EVALUATION OF JURISPRUDENTIAL POSSIBILITY OF CREATING AN INTER-BANK MARKET IN ISLAMIC BANKING

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MUSAVIAN SEYEDABBAS; MEHDI ELAHI

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Journal: EGHTESAD-E ISLAMI Year:2010 | Volume:10 | Issue:38 Page(s): 89-118

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Information Journal Paper

Title

EVALUATION OF JURISPRUDENTIAL POSSIBILITY OF CREATING AN INTER-BANK MARKET IN ISLAMIC BANKING

Author(s)

MUSAVIAN SEYEDABBAS | MEHDI ELAHI | Issue Writer Certificate

Keywords

INTEREST-FREE BANKINGQ3

INTERBANK MARKETQ2

MUTUAL INVESTMENTQ3

DISCOUNTING OF LOANSQ2

ISLAMIC TREASURY CERTIFICATESQ3

INTERBANK FUNDQ3

Abstract

Today all banks have long term development and growth targets, in order to achieve which, they chalk out plans. However, in the short run they face various risks, in particular liquidity risk, which if not managed properly, damage the performance and credibility of the bank. INTERBANK MARKETs have a determining role in management of liquidity risk of individual banks and safety of banking system.Creation of an INTERBANK MARKET depends upon the existence of financial instruments and most of the INTERBANK MARKET instruments are made up of interestbased loans. Therefore, there are doubts with regards to development of an efficient INTERBANK MARKET in Islamic Banking system. While on the other hand, development of the banking system, establishment of private banks and privatization of some of the governmental banks, has necessitated the problem of management of liquidity and designing an INTERBANK MARKET for Iran’s banking system.Along with a jurisprudential analysis of interbank instruments in traditional banking and experience of some of the leading Islamic banks and banks of the INTEREST-FREE BANKING in Iran, and suggesting new instruments to be used in interbank transactions, this article strives to introduce a rather comprehensive market for Islamic banking system. The results achieved show that Islamic INTERBANK MARKET, in addition to strengthening MUTUAL INVESTMENT instruments, which are currently in limited use, can use other more efficient instruments to organize the market, instruments such as: discounting of interbank loans, buying and selling of ISLAMIC TREASURY CERTIFICATES, creation of a fund with deposit certificates, participation bonds and other Islamic securities (Sukuk).

Cites

COMMODITY MURABAHAH: APPROPRIATE TOOLS FOR INTERBANK MARKET IN ISLAMIC BANKING

References

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APA: Copy

MUSAVIAN, SEYEDABBAS, & MEHDI, ELAHI. (2010). EVALUATION OF JURISPRUDENTIAL POSSIBILITY OF CREATING AN INTER-BANK MARKET IN ISLAMIC BANKING. EGHTESAD-E ISLAMI, 10(38), 89-118. SID. https://sid.ir/paper/99714/en

Vancouver: Copy

MUSAVIAN SEYEDABBAS, MEHDI ELAHI. EVALUATION OF JURISPRUDENTIAL POSSIBILITY OF CREATING AN INTER-BANK MARKET IN ISLAMIC BANKING. EGHTESAD-E ISLAMI[Internet]. 2010;10(38):89-118. Available from: https://sid.ir/paper/99714/en

IEEE: Copy

SEYEDABBAS MUSAVIAN, and ELAHI MEHDI, “EVALUATION OF JURISPRUDENTIAL POSSIBILITY OF CREATING AN INTER-BANK MARKET IN ISLAMIC BANKING,” EGHTESAD-E ISLAMI, vol. 10, no. 38, pp. 89–118, 2010, [Online]. Available: https://sid.ir/paper/99714/en

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