دور السياسات النقدية في تخصيص الموارد المالية للقطاعات الاقتصادية للفترة من 1970 الى 2009 (دراسة مقارنة بين البنوك التقليدية والاسلامية في السودان)

Abstract

Abstract The main objective of this research is to evaluate the monetary policy of the central Bank of Sudan during the period 1970 to 1983 which was depending on the rate of interest Compared with the Islamic monetary policy adopted during the period 1984 to 2009, and the effects of these polices on the financialresources of traditional and Islamic Banks their uses and trends. " The main hypotheses of the research were firstly : The traditional and Islamic Banks are depending on financial resources owned by others (Depositors) seeks to invest these resources on most secured activities .Secondly: The financial resources of traditional and Islamic Bank are short- term and refundable at any time, this fact will not allow these banks to invest in the long term investment projects .Thirdly: banking system stability is the responsibility of the central banks both traditional and Islamic, so thfipi banks will not allow commercial banks to invest their resources in the project may cause repayment and liquidity problems to these banks . Fourthly: increasing the cost of capital by the central bank will reduce the commercial banks lending to the productive sectors and increase it to the non-productive sectors. The research adopted the descriptive methodology to test the hypothesis, so the consolidated balance sheet of commercial banks, was used in which the data about the financial resources of these banks are defined, their uses and trends according to the monetary policy adopted by the central bank of Sudan. The main results of the research were: 1- The ratio of basic financial resources of traditional and Islamic banks (Capital, savings and investment deposits) to their total resources is low. So this will not help these banks to invest in long-term investment projects which are needed for development. I 2- The ratio of savings and investment deposits to the total deposits is higher in Islamic banks, but the rate of resources employed in financing activates is higher in the traditional banks.

3- The monetary policy adopted by the central bank of Sudan failed to encourage both traditional and Islamic banks to increase their finance to the productive sectors of the economy namely agriculture, industry and exports. 4- Increasing capital cost by the central bank of Sudan has resulted in a decrease in The the bank’s credit to the productive sectors and increased it to non- productive sectors both in traditional and Islamic banks. main recommendations of the research are : 1- Due to the nature of the financial recourses of traditional and Islamic banks, the role of these banks in economic development should be a complementary to the role of the government. 2- The rate of growth in banks credit should not exceed the rate of growth of the €COI101'1'ly. 3- The returns from the government certificates should be calculated from the

actual performance of the government projects constituting these certificates and the govemrnent should not use these retums in financing current expenditure.