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The third pillar, risk-sharing and entrepreneurship, is about the distribution channel, affecting both individuals and organizations. Islamic economics promotes an exchange-based financial system on…
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Shariah Audit is a systematic and independent examination or verification of the products, operations, activities, procedures, internal controls and records relating to the Islamic financial…
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Low-income people are vulnerable to risks as poverty and vulnerability reinforce each other whereby risk events can move households into poverty traps. Since negative shocks contribute to the…
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One of the main challenges faced by the Islamic finance industry is the harmonization of legal and regulatory frameworks and monetary policies. Islamic financing is also flourishing under different…
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The Islamic finance sector have experienced substantial growth in recent years. Today, more than 500 Islamic banking and finance institutions are operating worldwide, which are claimed to manage…
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Jeffrey Sachs speaks with journalist Casey Michel, author
of American Kleptocracy: How the U.S. Created the World's Greatest
Money Laundering Scheme in History.
Jeffrey Sachs and Casey…
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What is The Multidimensional Poverty Measure? It is an index that captures the percentage of households in a country deprived along three dimensions of well-being – monetary poverty, education,…
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This chapter begins by explaining the impact of aggregate demand in an open economy, via fixed and flexible exchange rates. In a fixed or pegged exchange rate, the central bank doesn’t allow…
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This chapter focuses on how bank panics can and should be prevented. There are four methods proposed for preventing (or decreasing) bank panics should be prevented: capital adequacy, reserve…
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Even with the reforms that were introduced in the Great Depression and afterward, bank panics can happen again. This chapter provides a comprehensive overview of the 2008 financial crisis, which…
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This chapter discusses monetary policy, and focuses on the difference between fixed and floating exchange rates. It begins by explaining the role that a central bank plays in maintaining its exchange…
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This chapter focuses on why people demand money. Individuals and firms demand money to make transactions. The inventory approach to money demand, from Baumol and Tobin, says that families can…
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This video focuses on central bank and monetary policy, and specifically how central banking has evolved in recent years. Most banks aim to control interest rates rather than a monetary aggregate.…
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This module covers money and central banking, and looks at how a barter economy differs from a monetary economy. The financial crisis of 2008 is explained in order to examine the use of an array of…
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This chapter discusses the money supply process by the central bank. In most countries, the short-term interest rate is used as the instrument of monetary policy. There are three operations of a…
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This chapter profiles a number of initiatives focused on innovation for energy and they connect to investment and policy. One is Mission Innovation, which includes 20 countries committed to investing…
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