Gold netting to strengthen financial system stability

Economic and financial crises seem to occur with increased frequency. Indeed now most countries, including several advanced economies like the US, Europe and Japan, are in serious economic recession. Employment and business opportunities have been much dampened. Inflation seems to be soaring globall...

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Main Author:	Mydin Meera, Ahamed Kameel
Format:	Article
Language:	English
Published:	Bank of Indonesia 2017
Subjects:	HG179 Personal finance HG3368 Islamic Banking and Finance
Online Access:	http://irep.iium.edu.my/59490/ http://irep.iium.edu.my/59490/ http://irep.iium.edu.my/59490/1/59490_Gold%20netting.pdf

id	iium-59490
recordtype	eprints
spelling	iium-594902018-04-23T04:56:41Z http://irep.iium.edu.my/59490/ Gold netting to strengthen financial system stability Mydin Meera, Ahamed Kameel HG179 Personal finance HG3368 Islamic Banking and Finance Economic and financial crises seem to occur with increased frequency. Indeed now most countries, including several advanced economies like the US, Europe and Japan, are in serious economic recession. Employment and business opportunities have been much dampened. Inflation seems to be soaring globally and nations are witnessing widening gaps in income and wealth distribution. Many of these advanced economies are also facing shrinking population sizes that translate into aging problems and labor shortages. On top of those, there are environmental issues, including global warming. All these, in turn, have caused regional and global political conflicts and turmoil. The Arab Spring and the sovereign debt problems faced by some European countries like Greece are examples of this. Sustainability of economics and environment is thus of paramount concern of today. This paper considers those problems and suggests Interest-free Gold-based Electronic Netting System (IGENS) as an effective way of injecting liquidity into the economy, practically free, that can spur business and employment while bringing about structural stability, inflation checked with both economic and environmental sustainability. Netting or muqassah is a transaction allowed in shari’ah and is practiced worldwide in different forms. Examples include the highly successful WIR Bank of Switzerland, various Local Exchange Trading Schemes (LETS) and Bilateral and Multilateral Payment Arrangements between central banks. Bank of Indonesia 2017-08 Article PeerReviewed application/pdf en http://irep.iium.edu.my/59490/1/59490_Gold%20netting.pdf Mydin Meera, Ahamed Kameel (2017) Gold netting to strengthen financial system stability. Journal of Islamic Monetary and Finance (JIMF), 3 (1). pp. 1-24. ISSN 2460-6146 E-ISSN 2460-6618 http://jimf-bi.org/index.php/JIMF/article/view/713
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HG179 Personal finance HG3368 Islamic Banking and Finance
spellingShingle	HG179 Personal finance HG3368 Islamic Banking and Finance Mydin Meera, Ahamed Kameel Gold netting to strengthen financial system stability
description	Economic and financial crises seem to occur with increased frequency. Indeed now most countries, including several advanced economies like the US, Europe and Japan, are in serious economic recession. Employment and business opportunities have been much dampened. Inflation seems to be soaring globally and nations are witnessing widening gaps in income and wealth distribution. Many of these advanced economies are also facing shrinking population sizes that translate into aging problems and labor shortages. On top of those, there are environmental issues, including global warming. All these, in turn, have caused regional and global political conflicts and turmoil. The Arab Spring and the sovereign debt problems faced by some European countries like Greece are examples of this. Sustainability of economics and environment is thus of paramount concern of today. This paper considers those problems and suggests Interest-free Gold-based Electronic Netting System (IGENS) as an effective way of injecting liquidity into the economy, practically free, that can spur business and employment while bringing about structural stability, inflation checked with both economic and environmental sustainability. Netting or muqassah is a transaction allowed in shari’ah and is practiced worldwide in different forms. Examples include the highly successful WIR Bank of Switzerland, various Local Exchange Trading Schemes (LETS) and Bilateral and Multilateral Payment Arrangements between central banks.
format	Article
author	Mydin Meera, Ahamed Kameel
author_facet	Mydin Meera, Ahamed Kameel
author_sort	Mydin Meera, Ahamed Kameel
title	Gold netting to strengthen financial system stability
title_short	Gold netting to strengthen financial system stability
title_full	Gold netting to strengthen financial system stability
title_fullStr	Gold netting to strengthen financial system stability
title_full_unstemmed	Gold netting to strengthen financial system stability
title_sort	gold netting to strengthen financial system stability
publisher	Bank of Indonesia
publishDate	2017
url	http://irep.iium.edu.my/59490/ http://irep.iium.edu.my/59490/ http://irep.iium.edu.my/59490/1/59490_Gold%20netting.pdf
first_indexed	2023-09-18T21:24:17Z
last_indexed	2023-09-18T21:24:17Z
_version_	1777412087522263040

Gold netting to strengthen financial system stability

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