The Islamic reform to the Saudi Arabian financial system (Ph.D. Dissertation)

This thesis aims to reconcile the contradictions that exist between financial intermediary practices and customers' needs in Saudi Arabia. Due to these contradictions, resources cannot be allocated properly and the role of the central bank is lessened. Through examination of these financial systems, a monetary model is developed that incorporates interest-free financial institutions and increases the role of the central bank in managing liquidity. The study also proposes policy reforms, then evaluates through a simulated analysis their effectiveness within the current economic system.