أدوات السياسة النقدية في إطار آليات النظام الاقتصادي الإسلامي مع الإشارة إلى حالة بعض الدول الإسلامية

Abstract

Monetary policy is one of the most important factors influencing economic policy, which is part of the general policy of the state. Therefor the general policy of the state is only part of the social system and philosophy. The Islamic economic system is different from the conventional economic systems in terms of the basics, which is founded on, and its objectives, as well as its instruments and the range of use. Neither can we transfer the specifications, the characteristics and the economic problems of the conventional economic systems to the Islamic economic system, nor can we propose the same solutions to these problems. Perhaps the prevalence of global economic crises, resulting economic imbalance and instability is evidence of the inadequacy of the economic systems. Hence the importance of the Islamic economic system because of its spirituality and its relevance to human nature. The central bank resorted to monetary policy in order to adjust the supply of money and credit, in order to achieve the main objective of economic policy is to maintain economic balance and stability, and used to cope with economic crises such as inflation and deflation. Monetary policy instruments are divided into two parts: the first is to influence the volume of credit available, and the second is to influence and direct certain types of credit to some sectors. The monetary policy instruments currently applied in Islamic countries are derived from the conventional economic systems based on the its philosophy, it was natural that this contradicted with the Islamic economic system and philosophy, which is reflected in monetary policy instruments based on the interest rate (Riba (. To remove this contradiction, these instruments must be studied and reviewed according to the Islamic economic system mechanisms, and developing appropriate alternatives to interest rate-based instruments in order to formulate a monetary policy free of interest rates capable of achieving their objectives