Pregled bibliografske jedinice broj: 883124
Comparative Analysis of Conventional and Islamic Banking : Importance of Market Regulation
Comparative Analysis of Conventional and Islamic Banking : Importance of Market Regulation // Ekonomska misao i praksa : časopis Sveučilista u Dubrovniku, 26 (2017), 1; 241-263 (podatak o recenziji nije dostupan, članak, znanstveni)
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Naslov
Comparative Analysis of Conventional and Islamic Banking : Importance of Market Regulation
Autori
Cerović, Ljerka ; Suljić Nikolaj, Stella ; Maradin, Dario
Izvornik
Ekonomska misao i praksa : časopis Sveučilista u Dubrovniku (1330-1039) 26
(2017), 1;
241-263
Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni
Ključne riječi
Conventional vs Islamic banks, financial crisis, regulations, efficiency, stability
Sažetak
Unlike conventional banks, whose main goal is maximizing profit based on loans, Islamic banks comply with the Islamic law (Shariah), which strictly prohibits the use of interest. Because of this is precise characteristic of Islamic banks, many were skeptical when the first Islamic banks were established, considering that interest-free banking can’t survive. Despite this skepticism, Islamic banks are one of the fastest growing financial industries. Interest-free banking doesn’t mean banking without profit, but a more stable and secure ethical alternative, because instead of interest, Islamic banks receive fees and commissions for their services, participate in a profit(loss)-sharing with their clients and they are protected with contracts. The purpose of this paper is to identify and analyze the similarities and differences between conventional and Islamic banks and draw conclusions about the stability and efficiency of conventional and Islamic banks before, during and after the crisis. In obtaining these results, special attention was given to the phenomenon of the banking sector regulation, highlighting the advantages of regulation over Adam Smith̕̕ s "invisible hand" as one of the key reasons for the last economic crisis. From the example of conventional and Islamic banks, it becomes clear that any regulation policy needs to be carefully adapted to the specific conditions of individual industries, and that the same basic principles and uniform legal solutions for all market participants will not achieve desired results, as pointed out by the Nobel laureate, Jean Tirole.
Izvorni jezik
Engleski
Znanstvena područja
Ekonomija
Napomena
Ovo istraživanje je sufinanciralo Sveučilište u Rijeci u okviru projekata: 13.02.1.2.02 (voditelj prof.dr.sc. H.Blažić) te 13.02.1.2.09 (voditelj prof.dr.sc. M.Dimitrić). Rad je kao predavanje prezentiran na skupu 1st International Conference Smart Ideas and a New Concept of Economic Regeneration in Europe, održanom od 28.09.-1.10.2016..g., Dubrovnik, Hrvatska, u organizaciji University of Dubrovnik, Department of Economics and Business Economics.
POVEZANOST RADA
Ustanove:
Ekonomski fakultet, Rijeka
Citiraj ovu publikaciju:
Časopis indeksira:
- Web of Science Core Collection (WoSCC)
- Emerging Sources Citation Index (ESCI)
- EconLit
Uključenost u ostale bibliografske baze podataka::
- EconLit
- Journal of Economic Literature
- DOAJ
- CAB
- Hrčak
- ProQuest, EconBiz
- ROAD, ZBW