Econonic and Finance Islamique الاقتصاد و المالية الاسلامية

COMPARISON OF ISLAMIC AND CONVENTIONAL FINANCE   A. Efficiency and Profitability The efficiency of Islamic banks tends to be comparable with that of conventional banks. Many argue that despite differences between the business models of conventional banks and Islamic institutions, at least for the period before the recent global recession, the efficiency of both banking systems was not significantly different (di Mauro et al., 2013). However, the story seems to have changed during the financial crisis. Recent studies show that the profitability of Islamic banks decreased more than for conventional banks during the crisis, mainly because of weaker risk management practices and financial crisis spillovers to the real economy (for example, Rashwan, 2012 and Hasan and Dridi, 2011). Although the international evidence suggests that both cost and profit efficiency of Islamic banks are on the rise, Islamic banks in advanced countries seem to be more efficient than tho...

WIFAK International BANK : La nouvelle banque, conforme aux dispositions de la Finance Islamique. WIFAK BANK est la nouvelle banque qui vient enrichir la sphère financière en tant qu’une banque universelle tunisienne opérant conformément aux dispositions de la Finance Islamique. Elle a annoncé officiellement le lancement de son activité commerciale le 28 avril 2017. WIFAK BANK propose à ses clients particuliers, entreprises et professionnels une panoplie diversifiée de services et produits bancaires modernes et innovants. Elle a opté pour la modernité en misant sur l’innovation en offrant en outre des produits et services bancaires conforme aux dispositions de la Finance Islamique tels que les comptes, le financement et les moyens de paiement nationaux et internationaux des services et des solutions Digitales inédites pour permettre à ses clients d’effectuer leurs opérations bancaires à distance, et ce d’une manière simple, instantanée et sécurisée. D’ailleurs ...

Instruments of Islamic Finance In Islamic finance PLS Financing Products PLS financing is closest to the spirit of Islamic finance. Compared with non-PLS financing, its core principles of equity and participation, as well as its strong link to real economic activities, help promote a more equitable distribution of income, leading to a more efficient allocation of resources. There are two types of PLS financing: musharakah and mudârabah. Musharakah        is a profit-and-loss sharing partnership and the most authentic form of Islamic financing.6 It is a contract of joint partnership where two or more partners provide capital to finance a project or own real estate or movable assets, either on a permanent or diminishing basis.7 Partners in musharakah have a right to take part in management; they seem to bear the greatest risk among all Islamic financing modes with the potential for earning the highest reward. However, whereas profits are distributed acco...

INTRODUCTION Islam ic finance has started to grow in international finance across the globe, with some concentration in few countries. Nearly 20 percent annual growth of Islamic finance in recent years seems to point to its resilience and broad appeal, partly owing to principles that govern Islamic financial activities, including equity, participation, and ownership. In theory, Islamic finance is resilient to shocks because of its emphasis on risk sharing, limits on excessive risk taking, and strong link to real activities. Empirical evidence on the stability of Islamic banks, however, is so far mixed. While these banks face similar risks as conventional banks do, they are also exposed to idiosyncratic risks, necessitating a tailoring of current risk management practices. The macroeconomic policy implications of the rapid expansion of Islamic finance are far reaching and need careful considerations. Islamic finance is growing within international finance. In its modern for...