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Constraints on Islamic Banking Within European and Czech Legal Framework
Mádl, Hynek ; Kohajda, Michael (advisor) ; Kotáb, Petr (referee)
Title Constraints on Islamic Banking Within European and Czech Legal Framework Author Hynek Mádl Keywords Islamic banking, credit, Sharī'ah board, Murabaha, Musharakah Summary Islamic banking is a sector of financial market which was formed in the 1970s and since then, it has spread outside Muslim countries too. The difference between Islamic banking and conventional banking is in the fact that all activities of Islamic banks shall be consistent with the principles of Islamic law. The submitted thesis aims to find and analyse obstacles of implementing Islamic banking, resulting from its singularities, in the European and Czech legal framework. In the introduction, the author shortly describes theoretical principles of Islamic banking and ways in which contemporary practices of Islamic banks have deviated from these principles. The next part of the thesis lays out individual characteristics of Islamic banking. Using the examples of specific finance models (especially Murabaha and Musharaka financing), these features are assessed from the viewpoint of their compliance with legal regulation of banks and their activities. The process in which a bank provides financing to its clients by acquiring and disposing assets, which such financing applies to, is considered to be the most disputable element of Islamic...
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The development of Islamic banking in Great Britain with focus on Al Rayan Bank
Bízková, Tereza ; Pikal, Kamil (advisor) ; Váška, Jan (referee)
This bachelor thesis deals with the development of Islamic banking in Great Britain with a particular focus on Al Rayan Bank. Islamic finance has become more relevant in the Muslim countries, however, it is also increasingly present in the western financial structures. Although the process is still in its infancy, it is possible to observe specific differences among the countries. Great Britain is (to some extent together with Luxembourg) characterized as a country with the most developed market of Islamic financial products on the continent. The development in the country has been going on since the late 70s and early 80s and it has been affected by many factors. One of its most essential milestones was the establishment of the first wholly Islamic bank in Europe named Islamic Bank of Britain (later renamed to Al Rayan Bank) in 2004, which concentrates on retail market. Therefore, the aim of this thesis is to observe this unprecedented development and to identify circumstances and elements that contributed to it. In addition, the importance of the above mentioned institution both to the sector and the entire country is evaluated. The thesis is divided into three chapters. The first one explains the functioning of Islamic banking in theory, covering its concise history, religious principles and...
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Islámské bankovnictví z pohledu porovnání výkonnosti
Kvitová, Veronika
This thesis examines banking system of Turkey which incorporates both Islamic and conventional principles. Main focus is set on the differences of these principles, mainly on the fact that interest is prohibited in Islamic banks. With increasing role of Islamic banks in western countries this thesis investigates the efficiency of conventional and Islamic banks. Thesis is divided into three parts. First part describes basic principles and performance indicators of conventional banks. Next topic covered in this part is the evolution of Islamic banking system, its basic rules and main differences between Islamic and conventional banking systems. Because this thesis is mainly focused on Turkish banking sector a brief summary of economic situation in Turkey is also included in this part. Second part contains the practical terms. It includes characterization of selected Islamic banks in Turkey, their key performance indicators and comparison of these indicators with conventional banks. Third part is about final conclusion of efficiency of Islamic banks in Turkey.
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The comparison of the monetary systems without interest and systems with interest
FISENKO, Anton
This bachelor thesis is focused on comparing the monetary system without interest and the system with interest. The thesis contains information on interest-free monetary systems, describes their characteristics and types. The work includes information on complementary currencies, JAK bank and Islamic banking and demonstrates significant historical examples of the use of complementary currencies in the traditional economy. The thesis presents a comparison of Islamic and traditional banking. The comparison is based on an analysis of existing empirical studies about Islamic banking conducted over the past 10 years.
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Regulation of financial markets: Islam vs. conventional financial systems
Valachová, Sára ; Urban, Jan (advisor) ; Borkovec, Aleš (referee)
v anglickém jazyce This theses deals with the nature of Islamic banks and their products in the context of the regulation of financial markets and banking. Islamic banking can be understood as a banking activity that is consistent with sharia - Islamic law. Despite considerable obstacles that Islamic banking has faced in the past, it now occupies a significant and growing portion of the global financial system. In the first part, I will introduce the principles of Islamic law, on which Islamic banking is built, along with the key principles of Islamic finance. Special attention is also paid to the recent history of Islamic banking. Following is a section dealing with selected banking products offered by Islamic banks, whose understanding is crucial for the comprehension of the specific challenges that Islamic banks are facing. The second part is devoted to the issues of regulation of Islamic banks. Firstly, an overview of international regulatory institutions operating in the field of Islamic finance is given and I further explore the question of the impact of Basel III measures on Islamic banks. Due to its nature, Islamic banks are in need of further internal and external audit which examines compliance of their activities with Islamic law. This work is carried out by Sharia Supervisory Boards...
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The development of Islamic banking in Great Britain with focus on Al Rayan Bank
Bízková, Tereza ; Pikal, Kamil (advisor) ; Váška, Jan (referee)
This bachelor thesis deals with the development of Islamic banking in Great Britain with a particular focus on Al Rayan Bank. Islamic finance has become more relevant in the Muslim countries, however, it is also increasingly present in the western financial structures. Although the process is still in its infancy, it is possible to observe specific differences among the countries. Great Britain is (to some extent together with Luxembourg) characterized as a country with the most developed market of Islamic financial products on the continent. The development in the country has been going on since the late 70s and early 80s and it has been affected by many factors. One of its most essential milestones was the establishment of the first wholly Islamic bank in Europe named Islamic Bank of Britain (later renamed to Al Rayan Bank) in 2004, which concentrates on retail market. Therefore, the aim of this thesis is to observe this unprecedented development and to identify circumstances and elements that contributed to it. In addition, the importance of the above mentioned institution both to the sector and the entire country is evaluated. The thesis is divided into three chapters. The first one explains the functioning of Islamic banking in theory, covering its concise history, religious principles and...
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Coexistence of Conventional and Islamic Banking: The Impact on Growth and Trade
Hawi, André ; Mejstřík, Michal (advisor) ; Pečená, Magda (referee)
This thesis aims at understanding the impact of Islamic banking development on economic growth and international trade in countries with a dual banking system. For this purpose we use a sample of twenty countries mainly from the Middle East, North Africa, and Southeast Asia during the time period from 1999 through 2014. We employ commonly used panel data estimators such as Pooled OLS and Fixed Effects, as well as the generalized method of moments (GMM) to address a possible endogeneity of the banking development indicators. Our findings show that on the one hand Islamic banking development in countries with a dual banking system hinders economic growth while on the other hand it boosts international trade. The study further discusses why Islamic banking might actually obstruct growth.
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Constraints on Islamic Banking Within European and Czech Legal Framework
Mádl, Hynek ; Kohajda, Michael (advisor) ; Kotáb, Petr (referee)
Title Constraints on Islamic Banking Within European and Czech Legal Framework Author Hynek Mádl Keywords Islamic banking, credit, Sharī'ah board, Murabaha, Musharakah Summary Islamic banking is a sector of financial market which was formed in the 1970s and since then, it has spread outside Muslim countries too. The difference between Islamic banking and conventional banking is in the fact that all activities of Islamic banks shall be consistent with the principles of Islamic law. The submitted thesis aims to find and analyse obstacles of implementing Islamic banking, resulting from its singularities, in the European and Czech legal framework. In the introduction, the author shortly describes theoretical principles of Islamic banking and ways in which contemporary practices of Islamic banks have deviated from these principles. The next part of the thesis lays out individual characteristics of Islamic banking. Using the examples of specific finance models (especially Murabaha and Musharaka financing), these features are assessed from the viewpoint of their compliance with legal regulation of banks and their activities. The process in which a bank provides financing to its clients by acquiring and disposing assets, which such financing applies to, is considered to be the most disputable element of Islamic...
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Performance of private MFIs and financial cooperatives
Neradová, Alena ; Van Damme, Patrick (advisor)
Developing countries have a long-term deal with a financial and economic instability in the current economic environment. Besides others, one of discussed solutions on that scheme is dedicated to microfinance where are evident efforts at delivering inclusive socio-economic development. Thus, the dissertation is focused on the analysis of the relative performance of private MFIs and financial cooperatives in Mediterranean region on selected socio-economic indicators, such as women's employment, education or level of material well-being. The impact of the offered products, such as credit and savings in the attempt to express what types of institutions are providing higher added value to clientele and in what intensity they change selected socio-economic indicator is also significant. Primary data of selected institutions will be inspected on the background of global data structured in the major regions of the world trying to understand the logics, risks and potentials of the development of the microfinance and cooperative sector and their intersections. The output will be a recommendation for the support of the microfinance and cooperative sector.
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Islamic banking
Němec, Jan ; Radová, Jarmila (advisor) ; Kalabis, Zbyněk (referee)
Bachelor thesis "Islamic banking" is focused on the introduction of the basic principles of Islam which govern the activities of Islamic banks. It also focuses on financial techniques and banking products that these banks use. The next section compares Islamic and conventional banking. The last part discusses a possible development of Islamic banking and its competitiveness.
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