A shari‘ah compatible fixed-return financial instrument is needed in an Islamic economy. This paper explores the potential of ijara (renting)-based financial instruments to meet this need. The paper proposes ijara-bonds as marketable Islamic financial instruments for resource mobilization in...

In 2011, Islamic banking reached around 24% of the banking sector in Qatar, yet Qatar Central Bank (QCB) has not developed a Sharīʿah compliant financier of last resort. This paper investigates to which extent the available liquidity management instruments for Islamic banks are Sharīʿah...