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criminal law --- business law --- islamic banking and finance law --- public international law --- consumer law --- islamic international law --- Law --- Law. --- Malaysia. --- Acts, Legislative --- Enactments, Legislative --- Laws (Statutes) --- Legislative acts --- Legislative enactments --- Jurisprudence --- Legislation --- Regions --- Federation of Malaysia --- Ma-lai-hsi-ya --- Malaisie --- Malaĭzii͡ --- Malesia --- Persekutuan Tanah Malaysia --- Malaya --- Droit --- MalaiÌziiï¸ a︡ --- Malaysia --- Malaĭzii︠a︡ --- Mala�izi�i�a --- Malaĭzii͡a
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This paper investigates the determinants of the pattern of Islamic bank diffusion around the world using country-level data for 1992 - 2006. The analysis illustrates that income per capita, share of Muslims in the population and status as an oil producer are linked to the development of Islamic banking, as are economic integration with Middle Eastern countries and proximity to Islamic financial centers. Interest rates have a negative impact on Islamic banking, reflecting the implicit benchmark for Islamic banks. The quality of institutions does not matter, probably because the often higher hurdle set by Shariah law trumps the quality of local institutions in most countries. The 9/11 attacks were not important to the diffusion of Islamic banking; but they coincided with rising oil prices, which are a significant factor in the diffusion of Islamic banking. Islamic banks also appear to be complements to, rather than substitutes for, conventional banks.
Banks and Banking --- Macroeconomics --- Islamic Banking and Finance --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Economic Development: General --- Other Economic Systems: Public Economics --- Financial Economics --- Energy: Demand and Supply --- Prices --- Interest Rates: Determination, Term Structure, and Effects --- Banking --- Finance --- Islamic banking --- Commercial banks --- Oil prices --- Islamic finance --- Financial services --- Financial institutions --- Real interest rates --- Banks and banking --- Islamic countries --- Interest rates --- Malaysia
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Strong fundamentals and countercyclical policies have helped Malaysia during the global financial crisis. Executive Directors welcomed the authorities' challenge to make progress toward economic growth and structural transformation. Directors welcomed the consolidation effort in the 2010 budget, and stressed that a sound and sustained fiscal adjustment is essential. Directors appreciated the monetary policy stance to sustain noninflation growth. They welcomed the new Central Bank Act, which reinforces the underpinnings of the financial system. Directors also commended the authorities’ decision to participate in the Financial Sector Assessment Program.
Global Financial Crisis, 2008-2009. --- Financial crises --- Monetary policy --- Fiscal policy --- Sustainable development --- Economic stabilization --- International Monetary Fund --- Adjustment, Economic --- Business stabilization --- Economic adjustment --- Stabilization, Economic --- Economic policy --- Development, Sustainable --- Ecologically sustainable development --- Economic development, Sustainable --- Economic sustainability --- ESD (Ecologically sustainable development) --- Smart growth --- Sustainable economic development --- Economic development --- Tax policy --- Taxation --- Finance, Public --- Monetary management --- Currency boards --- Money supply --- Global Economic Crisis, 2008-2009 --- Subprime Mortgage Crisis, 2008-2009 --- Crashes, Financial --- Crises, Financial --- Financial crashes --- Financial panics --- Panics (Finance) --- Stock exchange crashes --- Stock market panics --- Crises --- Environmental aspects --- Government policy --- Internationaal monetair fonds --- International monetary fund --- Banks and Banking --- Budgeting --- Exports and Imports --- Inflation --- Macroeconomics --- Public Finance --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- International Lending and Debt Problems --- National Budget --- Budget Systems --- International Investment --- Long-term Capital Movements --- Price Level --- Deflation --- National Government Expenditures and Related Policies: General --- International economics --- Banking --- Budgeting & financial management --- Investment & securities --- Public finance & taxation --- External debt --- Budget planning and preparation --- Commercial banks --- Capital flows --- Public financial management (PFM) --- Expenditure --- Balance of payments --- Financial institutions --- Banks and banking --- Debts, External --- Budget --- Capital movements --- Prices --- Expenditures, Public --- Malaysia
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