Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/316469 
Year of Publication: 
2020
Citation: 
[Journal:] Islamic Economic Studies (IES) [ISSN:] 2411-3395 [Volume:] 28 [Issue:] 1 [Year:] 2020 [Pages:] 63-82
Publisher: 
Emerald, Bingley
Abstract: 
Purpose - The most prominent and persistent problems of our global monetary system are instability and imbalances. We propose an international monetary model to solve these problems while at the same time move the model closer to Maqāsid Sharī'ah (objectives of Sharī'ah). We name this an organic global monetary model or abbreviated as OGM. OGM is an international monetary model directly built on the national monetary system of each member country so that the two can co-exist. Design/methodology/approach - Model design, theory and literature. Findings - The model can eliminate interest rates at the central bank level, create non-tradable international money, and make a more stable international monetary system. Originality/value - Original.
Subjects: 
Global currency
Non-tradable money
Zero interest rate
JEL: 
E40
E50
F40
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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