THE COUNTERCYCLICAL POTENTIAL FORMATION FOR THE NATIONAL FINANCIAL SYSTEM: LESSONS FROM THE ISLAMIC BANKING
Journal Title: Вісник Одеського національного університету. Економіка. - Year 2017, Vol 22, Issue 4
Abstract
The article deals with the peculiarities of the Islamic banking. This system provided high enough level of immunity to the financial and economic crisis of 2008–2010 for state systems. It is proved that the activity of Islamic banks more corresponds to the principles of economic coordination mechanism formation on the basis of clusters, than the activity of traditional banks. It allows providing a high correlation between the financial and real sector of the economy, reaching a high level of social responsibility in the sphere of investment activity, dividing risks between the bank and its clients. The author discusses the role of Islamic banks in opposition to the “illusion of liquidity”. The possibility of Islamic banks experience usage for Ukrainian financial system is explained.
Authors and Affiliations
Iu. M. Leliuk
Keywords
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- EP ID EP551598
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