1 option
Cooperative and Islamic Banks : What can they Learn from Each Other? / Saeed Al-Muharrami, Daniel Hardy.
- Format:
- Book
- Government document
- Author/Creator:
- Al-Muharrami, Saeed.
- Series:
- IMF Working Papers; Working Paper ; No. 2013/184
- IMF Working Papers
- Language:
- English
- Subjects (All):
- Banks and banking, Cooperative.
- Banks and banking--Religious aspects--Islam.
- Banks and banking.
- Physical Description:
- 1 online resource (32 p.)
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2013.
- Language Note:
- English
- Summary:
- Islamic and cooperative banks such as credit unions are broadly similar in that they both share some risk with savers. However, risk sharing goes along with ownership control in cooperatives, whilst Islamic banks share risk with borrowers and downside risk with depositors. Islamic banking is consistent with mutual ownership, which may ease some of the governance and efficiency concerns implied by Shari’ah constraints. Greater risk sharing among cooperative bank stakeholders, using mechanisms embedded in Islamic financial products, may strengthen cooperatives’ financial resilience.
- Contents:
- Cover; Contents; I. Introduction; II. Characteristics; A. Cooperative Banks and Credit Unions; Tables; 1. Cooperative Banks: Financial Statistics for European Union, Canada, and Japan; 2. Credit Unions: Worldwide Membership Statistics; 3. Credit Unions: Worldwide Financial Statistics; B. Islamic Banks; Boxes; Box 1. Shari'ah-Compliant Financial Contracts; Figures; 1. Growth of Sukuk Issuance; 2. Composition of MENA Region Islamic Banks' Customer Accounts; 3. Composition of Islamic Banks' Investments; III. Similarities and Differences
- 4. Payoff for Depositors and Shareholders of Three Types of Financial Institution5. Payoff for Depositors and Shareholders with Retained Earnings and Profit Equalization; IV. What Each Can Learn from the Other?; Box 2. WOCCU's Project for Islamic Credit Unions; V. Conclusion; References
- Notes:
- Description based upon print version of record.
- Includes bibliographical references.
- Description based on online resource; title from PDF title page (ebrary, viewed November 7, 2013).
- ISBN:
- 9781484357194
- 1484357191
- 9781484318683
- 1484318684
- 9781484394250
- 1484394259
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.