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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
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Analiza możliwości zawierania transakcji opcyjnych na islamskim rynku finansowym

100%
Sobol I., Uniwersytet Gdański; Wydział Ekonomiczny; Instytut Handlu Zagranicznego
Acta Universitatis Lodziensis. Folia Oeconomica
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2012
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vol. 273
EN
The aim of this paper is the analysis of options in the context of Islamic finance. Traditional options in most cases cannot be offered by Islamic financial institutions, since their construction is not compliant with very restrictive rules of Muslim religious law – Sharia, such as the prohibition of usury, speculation, or the obligation to avoid risk. However, given that they are an important tool in risk management, there is ongoing debate among Muslim economists about the possibility to substitute them with traditional Islamic financial instruments, i.e. contracts al-arbun and khiyar al-shart.
3
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Retail investors in the foreign exchange market

63%
Sobol I., Szmelter M.
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu
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2020
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issue vol. 64, nr 6
168-181
EN
The foreign exchange market (FX market, forex) is the largest and the most liquid market of the world. Up to the late 1990s, the FX market was dominated by financial institutions and large corporations, which conducted FX transactions for hedging, speculation and arbitrage purposes. While these participants still constitute the most important part of the market, the role of retail investors has been increasing since the beginning of the 2000s. FX trading conducted by retail investors has become significant enough to be included in the FX market statistics, provided by the Bank for International Settlements (BIS). The data collected by BIS is the basis for the analysis conducted in this paper. The main objective of the study is to examine the factors which contributed to the emergence and development of the FX retail market as well as to analyse its size and structure in comparison with the total FX market.
PL
Rynek walutowy jest największym i najbardziej płynnym rynkiem na świecie. Do końca lat 90. XX wieku był zdominowany przez instytucje finansowe i duże korporacje, które przeprowadzały transakcje walutowe w celu zabezpieczenia, spekulacji i arbitrażu. Mimo że podmioty te nadal stanowią najważniejszą część rynku, od 2000 roku rośnie również rola inwestorów indywidualnych. Wartość obrotów na runku walutowym, za które odpowiedzialni są inwestorzy indywidualni, stała się na tyle duża, że jest uwzględniana w statystykach rynku walutowego publikowanych przez Bank Rozrachunków Międzynarodowych (Bank for International Settlements – BIS). Dane zebrane przez BIS są podstawą badań przeprowadzonych w tym artykule. Głównym ich celem jest przedstawienie czynników, które przyczyniły się do rozwoju detalicznego rynku walutowego, oraz analiza wielkości i struktury tego rynku na tle całego rynku walutowego.
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