Macroprudential Regulation and Policy for the Islamic Financial Industry

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This volume discusses the research, theory, methodology, and applications of macroprudential regulation and policy within the Islamic financial industry. Published in collaboration with the Islamic Research and Training Institute (IRTI), it features contributions from a workshop with the University College of Bahrain (UCB) that gathered experts in Islamic banking, regulation, and financial economics. The book explores the implementation of macroprudential policy in the Islamic financial system, addressing current challenges and their impacts on economic growth, financial stability, and monetary regulation. Macroprudential policy is increasingly recognized as a means to manage systemic risk, yet many central banks and regulators lack experience with these tools in the Islamic context. The interplay between monetary policy and financial stability is crucial, particularly as conventional and Islamic banking systems coexist. This relationship has gained attention in research, highlighting the need for further insights into macroprudential policy. Contributions cover essential topics such as regulation, governance, systemic risk, and bank leverage, providing comprehensive research on macroprudential policy and regulation in the Islamic financial sector. This volume is poised to significantly enhance the literature on Islamic finance and inform public policy development, serving as a vital resource for students, academics, researche