01960cas a2200241 a 4500 AALejournalIMF016716 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475523942 1018-5941 BD-DhAAL BD-DhAAL El Hamiani Khatat, Mariam. Monetary Policy in the Presence of Islamic Banking / Mariam El Hamiani Khatat. Washington, D.C. : International Monetary Fund, 2016. 1 online resource (41 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper discusses key issues related to the conduct of monetary policy in countries that have Islamic banks. It describes the macrofinancial background and monetary policy frameworks where Islamic banks typically operate, and discusses the monetary transmission mechanism in economies where Islamic and conventional banking coexist. Most economies with Islamic banks also have conventional banks and this calls for a comprehensive approach to monetary policy. At the same time, a dual approach to monetary policy should be considered whenever the Islamic segment of the financial system is not as developed as the conventional one. The paper tries to shed light on potential spillovers between conventional and Islamic financial systems, and proposes specific recommendations on the design of Islamic monetary policy operations and for facilitating monetary transmission through the Islamic financial system. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2016/072 Full text available on IMF http://elibrary.imf.org/view/journals/001/2016/072/001.2016.issue-072-en.xml IMF e-Library