Az iszlám bankrendszer és monetáris politika

Abstract

Islamic Banking System and Monetary Policy The goal of the study is to present the banking system and the monetary policy of the Islamic world. Since there is no substantial literature in Hungarian, this work is built mainly on sources issued in English. Umer Chapra Saudi Arabic economist’s publications and the comprehensive work of Risk Analysis for Islamic Banks edited by Hennie Van Greuning and Zamir Iqbal were great help in my research. For certain aspects I have found some Hungarian publications as well which I could use. I draw up the evolution and operation of the relatively young Islamic banks, since without understanding their structure it is impossible to analyse monetary policy. This will be followed by the actual description of the operation of the Islamic monetary policy, which has several aspects that differ from the conventional one. I compare its tools with the conven-tional instruments proving that in spite of the fundamental differences, there are many similarities as well between the two systems.