ISLAMIC BANKING AND MONEY DEMAND FUNCTION IN MALAYSIA An Econometric Analysis
نویسندگان
چکیده
The Central Bank of Malaysia is facing unique challenges in transmitting its monetary policies due to Islamic banking, which strictly prohibits the interest payments. This article develops new methodology to calculate the demand for money function in the presence of Islamic banking. It indicates some weaknesses in the existing mechanism and raises thought that would be helpful in revising the monetary related policies in Malaysia.
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