A Comparative Study Of Banking In The West And In Islam
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A Comparative Study Of Banking In The West And In Islam
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Author : Cheikh Soumare
language : en
Publisher: Xlibris Corporation
Release Date : 2015-07-08
A Comparative Study Of Banking In The West And In Islam written by Cheikh Soumare and has been published by Xlibris Corporation this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-07-08 with Business & Economics categories.
A Comparative Study of Banking in the West and in Islam, by Cheikh Abdou Khadr Soumare, traces the history of European banking from the Middle Ages until today. Beginning with the ancient origins of the institution of banking itself, Soumare describes how two schools of banking emerged: Islamic and Western. The study demonstrates how the trade practices of the Islamic world influenced European banking at its inception, and how Islam and Christendom dealt differently with their mutual prohibition of usury, with the West gradually loosening the ban while Islam maintained it into the nineteenth century. Despite this apparent handicap, commerce flourished in the Islamic world, thanks to the invention of alternative commercial techniques such as the form of investment partnership known as mudaraba, characterized by small size and decentralized decision-makingits strengthbut also a weakness in competition with the massive volume of private investment Western deposit banks could generate. The author poses the idea that perhaps a transformed version of this ancient model could resolve the paradox and open contemporary Islamic commerce to almost unlimited growth.
A Comparative Study Of Islamic Finance In Australia And The Uk
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Author : Imran Lum
language : en
Publisher: Routledge
Release Date : 2021-09-28
A Comparative Study Of Islamic Finance In Australia And The Uk written by Imran Lum and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-09-28 with Business & Economics categories.
This book provides valuable insights into the practical challenges faced by the nascent Islamic finance industry and compares the Australian experience to developments in the UK. It contributes to a greater understanding of how Muslims living as a minority in Australia and the UK negotiate Islamic doctrine in secular societies by focusing on one aspect of this negotiation, namely the prohibition of ribā. There is little debate in the Islamic tradition on the prohibition of ribā. The differences, however, lie in the interpretation of ribā and the question of how Muslims live in a society that is heavily reliant on interest and conventional banking, yet at the same time adhere to Islamic guidelines. Through the words of religious leaders, Muslim professionals and university students, Imran Lum provides real accounts of how Muslims in Australia and the UK practically deal with conventional banking and finance products such as home loans, savings accounts and credit cards. He also explores Muslim attitudes towards Islamic finance and queries whether religion is the sole determining factor when it comes to its uptake. Drawing on his own unique experience as a practitioner responsible for growing an Islamic business in a conventional bank, Lum provides a firsthand account of the complexities associated with structuring Islamic finance products that are not only sharia compliant but also competitive in a non-Muslim jurisdiction. Using ṣukūk bonds as a case study, he highlights the tangible and non-tangible barriers to product development, such as tax and regulatory requirements and the rise of Islamophobia. Combining academic and industry experience, Lum unpacks the relationship of Islamic finance with Muslim identity construction in the West and how certain modalities of religiosity can lead to an uptake of Islamic finance, while others can lead to its rejection.
Islamic Banking
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Author : Fuad A Al-Omar
language : en
Publisher: Zed Books
Release Date : 1996-06
Islamic Banking written by Fuad A Al-Omar and has been published by Zed Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996-06 with Business & Economics categories.
Islam has a very specific approach to commercial transactions, the law of contract, interest charges, indeed to the very nature of property. For financial institutions operating in an Islamic environment, or seeking to meet the requirements of communities committed to Islamic law, this poses a variety of problems. This important book investigates how such a challenge can be met in practice. The authors investigate the way Islamic banks work within different economic, financial, social, legal and religious environments. They take the reader through the basic principles involved, the issues that arise, and the difficulties that are often encountered. Drawing on detailed studies of Islamic banking in London, Jordan, Turkey, Malaysia and Pakistan, they provide an understanding of how complex Islamic concepts impact upon the use of financial instruments, commercial priorities and services. Relationships with central banks, comparative analysis of financial statements and the role of Islamic banking in a development context are also covered. ISLAMIC BANKING will be essential reading to all those involved in the setting up and running of Islamic banking units in western countries, and a key resource for students of economics in the international arena.
Money In Islam
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Author : Masudul A. Choudhury
language : en
Publisher: Taylor & Francis
Release Date : 2005-10-09
Money In Islam written by Masudul A. Choudhury and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-10-09 with Business & Economics categories.
This volume takes a unique and challenging look at how money has operated in Islamic society and at how Islamic theoretical frameworks have influenced perceptions of money. The author draws upon historical, data and policy analysis to present a comparative study of monetary theories, including recent treatment of money by Islamic economists. Discussion also covers the nature of joint venture, stock markets, banks and financial intermediaries, price stability and international trade. This work sheds pioneering light in this area, and will be of interest to academics, graduates and researchers internationally.
Islamic Development In Palestine
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Author : Stephen Royle
language : en
Publisher: Taylor & Francis
Release Date : 2016-10-04
Islamic Development In Palestine written by Stephen Royle and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-10-04 with Political Science categories.
This book assesses the capabilities of an Islamic approach in aiding self-organisation by examining the case of the occupied Palestinian territories in conjunction with a comparative analysis of four other nations. Three main mechanisms of Islamic development are explored; finance, microfinance and charity. Identifying the need to recognise the non-linear nature of societal interaction at the individual, community and state levels, the book uses complexity theory to better understand development. It assesses the role of Islamic development at macro and micro levels and identifies issues with rigid and hierarchical policy making.
Strategies For Western Banks To Survive In Islamic Finance Environment
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Author : Nicholas Guantai
language : en
Publisher: GRIN Verlag
Release Date : 2013-05-29
Strategies For Western Banks To Survive In Islamic Finance Environment written by Nicholas Guantai and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-05-29 with Business & Economics categories.
Research Paper (postgraduate) from the year 2013 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, , language: English, abstract: The current rapid growth rate of Islamic banking in the world market has made the banking approach a significant contributor to economic growth. However, few studies have been done to determine the extent to which conventional banks can survive in an Islamic banking environment. The purpose of this study was to assess the financial performance of financial institutions and relate it to their involvement in Islamic banking. The study took an explorative and a quantitative approach, whereby literature was acquired from online sources for use in assessing the current state of knowledge, and financial performance data for Citigroup, Deutsche Bank, HSBC, Morgan Stanley and Goldman Sachs were acquired from Bloomberg BusinessWeek. The literature was reviewed in the literature review section while financial performance records were assessed using Microsoft Excel 2011 software package. The study findings determined that conventional banks have varying degrees of success in their Islamic banking ventures, whereby high levels of fluctuations characterize the institutions’ financial records. According to the exponential growth of Goldman Sachs in 2012 upon the issuance of sukuks, it is relatively easy for conventional banks to achieve growth through offering of Islamic banking products. However, according to the study findings, Islamic banking is not suitable for banks that want to achieve consistency in exponential growth, but is highly relevant for institutions that want to remain stable in their financial performance despite changes in market conditions.
Money In Islam
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Author : Masudul Alam Choudhury
language : en
Publisher: Psychology Press
Release Date : 1997
Money In Islam written by Masudul Alam Choudhury and has been published by Psychology Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Business & Economics categories.
This volume takes a unique and challenging look at how money has operated in Islamic society and at how Islamic theoretical frameworks have influenced perceptions of money. The author draws upon historical, data and policy analysis to present a comparative study of monetary theories, including recent treatment of money by Islamic economists. Discussion also covers the nature of joint venture, stock markets, banks and financial intermediaries, price stability and international trade. This work sheds pioneering light in this area, and will be of interest to academics, graduates and researchers internationally.
Factors Affecting Performance Of Banks A Comparative Study Of Islamic And Conventional Banks In Pakistan
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Author : Muhammad Ejaz Sandhu
language : en
Publisher:
Release Date : 2019-02-17
Factors Affecting Performance Of Banks A Comparative Study Of Islamic And Conventional Banks In Pakistan written by Muhammad Ejaz Sandhu and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-02-17 with categories.
Banking sector is an important part of a country's economy. They play very vital role for development of a developing country like Pakistan. In Pakistan, Islamic Banking was started properly in 2002 with Meezan Bank Ltd. and after that it was developed gradually. Up to 2012, there were 7 full fledge Islamic Banks working in Pakistan, and at present there are only 5 full fledge Islamic Banks are left. Now all conventional Banks are also trying to shift toward Islamic Banking day by day, but still there is no fast growth of Islamic Banking in Pakistan. Conventional Banks have got a good growth in the country during last 2 decades, because they earned a good profits from banking business. On the other hand, Islamic Banks in Pakistan are not earning a good profit. Most of the Banks are suffering from Losses from last few years. Only Meezan Bank is one Islamic Bank in the country, which is earning good profits regularly. Whereas other Pure Islamic Banks are facing continuous losses. It can be seen from the financial statements of all Islamic Banks for last many years.
Risk Management A Comparative Study Of Regulations And Practices In One Conventional And One Islamic Bank In Pakistan
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Author : Muhammad Asadullah Bilal
language : en
Publisher:
Release Date : 2020-01-07
Risk Management A Comparative Study Of Regulations And Practices In One Conventional And One Islamic Bank In Pakistan written by Muhammad Asadullah Bilal and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-01-07 with categories.
Master's Thesis from the year 2018 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: B, language: English, abstract: The purpose of this research study is to figure out the differences in rules/regulations and practices regarding risk management in Islamic and conventional banks in Pakistan. Keeping in view the research questions, the nature of this research is a qualitative case study. The findings of the study reveal that there exists a substantial difference between Islamic and conventional banks in risk management practices, risk identification, liquidity risk analysis and risk governance. Islamic bank is performing competently in liquidity risk analysis, whereas, conventional bank is competent in risk management practice, risk identification, and risk governance. The risk management, risk monitoring and reporting, and liquidity risk analysis are weak in Islamic banks. Whereas, risk analysis and assessment are weak in conventional banks. Due to lack of risk management training and limited knowledge of risk management practices, understanding of risk management practices is weak in Islamic bank. The study also reveals that in terms of rules and regulations, there is no proper institutionalisation of Islamic institutions regarding risk management as compared to conventional banking where the risk management practices are institutionalised by Basel Committee on Banking Supervision.
The Effects Of The Global Crisis On Islamic And Conventional Banks
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Author : Jemma Dridi
language : en
Publisher:
Release Date : 2005-10-31
The Effects Of The Global Crisis On Islamic And Conventional Banks written by Jemma Dridi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-10-31 with categories.
This paper examines the performance of Islamic banks (IBs) and conventional banks (CBs) during the recent global crisis by looking at the impact of the crisis on profitability, credit and asset growth, and external ratings in a group of countries where the two types of banks have significant market share. Our analysis suggests that IBs have been affected differently than CBs. Factors related to IBs‘ business model helped limit the adverse impact on profitability in 2008, while weaknesses in risk management practices in some IBs led to a larger decline in profitability in 2009 compared to CBs. IBs‘ credit and asset growth performed better than did that of CBs in 2008-09, contributing to financial and economic stability. External rating agencies‘ re-assessment of IBs‘ risk was generally more favorable.