Stepan V. Sember, Viktoria S. Stoika, Nelya E. Leheza, 73_01
Tuesday, 11 July 2017 00:08 | Author: Покотиленко Р.В. | 
Stepan V. Sember
PhD in Economics, Associate Professor, Zakatpattya Regional Centre for Socio-Economic Humanitarian Research of the NAS of Ukraine, director.
Address: 88017, Ukraine, Uzhgorod, 21 Universytetska Str, office 508.
Tel.: 38 031 264 34 36. E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it .
Viktoria S. Stoika
PhD in Economics, Associate Professor, Uzhhorod National University.
Address: 88017, Ukraine, Uzhgorod, 14a Universytetska Str, office 405.
Tel.: 38 066 535 92 12. E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it .
Nelya E. Leheza
Uzhhorod National University.
Address: 88017, Ukraine, Uzhgorod, 14a Universytetska Str, office 405.
Tel.: 38 066 535 92 12. E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it .
Islamic banks: specifics of their functioning and development
Section: Macroeconomic and regional problems of industrial development
Ekon. promisl. 2016, 73(1): 5-16
https://doi.org/
Language: Ukrainian
| Full text (PDF)
References
Vishnevskij, V., & Vishnevskaja, E. (2013). The growth of the Islamic economy in the world: institutional analysis. Teoreticheskaja ekonomika, 5, 27-37 [in Russian].
Miroshnik, E. (2014). Islamic banks in the socio-economic structure of Muslim countries. Retrieved from http://www.dissercat.com/content/islamskie-banki-v-sotsialno-ekonomicheskoi-strukture-musulmanskikh-stran#ixzz3OnAIN14s [in Russian].
Bajjram, U. (2013). Islamic banks: features, development prospects in Ukraine. Ekonomika Kryma, 2(43), 206-209 [in Russian].
Abdrakhmanova, G. (2009, June). Islamic banking and its development in Kazakhstan. In Nastojashhi postizhenijane Evropejjscata nauka (pp. 82-86). Sofia [in Russian].
Charon, S., Aziz, Z. (2012). Islamic finance and the banking system: philosophy, principles and practice. Kazan’: LINOVA-MEDIA [in Russian].
Pellegrini, M., & Grais, W. (2006). Corporate governance and Shariah compliance in institutions offering Islamic financial services. World Bank, Policy Research working paper No. WPS4054.
Pervez, I. (1990). Islamic Banking. Arab Law Quarterly, 5(4), 259-281 DOI: http://dx.doi.org/10.1163/157302590X00198.
Galickaja, O. (2014). How Islamic banks work. Retrieved from http://umma.ua/ru/article/article/Kak_rabotayut_islamskie_banki/1626 [in Russian].
Moskalenko, I. & Kremen’, V. (2012). Features of the activities of Islamic banks and their entry into the financial markets of European countries. Retrieved from http://dspace.uabs.edu.ua [in Ukrainian].
Milovzorov, A. (2012). Sharia economy will save the world from crises. Retrieved from http://www.utro.ru/articles/2012/06/27/1055471.shtml [in Russian].
Chuhajev, O. & Cherednychenko, A. (2011). Islamic banking and its financial instruments in the context of the concept of a potential model of the financial system. Ekonomichnyj chasopys - XXI, 3-4, 13-16 [in Ukrainian].
Dipcomment.com (2014). Will Islamic banking save the economy of Ukraine? Retrieved from http://www.dipcomment.com/expert.php?watch=338 [in Russian].
Islam.in.ua (2013). In Ukraine there is growing interest in Islamic financial institutions. Retrieved from http://islam.in.ua/ua/tochka-zoru/v-ukrayini-zrostaie-zacikavlenist-islamskimi-finansovimi-ustanovami [in Russian].
Islamic-finance (2010). Islamic banking: specifics and prospects. Islamic-finance: IBFD Fund. Retrieved from http://islamic-finance.ru/board/2-1-0-20 [in Russian].
Shamova, I. (2010). Features of Islamic Banking Operations. Finansy, oblik i audit, 15, 193-200 [in Ukrainian].
Sugonjako, O. (2012). ‘Chas vymagaje chukaty analog islamskogo bankingu u formi pravoslavnogo chy khrystyjans’kogo bankingu’. Retrieved from http://glavred.info/archive/2012/04/23/084609-2.html [in Ukrainian].
PhD in Economics, Associate Professor, Zakatpattya Regional Centre for Socio-Economic Humanitarian Research of the NAS of Ukraine, director.
Address: 88017, Ukraine, Uzhgorod, 21 Universytetska Str, office 508.
Tel.: 38 031 264 34 36. E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it .
Viktoria S. Stoika
PhD in Economics, Associate Professor, Uzhhorod National University.
Address: 88017, Ukraine, Uzhgorod, 14a Universytetska Str, office 405.
Tel.: 38 066 535 92 12. E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it .
Nelya E. Leheza
Uzhhorod National University.
Address: 88017, Ukraine, Uzhgorod, 14a Universytetska Str, office 405.
Tel.: 38 066 535 92 12. E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it .
Islamic banks: specifics of their functioning and development
Section: Macroeconomic and regional problems of industrial development
Ekon. promisl. 2016, 73(1): 5-16
https://doi.org/
Language: Ukrainian
Abstract: The specifics of the development and functioning of the Islamic banks have been examined in the article. The authors have researched the expansion geography and have defined the countries that are the leaders of the Islamic banking in the modern world financial system. The specifics of the Islamic banks development not only in the Middle East but also in the countries of the Asia Pacific region, Europe and the USA have been examined. There has been emphasized on the necessity of formation and specifics of functioning of the Islamic Development Bank as well as on the other organizations that deal with the standards of development of the Islamic banking in accordance with the Sharia demands. The development stages of the Islamic banks in the world financial system have been highlighted: genesis (VIII-XIII centuries), recovery attempt (the 60-s of the XX century), formation (the 70-s of the XX century), development (the 80-90-s of the XX century), business expansion and entrance to the financial markets of the non-Islamic countries (since 2000). The countries that are the leaders of the Islamic banking in the modern world have been defined: Iran, Saudi Arabia, the United Arab Emirates, Bahrain, Malaysia and Great Britain. The specifics of the functioning of the Islamic banks have been analyzed and their difference from traditional ones has been identified. Special attention has been paid to the main values of the Islamic banking and the basic interdictions in accordance with the Sharia laws. The main types of the Islamic banks operations have been examined. The authors have greatly emphasized on the social responsibility of the Islamic banks which is their characteristic feature. The special aspects of functioning of the Islamic banks that are known for their social activity have been analyzed, among which are Jordan Islamic Bank, Islami Bank Bangladesh, Social Investment Bank and Bank Muamalat Malaysia.
Keywords: Islamic banks; Islamic banking; Islamic bank system; Islamic financial instruments; Sharia laws; social responsibility; development; functioning
Keywords: Islamic banks; Islamic banking; Islamic bank system; Islamic financial instruments; Sharia laws; social responsibility; development; functioning
| Full text (PDF)
References
Vishnevskij, V., & Vishnevskaja, E. (2013). The growth of the Islamic economy in the world: institutional analysis. Teoreticheskaja ekonomika, 5, 27-37 [in Russian].
Miroshnik, E. (2014). Islamic banks in the socio-economic structure of Muslim countries. Retrieved from http://www.dissercat.com/content/islamskie-banki-v-sotsialno-ekonomicheskoi-strukture-musulmanskikh-stran#ixzz3OnAIN14s [in Russian].
Bajjram, U. (2013). Islamic banks: features, development prospects in Ukraine. Ekonomika Kryma, 2(43), 206-209 [in Russian].
Abdrakhmanova, G. (2009, June). Islamic banking and its development in Kazakhstan. In Nastojashhi postizhenijane Evropejjscata nauka (pp. 82-86). Sofia [in Russian].
Charon, S., Aziz, Z. (2012). Islamic finance and the banking system: philosophy, principles and practice. Kazan’: LINOVA-MEDIA [in Russian].
Pellegrini, M., & Grais, W. (2006). Corporate governance and Shariah compliance in institutions offering Islamic financial services. World Bank, Policy Research working paper No. WPS4054.
Pervez, I. (1990). Islamic Banking. Arab Law Quarterly, 5(4), 259-281 DOI: http://dx.doi.org/10.1163/157302590X00198.
Galickaja, O. (2014). How Islamic banks work. Retrieved from http://umma.ua/ru/article/article/Kak_rabotayut_islamskie_banki/1626 [in Russian].
Moskalenko, I. & Kremen’, V. (2012). Features of the activities of Islamic banks and their entry into the financial markets of European countries. Retrieved from http://dspace.uabs.edu.ua [in Ukrainian].
Milovzorov, A. (2012). Sharia economy will save the world from crises. Retrieved from http://www.utro.ru/articles/2012/06/27/1055471.shtml [in Russian].
Chuhajev, O. & Cherednychenko, A. (2011). Islamic banking and its financial instruments in the context of the concept of a potential model of the financial system. Ekonomichnyj chasopys - XXI, 3-4, 13-16 [in Ukrainian].
Dipcomment.com (2014). Will Islamic banking save the economy of Ukraine? Retrieved from http://www.dipcomment.com/expert.php?watch=338 [in Russian].
Islam.in.ua (2013). In Ukraine there is growing interest in Islamic financial institutions. Retrieved from http://islam.in.ua/ua/tochka-zoru/v-ukrayini-zrostaie-zacikavlenist-islamskimi-finansovimi-ustanovami [in Russian].
Islamic-finance (2010). Islamic banking: specifics and prospects. Islamic-finance: IBFD Fund. Retrieved from http://islamic-finance.ru/board/2-1-0-20 [in Russian].
Shamova, I. (2010). Features of Islamic Banking Operations. Finansy, oblik i audit, 15, 193-200 [in Ukrainian].
Sugonjako, O. (2012). ‘Chas vymagaje chukaty analog islamskogo bankingu u formi pravoslavnogo chy khrystyjans’kogo bankingu’. Retrieved from http://glavred.info/archive/2012/04/23/084609-2.html [in Ukrainian].
