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From the Conventional Monetary Policy to the Modern Policy of the Bank of Algeria, Trending Towards the Strategy of Islamic Finance.

  • Academic Journal
  • BENACHENHOU, Farida1 benachenhouf@gmail.com
  • Al Bashaer Economic Journal. 2022, Vol. 8 Issue 1, p771-788. 18p.
  • Article
  • This research paper aims to clarify the nature of monetary policy through a study of its concept, objectives, and tools, and then the most important criticisms leveled at it, especially after the global financial crisis that the world witnessed in 2008 and its inability to solve it, which led the central banks of some countries to adopt new procedures and tools that were not an option, but were rather imposed due to the circumstances of the crisis known as the modern monetary policy. These measures have contributed to supporting economic activity and financial stability at the local and international levels, necessitating the amendment of the Monetary and Loan Law in 2016 to confront the crisis of the decline in oil prices that the Algerian economy experienced in 2014, such as resorting to new types of financing that work to advance the wheel of economic development in a way that allows the creation of Wealth away from oil revenues and far from foreign borrowing, in addition to a new strategic option, which is the trend towards Islamic finance by opening Islamic windows in conventional banks as a strategic financing option that expectedly contributes to providing more efficient and economically efficacious financing alternatives and promoting economic development. [ABSTRACT FROM AUTHOR]
Additional Information
central bank
conventional monetary policy
crises
Islamic finance
Islamic windows
monetary and loan law
unconventional monetary policy
521110 Monetary Authorities-Central Bank
Copyright of Al Bashaer Economic Journal is the property of Al Bashaer Economic Journal and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
1MIFMA Laboratory, Abou Bakr Belkaid University of Tlemcen, Algeria
2437-0932
158071071

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