The Role of Islamic Securities in developing the relationship between the Central Bank and the Islamic banks Presentation of the Sudanese Experiment

Abstract

Islamic banks are facing many difficulties related to their relationship with the Central bank due to the specificity of the Islamic Institutions Activity. Furthermore, the Central Bank has not yet understood the nature and the activity of the Islamic Banking Institutions. For example, in managing the monetary policy, the Central bank obliges the Islamic banking institutions to apply many traditional banking tools. In addition, it is not easy for Islamic Banking Institutions to request financing by the Central Bank if need be (disrupt of the function of ultimate credit recourse).
In return, the Islamic securities constitute an important tool that may play an excellent role within the framework of development of the relationship between Islamic banks and the Central bank.