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美国金融学留学作业(4)

时间:2015-01-15 13:15来源:www.ukassignment.org 编辑:pesix0 点击:
Two other issues not restricted to Islamic Bank of Britain are also worth mentioning. First, because Islamic banking is still new and different. In the West, any Islamic bank will have to be very clea
 
Two other issues not restricted to Islamic Bank of Britain are also worth mentioning. First, because Islamic banking is still new and different. In the West, any Islamic bank will have to be very clear to their customers about the risks and nature of the products they are offering. Second, there are still unanswered questions over corporate governance in the Islamic banking model. The issue here is whether and how investment account holders can be sure that they are being treated fairly and insiders to the bank are not taking advantage of their confidential information at an appropriate time.
 
In all, it took 18 months to work through these and other tricky questions. According to Michael Hanlon, CEO of Islamic Bank of Britain .An incredibly constructive approach was taken by the regulator.. The FSA took full account of one of its Principles of Good Regulation namely to encourage diversity and innovation. But it is important to note that its necessary prudential requirements have been met and depositors have the same protection as in other banks. The flexibility, which the FSA found was very much within a common regulatory framework. Since it opened for business, Islamic Bank of Britain’s capital has been doubled through a successful IPO and it now has four branches. Looking ahead, people are asking whether this is the start of a trend, of more Islamic banks and insurance companies being authorized in the UK. The FSA have had current consultation from two or three firms from different parts of the world, but it is too soon to know the outcome. Major UK banks are entering the market. For example, Lloyds TSB has announced a Shariah compliant deposit account, HSBC is also providing Islamic banking services.
 
Apart from these banks, other financial institutions providing Islamic banking services in UK are Albaraka International Limited London. Albaraka Investment Company limited London, Al Rajhi Company for Islamic Investment Limited London and Islamic Finance House Public Limited Company London. (Financial Services Authority)
 
2.3在巴基斯坦的伊斯兰银行业-2.3 ISLAMIC BANKING IN PAKISTAN
 
The fact that the Islamic banking in Pakistan is witnessing strong growth and has emerged as a realistic substitute for providing financial services, has been demonstrated by various financial indicators for year 2010. During the past year, the prominent local and foreign banks have increased the number of branches offering Islamic banking services. Islamic banking has started 2010 on a very positive note. With the licensing of one more Islamic bank named Bank Islami Pakistan Limited, which will start its operation by the end of 2010. Up till the first quarter of 2010, the number of full-fledged Islamic banks increased to three. At the same time, the branch network of the existing Islamic banking participants has now increased to 54 as compared to 48 in December 2009. Both, the Islamic banks and the conventional banks operating through Islamic Banking Branches contributed towards this improved outreach. The Islamic Banking Branches of Bank Al Habib and Habib Bank
 
Limited started operations during this quarter, while Islamic Banking Branches of Soneri Bank had started operations on 31st December, 2009. Given the increase in branch network, the overall balance sheet footing of the Islamic Banking System (IBS) has registered growth, whereby the full-fledged Islamic banks continue to hold major portion of the asset base. The total assets now stand at Rs 50.2 billion after recording a growth of 13.6% from December 2009. As a result of this growth, the share of Islamic Banking System in the overall banking system has slightly increased to 1.6 percent in March 2010 from 1.5 percent in December 2009. 
 
A look at the sources and utilization of funds as detailed in above table it is clear that the deposits remained the most important source of funds. Whilst financing absorbed a major portion of these funds, the share of investments in the total asset portfolio remained very low containing the market risk of Islamic banks. On the other hand, the credit to deposit ratio of the overall Islamic banking system remained high, as more than 90% of the deposits were consumed by the financings. Product wise break-up of Islamic financings shows the predominance of Murabaha at 53% and Ijarah at 28% together they are at 81 percent of the total financings. Details of product wise all the Islamic financing can be seen in diagram below:
 
Figure 5.1 Product Wise Islamic Financing in Pakistan
Source: Quarterly performance review of banking system, March 2010
The future position for the Islamic banking system is pretty promising in the backdrop of increase in the number of Islamic banking participants, extension in the overall asset base, strengthening profitability indicators and controlled credit and market risk. Further, 34 branches have been allowed by State Bank of Pakistan to be opened as per Annual Branch Expansion Plan for the year 2010, which do not include new market players whose applications are under consideration. During the first quarter of 2010, Dubai Islamic Bank has been granted in principle approval to open an Islamic bank in Pakistan.
 
The preceding discussion makes it clear that Islamic banking in UK and Pakistan is not a negligible or just temporary phenomenon. Islamic banks are here to stay and there are signs that they will continue to grow and expand. Even if one does not subscribe to the Islamic injunction against the institution of interest, one may find in Islamic banking some innovative ideas which could add more variety to the existing financial network. It is sometimes suggested that Islamic banks are rather complacent. They tend to behave as though they had a captive market in the Muslim masses that will come to them on religious grounds. This complacency seems more prominent in countries with only one Islamic bank.
 
Many Muslims find it more convenient to deal with conventional banks and have no doubts about shifting their deposits between Islamic banks and conventional ones depending on which bank offers a better return. This might suggest a case for more Islamic banks in those countries as it would force the banks to be more innovative and competitive. Another solution would be to allow the conventional banks to undertake equity financing and/or to operate Islamic counters or windows, subject to strict compliance with the Shariah laws. It is perhaps not too wild a suggestion to recommend that there is a need for specialized Islamic financial institutions such as Mudaraba banks, Murabaha banks and Musharaka banks which would compete with one another to provide the best possible services.
 


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