Modus operandi of the Islamic money market: a proposal for holistic shariah adaptation

• Main Authors: Olayemi, Abdul Azeez Maruf, Hasan, Aznan, Ibrahim, Uzaimah, Mahamood, Siti Mashitoh, Buang, Ahmad Hidayat
• Format: Article
• Language: English
• Published: University of Sharjah 2016
• Subjects: BPH Islamic Economics
• Online Access: http://irep.iium.edu.my/89345/7/89345_Modus%20operandi%20of%20the%20Islamic%20money%20market%20a%20proposal%20for%20holistic%20shariah%20adaptation.pdf; http://irep.iium.edu.my/89345/; https://www.sharjah.ac.ae/ar/Research/spu/JournalHSS/Documents/SpecialIssue/7.pdf

This paper advocates a holistic Shariah adaptation of the modus operandi (operational model) of the Islamic interbank money market. It presents the reasons for the need for the substitution of the conventional methods of ‘tendering’, ‘auction’ and brokerage procedures in the market with the Shariah...