Multicultural issues in the development of Islamic banking

• Authors: Piotr Masiukiewicz
• Languages of publication: EN

Abstracts

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.

Keywords

EN

conventional banks; financial product; Islamic banking; multiculturalism; Sharia.

• Publisher: Sciendo
• Journal: Journal of Intercultural Management
• Year: 2015
• Volume: 6
• Issue: 3
• Pages: 167-176

Dates

published

2015-09-01

online

2015-08-04

Contributors

author

Piotr Masiukiewicz

• Warsaw School of Economics

References

• Aashir, M. (2012), Customer Satisfaction in Islamic Banking in Pakistan, Lambert, Saarbrucken.
• Abdul-Rahman, Y., (2010) The art of Islamic Banking and Finance, John Wiley & Sons.
• Adamek, J. (2010), Mikrofinanse islamskie, Wydawnictwo CeDeWu.pl, Warszawa.
• Ayub, M., (2007), Understanding Islamic Finance, John Wiley and Sons. 5.
• DiVanna, (2014) J., Islamic Finance Industry Reaches Critical Mass, The Banker, November 7, http://www.thebanker.com/Reports/Special-Reports/Top-Islamic-financial-institutions/Islamic-finance-industry-reaches-critical-mass, access: 23.07.2014.
• Dziekan M., (2003), Prawo muzułmańskie wczoraj i dziś, in: Oblicza współczesnego islamu, E. Machut- Mendecka (ed.), Academica, Warszawa.
• Ernst & Young, (2013a), World Islamic Banking Competitiveness Report 2012-2013, Ernst & Young, Dubaj, 2013.
• Ernst & Young, (2013b), World Islamic Banking Competitiveness Report 2013-14, The Transition Begins, Ernst & Young, Dubaj.
• Górak-Sosnowska, K. (2007), Świat arabski wobec globalizacji. Uwarunkowania gospodarcze, kulturowe i społeczne, Difin, Warszawa.
• Górak-Sosnowska, K., Masiukiewicz, P. (2013), Bankowość muzułmańska, Oficyna Wydawnicza SGH, Warszawa.
• Hassan, M., Dridi, J., (2010), The Effects of the Global Crisis on Islamic and Conventional Banks: A Comparative Study, IMF Working Paper no. WP/10/2010, Washington.
• Iqbal, M., Molyneux, P., (2005), Thirty Years of Islamic Banking. History, Performance and Prospects, Palgrave Macmillan, New York.
• Kahf, M., Ahmad, A., Homud, S., (1998), Islamic Banking and Development an Alternative Banking Concept?, IRTI.
• Masiukiewicz, P. (2013a), Bankowość muzułmańska - trzeci megasektor, Instytut Zarządzania Wartością SGH, www.ValueComesFirst.pl Warszawa, access 11.07.13
• Masiukiewicz, P. (2013b), Ryz yko w bankowości muzułmańskiej, Bank no. 10.
• Masiukiewicz P. (2013c), Muzułmańskie certyfikaty sukuk, www.aleBank.pl access 15.10.2013
• Miracky, W. Bortolotti, B. (2009), Weathering the Storm. Sovereign Wealth Funds in the Global Economic Crisis of 2008, SWF Annual Report 2008, Monitor Group, April.
• Paxford, B., (2010), cQuestions of Price and Ethics: Islamic Banking and its Competitiveness, New Horizon.
• ‘Recession Opens Door for Islamic Finance’, (2009), International Tax Review, July/August Solé, J., (2007), Introducing Islamic Banks into Conventional Banking Systems, IMF, Washington, July.
• Śiz, A., Szczepański, M. S. (2011), ‘Wielokulturowość i jej socjologiczny sens. Festival caravan czy wielokulturowe street party?’ Studia Socjologiczne no. 4.
• Tahir, I.M., Abu Bakr, N.M., Wan Ismail, W.Z., (2008), ‘Customer Expectations and Perceptions of Service Quality in Islamic Banking. Evidence from Malaysia’, Journal of Islamic Economics, Banking and Finance.
• Trzaskowska-Dmoch, A. (2014), Różnorodność społeczna i kulturowa cz ynnikiem wpływu warunkującym stopień integracji europejskiej, w: Perspektywy i wyzwania integracji europejskiej, red. K. Opolski, J. Górski, Wydział Nauk Ekonomicznych Uniwersytetu Warszawskiego, Warszawa.
• Zachodnie banki a szariat, (2014) http://www.ipdirect.home.pl/kmp/zachodniebanki_a_szariat.htm, access 15.02.14

Identifiers

DOI

10.2478/joim-2014-0027