PLMET:

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Alternative title:

The functioning of the banking system in Poland versus the modus operandi of Islamic microfinance entities

ORCID:

0000-0001-7240-5291

Subject and Keywords:

banking system   riba   gharar   microfinance entity   Financial Supervisory Commission

Description:

Tyt. zeszytu: Orient daleki i bliski = Orient far and near

Abstract:

The functioning of the banking system, in every country is essential, because it affects the economic development. Banking sector functioning in Poland should be considered stable, because it is supervised by the Financial Supervision Commission and the safety of deposits is ensured by the Bank Guarantee Fund. The lack of these institutions could lead to actions contrary to the principles of the broadly understood banking law. Poverty is a common phenomenon all over the world, including Islamic countries. In order to avoid its spread and limit financial exclusion, Islamic microfinance entities were created. But what is their mode of operation? The principles of operation of these entities have their basis in the Quran, the Holy Book of Islam. The main principles of these entities include riba, Gharar, and risk sharing. The principles of the Polish banking system and the Islamic financial system are different and result from different sources of law, and consequently the Polish banking system and Islamic financial entities have more differences than similarities.

Place of publishing:

Wrocław

Publisher:

Wydział Prawa, Administracji i Ekonomii Uniwersytetu Wrocławskiego

Date issued:

2020

Date copyrighted:

2020

Resource Type:

text

Detailed Type:

article

Format:

application/pdf

Identifier:

doi:10.34616/139087   ISSN 2080-332X   ISBN 978-83-65158-18-5

Language:

pol

Abstract Language :

eng

Relation:

Wrocławskie Studia Erazmiańskie. 2020, 14, s. 144-158

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Access rights:

The use of this material is allowed only with accordance of applicable rules of fair use or other exceptions provided by law, and any broader use requires the permission of the authorized entity

License:

Making materials available on the basis of the agreement with the owner of the property copyrights

Rights holder:

Copyright by Pracownia Badań Praw Orientalnych, Katedra Doktryn Politycznych i Prawnych Wydziału Prawa, Administracji i Ekonomii Uniwersytetu Wrocławskiego & Authors

Autor opisu:

WR U/PAdal