINANCE UNDER THE EXISTING LEGAL AND REGULATORY FRAMEWORK IN LIBERIA

2021 ◽  
Vol 28 (2) ◽  
pp. 597-620
Author(s):  
Ibrahim Fofana
Keyword(s):  
Central Bank ◽  
Financial Institutions ◽  
Analytical Approach ◽  
Legal Framework ◽  
Regulatory Framework ◽  
Financial Regulations ◽  
Legislative Framework ◽  
Islamic Microfinance ◽  
Specific Regulation

There is no specific regulation or legislative framework for Islamic microfinance operations in Liberia. This is largely due to the non-application of Islamic laws in the country, despite the increasing economic strength of Muslims in the country. This article aims to examine whether the existing laws in Liberia permit the establishment and operation of Islamic microfinance. The research employed a qualitative analytical approach, which examines legal and regulatory framework for the microfinance sector in Liberia. The materials and data which include related laws were collected, and analysed inductively to suit the needs of the research. This article argues that, the existing laws including the Liberian constitution and other relevant financial regulations such as, the Central Bank of Liberia Act of 1999, the New Financial Institutions Act of 1999 and the Microfinance Policy and Regulatory & Supervisory Framework for Liberia (MPRSFL) have no objection to the introduction of Islamic microfinance in the country. This research is a first to appraise critically some relevant laws on the legal framework of microfinance in Liberia and its relevance to Islamic microfinance. The Financial Institutions Act of 1999 confers on the Central Bank of Liberia the powers to regulate and supervise all financial institutions in the country, including the microfinance providers. The article concludes that the stakeholders need to continue supporting the microfinance sector, including Islamic microfinance in Liberia by building an appropriate legal ecosystem that providing for a smooth running of microfinance programmes in the country.

Oman’s Islamic Banking Regulatory Framework: The Corporate Governance of Sharīʿa Compliance in a New Jurisdiction

2015 ◽  
Vol 29 (2) ◽  
pp. 101-137
Author(s):  
Scott Morrison
Keyword(s):  
Risk Management ◽  
Corporate Governance ◽  
Central Bank ◽  
Banking Sector ◽  
Regulatory Framework ◽  
Islamic Banking ◽  
Sultanate Of Oman

This article sets out and comments upon those aspects of the Islamic Banking Regulatory Framework (ibrf) that pertain to Sharīʿa compliance and the corporate governance of that compliance in the newly introduced (since 2012) Islamic banking sector in the Sultanate of Oman. The relevant authority, the Central Bank of Oman, has indisputably demonstrated the premium that it attaches to consistent and dependable Sharīʿa risk management and reduction with its development of the ibrf. This article inventories and analyses the array of regulatory techniques contained in the ibrf. It also identifies some areas of potential reform.

Effects of Central Bank Intervention on the Interbank Market During the Subprime Crisis

2010 ◽  
Vol 24 (6) ◽  
pp. 2053-2083 ◽  
Author(s):  
Celso Brunetti ◽  
Mario di Filippo ◽  
Jeffrey H. Harris
Keyword(s):  
Central Bank ◽  
Subprime Crisis ◽  
Interbank Market ◽  
Central Bank Intervention

scholarly journals Regulatory framework for Islamic financial institutions: lesson learnt between Malaysia and Indonesia

2019 ◽  
Vol 2 (2) ◽  
pp. 79
Author(s):  
Fazlurrahman Syarif
Keyword(s):  
Central Bank ◽  
Financial Institutions ◽  
Financial System ◽  
Regulatory Framework ◽  
Dual System ◽  
Islamic Finance ◽  
Qualitative Model ◽  
Sharia Law ◽  
Islamic Financial Institutions ◽  
Laws And Policies

Islamic finance is a rapidly growing stream in the Halal economy. Islamic finance is a method of banking or financing activities that are based on the Sharia law and operated by sharing the risk or divide the profits of any investment as per the agreed terms. This study discusses the forms of a regulatory framework and on the organizations that are constituted for standardizing the regulations. The paper also analyses the regulatory framework for Islamic financial institutions in Malaysia and Indonesia. The type of research used is a descriptive qualitative model. We find that both countries maintain a dual system of the regulatory framework which considers the conventional and Islamic financial system. Hence, the central bank has full authority to enact required laws and policies and to regulate the Islamic financial institutions in Indonesia and Malaysia.  

scholarly journals Gravity Among Central Bank Balance Sheets: Monetary Policy Spill-Over on FX Volatility

2020 ◽  
Vol 5 (1) ◽  
pp. 33-57
Author(s):  
Gábor Dávid Kiss ◽  
Mercédesz Mészáros
Keyword(s):  
Monetary Policy ◽  
Central Bank ◽  
Relative Size ◽  
Reducing Power ◽  
Central Banks ◽  
Gravity Models ◽  
Quantitative Easing ◽  
Subprime Crisis ◽  
European Central ◽  
Bank Balance Sheets

AbstractFollowing the subprime crisis, most of the European central banks implemented several unconventional monetary instruments. As a result of the late quantitative easing, there was a shift from stimulating lending to the immediate stimulation of the securities market in the monetary policy of the European Central Bank (ECB) and of the smaller central banks, too. These securities purchase programs, first and second-market transactions, and asset purchases have led to an increase in the stock of securities held by the central banks, whose spill-over effects have not been fully explored yet. The aim of our research is to identify the spill-over effects of the central banks’ unconventional instruments and quantitative easing on currency volatility while considering the relative size of the issuing central bank and the situation of small open economies. By running an adapted version of gravity models, we analyzed a sample of six European central banks and the ECB. Based on our results, the high volatility levels of European currencies around the eurozone have come from their relative smallness and unconventional monetary policy, and considerations about safe havens have a reducing power on F X volatility.

Towards an effective legal and regulatory framework for Islamic financial transactions

2017 ◽  
Vol 59 (5) ◽  
pp. 652-672 ◽  
Author(s):  
Engku Rabiah Adawiah Engku Ali ◽  
Umar A. Oseni
Keyword(s):  
Central Bank ◽  
Financial Services ◽  
Value Added ◽  
Legal Framework ◽  
Regulatory Framework ◽  
Islamic Finance ◽  
Content Type ◽  
Leading Role ◽  
Legal Method ◽  
Financial Transactions

Purpose In propelling Malaysia to become a high value-added and high-income economy by 2020, the Central Bank of Malaysia has consistently emphasized the need for a new trajectory of transformation and growth which will leverage on a robust legal framework that for enhancing Islamic financial transactions. This paper aims to examine the latest major policy initiatives and legal reforms introduced to promote both local and cross-border transactions that seek to project Malaysia as a hub for Islamic financial transactions. Design/methodology/approach While adopting an analytical approach in analysing the relevant issues, the study relies on doctrinal legal method in highlighting major reforms introduced to enhance the legal and regulatory framework of Islamic finance. Findings The study finds that the importance of law reforms in strengthening the financial system cannot be overemphasized, particularly when it comes to the need for an end-to-end Sharīʿah compliance framework and consumer protection. Practical implications Other emerging jurisdictions aspiring to adopt Islamic finance products can learn from the Malaysia’s pioneering role in introducing an effective legal and regulatory framework. Originality/value Though there are a number of studies on Malaysia’s leading role in the law and regulation of Islamic finance, this study is one of the earliest attempts to explore the role of the Central Bank of Malaysia in enhancing the legal framework for Islamic financial transactions through the introduction of the Islamic Financial Services Act 2013 and other relevant policy regulations.

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