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Enhancing liquidity risk management for Islamic banks in the West African Economic and Monetary Union (WAEMU): issues and challenges for as Shariah compliance framework

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dc.contributor.authorAhmadou Alhaminou Lo
dc.contributor.supervisorTariqullah Khan
dc.date.accessioned2024-03-18T00:54:12Z
dc.date.available2024-03-18T00:54:12Z
dc.date.issued2023
dc.description.abstractEstablishing a Shariah compliant liquidity risk management framework for Islamic banks in the West African Economic and Monetary Union (WAEMU) is fundamental for the development of the industry, 40 years after the licensing of the first Islamic bank in the Union. This paper provides a gap analysis of the current liquidity management framework of BCEAO, the central bank of WAEMU s member countries, focused exclusively on conventional banks activities. Institutional and operational challenges of a secular jurisdiction to fully comply with AAOIFI and IFSB standards regarding liquidity deploying and liquidity absorption, are highlighted alongside with the constraints for the establishment of a well-functioning Islamic interbank money market. After a review of the practices in mature Islamic finance jurisdictions (Malaysia, Bahrain, Indonesia and Pakistan) and in a secular jurisdiction like the United Kingdom, the paper identifies the relevant tools to manage these challenges. Finally, guidelines are proposed to establish a suitable risk management framework for Islamic banks in the WAEMU countries, in particularly the provision of a Shariah Lender of Last Resort mechanism in BCEAO s regulations and the creation of an Islamic interbank money market. This paper is hoped to accelerate the on-going work since 2012 within BCEAO and the regional Securities and Exchange Commission (AMF-UMOA), to promote the development of Islamic finance in the region with the technical assistance of the Islamic Development Bank.en_US
dc.identifier.citationLo, A. A. (2023). Enhancing liquidity risk management for Islamic banks in the West African Economic and Monetary Union (WAEMU): issues and challenges for as Shariah compliance framework (Master dissertation). INCEIF, Kuala Lumpur. Retrieved from https://ikr.inceif.org/handle/INCEIF/4020en_US
dc.identifier.urihttps://ikr.inceif.org/handle/INCEIF/4020
dc.languageEnglish
dc.language.isoengen_US
dc.publisherINCEIFen_US
dc.rights2023. INCEIF
dc.sourceSGPS
dc.subjectWAEMU
dc.subjectBCEAO
dc.subjectAMF-UMOA
dc.subjectLiquidity risk management
dc.subjectShariah compliance
dc.subjectGap-analysis
dc.subjectShariah lender of last resort
dc.subjectIslamic interbank money market
dc.subjectProject paper (eMIF)
dc.titleEnhancing liquidity risk management for Islamic banks in the West African Economic and Monetary Union (WAEMU): issues and challenges for as Shariah compliance frameworken_US
dc.typeMasteren_US
dlc.maintopicIslamic banking
dspace.entity.typePublication
ikr.doctypeTheses
ikr.licenseAvailable in PDF format. Kindly email to kmc@inceif.edu.my to access the item
ikr.topic.maintopicIslamic bankingen_US
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