الصيرفة الاسلامية في ظل الازمة المالية العالمية لعام 2008 : نماذج لمصارف اسلامية مختارة == Islamic banking under global financial crisis the year of 2008 Models of selective Islamic banks)
Author name:
اركان بدران صبر
Supervisor name:
نهاد عبد الكريم احمد العبيدي
Abstract:
The Islamic banking subject is one of the modern subjects in the financial and banking sciences, although it is not as well as for theology and jurisprudence. In spite of the fact that the emergence of this type of Banking sciences has been characterized by spontaneous and slow gradual in the last century, but today it has been characterized by rapid progress and comperhensive in the application and development of the tools, the increasing importance of Islamic banking have emerged by several factors, most important, widespread in both the Arabic Islamic and Western worlds, and increasing the attention to the Arabic Islamic thought and from it the islamic bankink economical thought . Islamic banking has aprivacy in banking work different from what it is in the otherbanking systems , and this Privacy Policy based on the basis and rules of Islamic jurisprudence from side of earning moneys and the mechanism to deal with these moneys and use different formulas of investment and funding as well as dealing with these funds is based on the participatory ways in the profit and loss. Due to the fact that Islamic banks work in a common economical environment beside the conventional banks, the issue of that Islamic banks affected by the crisis or risk of other banks is considerd to be expected under the globalized global economy. Accordingly, the judgment whether the Islamic banks have been affected by the global financial crisis in 2008 or not, may take several directions, including those linked to the dealing mechanism of Islamic banks with the funds have been got in the manner that make them avoid cases of financial distress, and including what associated with simulating investment and funding methods of conventional banks activities by moving away from the basis and principles of Islamic banking work in accordance with the rules of Islamic sharia.The importance of the study starts from knowing by which to deal with incomes and outlets of Islamic banking in the manner that preventing them from affected by financial instability situations caused by financial crises, as well as the risk degree reduction resulting from practicing banking activities in a common economical environment with other banking systems. The problem of the study lies in explaining the range of Islamic banks ability to respond to the global economy changes represented by financial instability conditions caused by the global financial crisis in 2008. The study started from a hypothesis that the global financial crisis of 2008 had limited .impact on Islamic banking, which reflects the ability of these banks to overcome such crises The study aims to shed light on the dealing mechanism under the Islamic banking system, through its effectiveness in overcoming the global financial crisis for the year 2008, as well as its effectiveness in using their funds in the manner which reduces the degree of risk resulting from financial instability In order to achieve the objective of the study and prove its hypothesis it has come out withthree chapters the first chapter took the study of theortical rooting of Islamic banking,while the second chapter interested in studying the conceptual framework and causal of the global financial crisis in 2008, while the third chapter has come out with analyzing the impact range of the global financial crisis in 2008 on Islamic banks , through a sample that consists of three Islamic banks are, Dubai Islamic Bank and the Bank of transactions Andenossia Islamic Bank and Al Baraka Turkish Islamic.The study concluded a set of conclusions, most important that the work of Islamic banking as well as the traditional banking system that based on dealing with interest, in one economical environment means the possibility of exposure of the Islamic banking system to some of the crises which the traditional banking system exposes to. As well as Islamic banks the sample of the study have been affected by global financial crisis of 2008 in a limited and indirect way, by turning the financial crisis to an economical crisis affected the real economy, due to the association of Islamic banks activity with the real economy more than it is with the financial economy. As well as the limited influence of the global financial crisis in 2008 on the Islamic banks, came as a result to the dealing mechanism of these banks with the sources of funds, though the deposits (investment and savings) treated on the basis of participation proprietory stocks in the profit and loss, so the Islamic banks have a characteristic of absorption of financial shocks resulting from financial crisis (which lead to a reduction in the nominal value of its assets) by the corresponding change in the nominal value of the liabilities (deposits and savings investment) and thus access to the financial stability automatically.The researcher proposed a set of recommendations, most important, function activation of the central bank as a last resort for lending, to the Islamic banks by entering the Central Bank in partnerships with Islamic banks suffering from liquidity crunch, and is not intended to achieve profits as it is to support the Islamic banks suffering from financial insolvency , as well as support its competitive position against other banks. The need to establish a financial market special for islamc banks and financial institutions its aim attracting the d excess liquidity in Islamic banks to invest in line with islamic Shariah laws, as well as providing the necessary liquidity to banks in times of scarcity of their liquidity, and therefore not possible to resort to traditional capital markets for investing or even requesting for funding which is not without the risk of resorting to it. And giving greater importance to the real investments by Islamic banks by focusing on these investments compared to financial investments, especially in times of financial crises,which allowing to maintain the levels of profits accruing to the bank and thus reduce the impact of the financial crisis on revenues of Islamic banks
