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: Monetary policy transmission through investment account in Malaysia
    sub title: pre and post IFSA 2013
  name:
    name part: Muhammad Md Husin
    role:
      role term: creator
    role:
      role term: author
  name:
    name part: Gairuazmi Mat Ghani
    role:
      role term: degree supervisor
  name:
    name part: Salina Kassim
    role:
      role term: degree supervisor
  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
    date issued: 2020
  language:
    language term: eng
  physical description:
    extent: xiii, 159 leaves : colour illustrations ; 30cm.
  abstract: This paper sought to identify the monetary policy transmission via the Investment Account (IA) and how it has affected Islamic banks in Malaysia during the pre and post introduction of Islamic Financial Service Act (IFSA) 2013. As the name implies, IA is a type of account meant for investment purpose that bears a unique risk and reward structure compared to interest rate (IR) based deposit account offered by conventional banks. Such differences would eventually lead to a divergence between rate of return (ROR) for IA and IR for conventional deposits. Notwithstanding that, it is interesting to note that under dual banking system practiced in Malaysia, divergence between ROR and IR would create arbitrage opportunity for customers in the banking system and could lead to unintended volatility as the customers could easily switch between IA and IR based deposit. This could also diminish the effectiveness of the monetary policy framework of the central bank. In this regard, this paper seeks to examine how monetary policy stance by Bank Negara Malaysia (BNM) is transmitted through the IA. The study employs the Autoregressive-Distributed Lag (ARDL) techniques to measure the relationships between variables associated with IA, ROR, overnight policy rate (OPR), bond yield, economic output as well as inflation. The period of the study is divided into three different periods which are the full period of study from January 2007 until December 2018, period prior to IFSA introduction from January 2007 to June 2013 and period post IFSA introduction from July 2015 to December 2018. These periods coincide with the evolution of IA which is structured based on Mudharabah contract. The outcome of the ARDL estimates indicate that monetary policy transmission via IA is observed for all three periods, mirroring the scenario seen for similar transmission via interest based conventional deposits. This suggest appropriate response towards monetary policy stance of BNM, exemplified by the long …
  note: by Muhammad Md Husin
  note: Abstracts in English and Arabic.
  note: "A thesis submitted in fulfilment of the requirement for the degree of Doctor of Philosophy in Islamic Banking and Finance."--On title page.
  note: Thesis (Ph.D)--International Islamic University Malaysia, 2020.
  note: Includes bibliographical references (leaves 138-144).
  subject:
    geographic code: a-my---
  subject:
    topic: Monetary policy
    geographic: Malaysia
  classification: BPH382
  identifier: http://studentrepo.iium.edu.my/handle/123456789/10043
  record info:
    record content source: UIAM
    record creation date: 200902
    language of cataloging:
      language term: eng