Search results

1

Mudaraba term deposits in Islamic banking – the crucial aspects

100%

Sobol I.

FINANSE Czasopismo Komitetu Nauk o Finansach PAN

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2017

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issue 1(10)

373-382

EN

Significance of Islamic banking has been increasing in the last few decades. A distinctive feature of Islamic banks is the obligation to conduct operations in accordance with the principles of sharia, which is the religious law of Muslims. The prohibition of interest (riba) is considered to be the most fundamental sharia principle that Islamic banks must follow. As a result, transactions conducted by Islamic banks cannot be based on interest. This principle applies also to deposits which, preferably, should be based on the principle of profit and loss sharing. However, banks which offer this kind of deposits, face a number of problems. To overcome them is one of the challenges for the Islamic banking industry.

2

Best practice in bank corporate governance: The case of Islamic banks

100%

Alatassi B., Letza S.

Economics and Business Review

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2018

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vol. 4(18)

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issue 4

115-133

EN

Islamic banks are growing rapidly with annual growth rates of 17.6% between 2009 to 2013 and 19.7% from 2014 to date. This level of growth is projected to continue into the future. Islamic banks now operate in more than 75 countries with a value of approximately $920 trillion of bank assets. Islamic banks are increasingly being seen as good long-term value propositions and are serving both Muslim and non-Muslim customers across international markets. Despite the rapid growth in Islamic finance, the underpinning corporate governance rules and regulations are at an embryonic stage of development with little attention having been paid to them. The purpose of this paper is to help fill that gap by exploring a conceptual model of corporate governance for Islamic banks based on both Islamic finance principles while fused with elements of corporate governance standards from Western theories and codes, primarily the UK, and thereby ensure that good governance is in place in Islamic banks. The paper links the predominant corporate governance theories of Principal/Agent, Stakeholder and Stewardship with practice based corporate governance codes and explores the potential of applying stewardship theory to Islamic banks. Islamic principles emphasis is on real assets rather than debt as is the case in Western Banks and as a consequence this paper offers the conclusion that the more prudent approach to banking used by Islamic banks could be used as a model for Western banks and thereby deliver a more sustainable future and maintain confidence in banks and substitute for the need for taxpayer support, such as the guaranteed deposit scheme, which acts as a backstop under the Western approach.

3

Assessing the Influence of Islamic Banks' Products' Quality Features on Customer Satisfaction in Nigeria

100%

Baba B., Zabri S. M., Kaseri A.

Path of Science

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2018

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vol. 4

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issue 6

4001-4015

EN

Islamic banking is essential in today’s competitive banking markets. Research in Islamic banking worldwide is focussed mainly on how distinct is Islamic banking from the conventional banking. This research aims at investigating the factors responsible for the satisfaction of Islamic banking customers. The study seeks to identify the Islamic banking products’ quality features as they relate to customer satisfaction, to examine the level of customer satisfaction on Islamic banking products’ in Nigeria. Three research questions and four hypotheses are formulated to guide the study. The methodology employed was a quantitative approach using a questionnaire as a tool for the collection of data. The respondents for this study are customers of Ja’iz bank Nigeria plc, the major Islamic bank in Nigeria. A convenient sampling technique was adopted to select the sample from the population (customers) of the Ja’iz bank plc. in Northern Nigeria. Hence self-administered questionnaire was chosen to gather the data. The data analysis was done using Statistical Package for Social Sciences (SPSS) version 23.0 and PLS-SEM 3. The results show that perceived quality of the products significantly influences customers satisfaction. It also indicates that there is a higher correlation between the cost of using the products and the level of customer satisfaction, that is to say, customers are very cost conscious as they would like to use the products at a lower cost than the current obtainable one. The customers also showed a higher level of convenience in using the Islamic banking products, and compliance score indicated that the customers are satisfied that Islamic bank in Nigeria is Shari’ah compliant. This result serves as a signal to service providers in knowing what type of the products customers enjoyed using, and which of the products needed improvement so as to provide customers with what they want most, in order for the banks to keep the existing customers intact and lure more potential customers, and to the policymakers, regulators and other relevant stakeholders to play their respective roles toward sustaining Islamic banking industry in Nigeria.

4

Ignored Aspects of Islamic Banking and Finance

100%

Arabi S. H.

Management and Business Administration. Central Europe

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2014

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vol. 22

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issue 2

98-110

EN

Purpose: In the past several decades of Islamic banking and finance (IBF) activity in many countries, notable literature on this topic has been produced all over the world. By analyzing this IBF literature, this study investigates and highlights some ignored aspects of IBF activities. Design/Methodology: Academic IBF literature includes defending the plausibility of IBF as a part of Islamic economics; theoretical analysis regarding some advantages of IBF compared with conventional systems, suggesting some methods for performing IBF; and concentration on introducing financial instruments and innovations in Islamic financial markets. After reviewing them, they are classified as high ranking journal papers and graduate dissertations that were written on Islamic economics in I.R. Iran during the past three decades. Then they are analyzed via analytical methods and descriptive statistics to investigate the ignored aspects of IBF. Findings: Through this systemic study of Islamic banking, real and not skeletal adaptation of Islamic contracts, Islamic goals of Islamic economy, Islamic and ethical values, and justice and poverty reduction are some of the more important neglected aspects in IBF activities. Research Implications: Focusing on these areas in future research could improve the performance of IBF as part of the Islamic economic system and guide IBF activities to the real nature of Islam (Islamicity). Originality/Value: Besides reviewing and classifying the academic literature on IBF, the study is unique in focusing on the neglected aspects of IBF because it is very important and influential to distinguish IBF from non-IBF activities.

5

Crowdfunding And The Myth Of Disintermediation

88%

Amalian A. W., Amalyan N. D.

MIND Journal

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2019

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issue 7

1-10

EN

Most commonly crowdfunding (peer-to-peer and peer-to-business lending in particular) is classified as a new phenomenon in financial market, which come within the equally new aggregates of ‘sharing economy’ and/or ‘disruptive innovation’ and/or ‘FinTech’. More rarely it is presented as an example of ongoing process of disintermediation – disposal of a middleman between lenders and borrowers. This article is an attempt to substantiate several theses: (i) that primary financial instruments issued by debt-based crowdfunding platforms, bearing strong resemblance used in Islamic banking Mudaraba and Musharaka contracts, is nothing new in the world of finance; (ii) that more sophisticated instruments, created by crowdfunding platforms, give grounds to qualify this business model as a component of shadow banking; (iii) that contrary to the popular statement that ‘peer-to-peer lending cuts the institutional “middleman” and reduce costs, in reality crowdfunding platforms do not provide any sizeable reduction of borrowing costs and, per contra, contribute to the strengthening and expansion of the banking system.

6

Multicultural issues in the development of Islamic banking

88%

Masiukiewicz P.

Journal of Intercultural Management

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2015

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vol. 6

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issue 3

167-176

EN

Islamic banking is highly specific and is based on the Sharia law. This banking offers new products. which comply with the prohibitions of riba, maysir, gharar. Dynamic development of this banking in the word is the consequence of its opening to culturally diverse clients, and not only Muslims. Numerous researches demonstrate that many not-Muslim clients use the financial products which are offered in Islamic banks and in the “Islamic windows” in conventional banks. The Islamic banking offer is increasingly more often dedicated to the clients beyond the Muslim community, and at the same time the products dedicated to this community are offered by traditional banks. In this way the Islamic banking offer diffuses to other cultures.

7

Pojęcie lichwy w ekonomii islamskiej

88%

Bukowski A.

Annales. Etyka w Życiu Gospodarczym

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2014

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vol. 17

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issue 3

43-52

EN

The concept of Islamic economics as a coherent economic and financial system basically does not exist. Some authors take it, however, for simplicity, under-standing by this description any entities and legal regulations, mainly in the financial markets, driven – either declaratively or in fact – on the principles derived from religious precepts of Islam. The emphasis is put on so-called inter-est-free banking, which involves the concept of usury (riba). By referring to the essence of Islamic economics, the author shows the dif-ferences and similarities between "interest-free" Islamic banking and conven-tional banking (Western-style). It turns out that the differences are almost exclu-sively at the level of declarations and similarities that arise from attempts to circumvent religious regulations, as in the riba, are much more numerous than it might seem. They result from the need to fuse Islamic finances with global fi-nancial markets, which at least at the point of contact eliminates the capability of maintaining the autonomy of the local banking system. In addition, interest-free Islamic banking development meets an obstacle in the shape of the market pres-ence of conventional banks, which are its natural ideological competition. Thus, although the Islamic Development Bank estimates the size of the market of the Islamic system of financial services in 2015 at between 2 to 8 trillion dollars, one seems to be entitled to conclude that, in practice, between Islamic economics and capitalist economies of the West, at least in terms of banking services, the dif-ferences are purely semantic, and both Western and Islamic deposit, credit and investment products are in fact identical.

8

Wpływ globalnego kryzysu finansowego na bankowość islamską i klasyczną : analiza porównawcza

75%

Trojak M., Porcja D.

Zeszyty Naukowe Wyższej Szkoły Ekonomii i Informatyki w Krakowie

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2013

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vol. 9

341-350

PL

Celem niniejszego opracowania jest analiza wpływu globalnego kryzysu finansowego na funkcjonowanie bankowości opartej na prawie koranicznym. Autorzy zwrócili uwagę na kontekst etycznych fundamentów tej działalności, promujących sprawiedliwe rozkładanie ryzyka pomiędzy uczestników rynków finansowych, społeczną odpowiedzialność oraz bezpieczeństwo dokonywanych operacji. Tym samym dokonana zostanie próba odpowiedzi na pytanie, czy fundamenty bankowości islamskiej przyczyniają się do ograniczenia negatywnych skutków globalnego kryzysu finansowego. Badanie dotyczy między innymi problematyki wyceny oraz dostępności poszczególnych instrumentów finansowych w wybranych krajach muzułmańskich, a także wyników finansowych w bankach islamskich w okresie kryzysu finansowego lat 2007-2009. Tłem analizy była sytuacja sektora finansowego w USA i krajach Europy Zachodniej, gdzie dominuje bankowość klasyczna. Dzięki temu możliwym stało się porównanie obu systemów bankowych w okresie kryzysu. (fragment tekstu)

EN

The Islamic finance and banking become the more and more important player in the global financial sector. Contrary to classical banking the Islamic banking has religious fundamentals (shariat) and according to it they should be less affected by the financial crisis than the classical competitors. The authors tend to verify the following hypothesis: firstly. Islamic Banks are risk averse more than classical ones, secondly - the liquidity of money market in the system with higher share of Islamic institutions is higher than in markets with the domination of classical banking and thirdly - the valuation of Islamic based financial instruments is higher than traditional ones. The paper has the following structure: the first part describes the development of Islamic finance and the religious rules they are based on, the second part deals with the verification of research hypothesis and the last parts presents the main conclusion withdrawn from the research.(original abstract)

9

Zagadnienia etyki biznesu w Islamie

63%

Ramocka M.

Zeszyty Naukowe Małopolskiej Wyższej Szkoły Ekonomicznej w Tarnowie

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2006

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issue 1(9)

127-141

PL

Celem artykułu jest przybliżenie zagadnienia etyki gospodarczej w religii islamu. W części pierwszej opisano okoliczności powstania islamu, uwzględniając ówczesną sytuację społeczno-ekonomiczną. Przedstawiono również główne zasady, na których opiera się ta religia. Część drugą poświęcono głównym pryncypiom etyki gospodarczej w islamie, których źródłem jest przede wszystkim Koran. Zasady religii islamskiej regulują wszystkie sfery życia, także gospodarowanie, zaś reguły normatywnej etyki gospodarczej, korespondują z praktycznymi rozwiązaniami, dostosowanymi do życia współczesnych, praktykujących muzułmanów. Niektóre spośród nich zaprezentowano w artykule.

EN

The article addresses the issue of business ethics in Islam. The first part describes the origin of this religion, in particular from the point of view of the economic situation of Arabic tribes of the period. This part also presents the main rules of Islam. The second part is devoted to the normative principles of business ethics in Islam, which are rooted, above all in the book of the Koran. The normative principles of Islam extend to all spheres of human life, including the economy, and the obligatory normative requirements presented in this article (for instance relating to the activity of usury) correspond to adequate, practical solutions adopted in the daily life of contemporary practicing Muslims. The article also takes a closer look at these solutions themselves.

10

Rozwój finansów islamskich – stan i perspektywy

63%

Ostrowska E., Mateja M.

Pieniądze i Więź

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2014

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vol. 17

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issue 3(64)

150-157

PL

Celem artykułu jest zaprezentowanie podstawowych zasad formułowanych przez Islam, które regulują islamski sektor bankowy oraz analiza perspektyw jego rozwoju. Finanse islamskie pełnią coraz ważniejszą funkcję na globalnym rynku kapitałowym. W artykule omówiono wybrane zasady bankowości muzułmańskiej, koncentrując się na jej najistotniejszych cechach. W drugiej części artykułu poddano analizie perspektywy i rozwój finansów islamskich. Szczególny nacisk położono na zbadanie rynku Sukuk, instrumentów których wartość emisji tylko w latach 2008-2012 wzrosła siedmiokrotnie, dzięki czemu stają się coraz bardziej popularne wśród inwestorów.

EN

The aim of this article is to present the fundamental principles formulated by Islam, that govern the Islamic banking sector and an analysis of the prospects for its development. Islamic finance have an increasingly important function in the global capital market. The paper presents selected principles of Islamic banking, focusing on its most important characteristics. The second part of the article analyzes the prospects and development of Islamic finance. Particular emphasis was placed on the exploration of Sukuk market, instruments whose value emissions has increased sevenfold in years 2008-2012, making them progressively popular among investors.

11

Bankowość islamska i bankowość konwencjonalna - próba porównania

63%

Włodarczyk J.

Studia Ekonomiczne

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2013

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vol. 145

113-122

EN

This paper discusses the most important theoretical foundations of Islamic banking, presents some controversies related to the comparison of the performance of Islamic and conventional banks during the global financial crisis and points out several problems that may influence further development of Islamic banking and its relation to conventional banking.

12

Bankowość islamska a bankowość konwencjonalna

51%

Agata O. B.

Ekonomika i Organizacja Przedsiębiorstwa

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2015

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issue 2 (780)

15-30

PL

Niniejszy artykuł prezentuję istotę, historię i główne założenia bankowości islamskiej. Przedstawia instrumenty finansowe oferowane przez islamskie banki oraz zasadnicze różnice pomiędzy bankowością islamską a bankowością konwencjonalną.

EN

This article presents the most important theoretical foundations of Islamic banking and its relation to conventional banking. This paper shows also the comparison of the performance of Islamic and conventional banks and points out several problems that may influence further development of Islamic banking .

Refine search results

Mudaraba term deposits in Islamic banking – the crucial aspects

Best practice in bank corporate governance: The case of Islamic banks

Assessing the Influence of Islamic Banks' Products' Quality Features on Customer Satisfaction in Nigeria

Ignored Aspects of Islamic Banking and Finance

Crowdfunding And The Myth Of Disintermediation

Multicultural issues in the development of Islamic banking

Pojęcie lichwy w ekonomii islamskiej

Wpływ globalnego kryzysu finansowego na bankowość islamską i klasyczną : analiza porównawcza

Zagadnienia etyki biznesu w Islamie

Rozwój finansów islamskich – stan i perspektywy

Bankowość islamska i bankowość konwencjonalna - próba porównania

Bankowość islamska a bankowość konwencjonalna