rdf-syntax-grammar
mods:
  schema location: http://www.loc.gov/mods/v3 http://www.loc.gov/standards/mods/v3/mods-3-2.xsd
  title info:
    title: Application of the Grondona system in selected OIC countries
    sub title: justification, simulation, feasibility and evaluation from syariah perspective
  name:
    name part: Ahmed, Jameel
    role:
      role term: creator
  name:
    name part: International Islamic University Malaysia
    name part: Institute of Islamic Banking and Finance.
  genre: Theses, IIUM local
  origin info:
    place:
      place term: my
    place:
      place term: Kuala Lumpur
    publisher: IIUM Institute of Islamic Banking, International Islamic University Malaysia
    date issued: 2015
  language:
    language term: eng
  physical description:
    extent: xvii, 283 leaves : ill. ; 30cm.
  abstract: In view of the continuing episodes of financial crisis involving fiat money systems around the globe, this thesis aims to describe the author's analysis of the Grondona system of conditional currency convertibility from theoretical, Shariah and economic perspectives. The first part evaluates the theoretical soundness of the Grondona system in comparison to fiat money systems by using library research. The second part examines the Grondona system's structure and operations from the Shariah point of view by using library research. It also applies the principle of siyasah shariyyah to evaluate the Grondona system as a possible policy initiative for the OIC countries. Simulations of the Grondona system in four selected OIC countries, namely Malaysia, Turkey, Pakistan and Indonesia are also provided in order to analyse the potential impact of each country's CRD (Commodity Reserve Department) on macro-economic indicators. The simulations are performed by using a program developed in C++ and the results of the simulation are analyzed by using Eviews. The theoretical evaluation of the Grondona system shows that it contains essential attributes of a system for preserving sound and stable money. From the Shariah analysis of the Grondona system, it has been found that the fundamental principle of economic planning of Prophet Yusuf (A.S) was found in the Grondona system. The system accumulates reserves of primary commodities during times of abundance and releases those reserves during periods of scarcity, thereby helping to stabilise the "business cycle" through its counter-cyclical influence. Thus, in the light of such benefits, it may be inferred that implementation of the Grondona system is in accord with siyasah shariyyah since it helps to secure the maslahah (collective benefit) and prevent mafsadah (harm). The simulation results for the Grondona system shows an inverse relation between the prices of primary commodities and the quantity of reserves stockpiled by each count…
  note: by Jameel Ahmed
  note: Thesis (Ph.D)--International Islamic University Malaysia, 2015.
  note: Includes bibliographical references (leave 225-236)
  subject:
    geographic code: a-my---
  classification: HG3968.2
  identifier: https://lib.iium.edu.my/mom/services/mom/document/getFile/oneh1gXujxSsPD2dCErExSuLFshT4VDy20160309163205756
  record info:
    record content source: UIAM
    record creation date: 160111
    language of cataloging:
      language term: eng