The future of global financial stability

Impact of Global Financial Crises on Global Financial Stability and Need for an Alternative Financial System*

Th e main objective of this paper is to highlight the importance of the fi nancial stability of the global fi nancial system particularly aft er the recent global fi nancial crisis of 200809. Th e major causes of diff erent fi nancial crises possess the same pattern of greed among investors, ineffi ciency of government regulators, central banks and other stakeholders. Th ey have miserably faile...

On global stability of financial networks

Recent crisis in the global financial world has generated renewed interests in fragilities of global financial networks among economists and regulatory authorities. In particular, a potential vulnerability of the financial networks is the ‘financial contagion’ process in which insolvencies of individual entities propagate through the ‘web of dependencies’ to affect the entire system. In this pa...

Integrating Islamic Finance to Global Financial System: the Role of the Islamic Financial Services Board (IFSB)

A prudential framework is an important element in facilitating the successful integration of Islamic financial services to the global financial system. In recognition of this need, various stakeholders decided to establish the Islamic Financial Services Board (IFSB) to spearhead the development of a uniform set of prudential, supervisory and disclosure standards for the Islamic financial s...

Transition Challenges to Stability; Global Financial Stability Report; October 2013

The Future of Bitcoin as a Tool for Financial Development

The purpose of research is focused on the insight into the future of Bitcoin on the financial situation, its implications and challenges. The problem of study is to investigate how to deal with a new type of digital currencies (such Bitcoin) that does not have a physical presence and there is no specific body to issue. Thus, this study aims to identify the nature of Bitcoin currency and what ar...