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This paper contains further work by the Fund staff on trade issues and developments following the pattern of the surveys prepared in 1978 and 1981, mainly focusing on commercial policies of the major trading nations. It also includes a discussion of agricultural protection and issues relating to international trade in agricultural products.
External Stability Under Alternative Nominal Exchange Rate Anchors: An Application to the GCC Countriesby Zubair Iqbal S. Nuri Erbaş
A report from the International Monetary Fund.
This paper presents an overview of the unprecedented economic and social transformation witnessed by the member countries of the Cooperation Council of the Arab States of the Gulf (GCC)-Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates-over the last three decades.
Islam proposes that the banking systems that operate on the basis of an ex ante fixed rate of interest to replaced by a profit-sharing system in which the rate of return to the financial resources is not known and is not fixed prior to the undertaking of the transaction. While in Islam interest is forbidden, trade and profits are permissible and in fact encouraged. The papers in this volume all address one or more of the basic questions at the theoretical level. The represent a start in the attempt to introduce rigor into the analysis of Islamic banking and finance, thereby clarifying the nature of the basic relationships underlying the system.
#"Papers presented at the IMF and African Economic Research Consortium seminar on Trade reform and regional integration in Africa, December 1997. "#Includes bibliographical references.
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