Studies on the institutional settings of the Islamic mode of financial intermediation and credit monitoring

2014 Fiscal Year Final Research Report

• Project/Area Number: 24530212
• Research Category: Grant-in-Aid for Scientific Research (C)
• Allocation Type: Multi-year Fund
• Section: 一般
• Research Field: Economic theory
• Research Institution: Ritsumeikan Asia Pacific University
• Principal Investigator: SUZUKI Yasushi 立命館アジア太平洋大学, 国際経営学部, 教授 (00350752)
• Research Collaborator: UDDIN Sohrab バングラデシュ・チッタゴン大学, 准教授 ; MIAH Md. Dulal オマーン・ニズワ大学, 准教授 ; SASTROSUWITO Suminto インドネシア, 大蔵省イスラム金融局, 局長 ; PRAMONO Sigit インドネシア, イスラム経済研究所, 教授
• Project Period (FY): 2012-04-01 – 2015-03-31
• Keywords: イスラム金融制度 / ガラール禁止原則 / イスラム銀行 / 金融セクターレント / バングラデシュ / インドネシア / グラミン銀行 / インフォーマル制度

Outline of Final Research Achievements

This research conducted a comparative study on institutional settings of the Grameen bank mode of microcredit and the Islamic mode of monitoring and financial intermediation in Bangladesh, pointing out the respective informal sanction mechanisms which may have contributed to limiting the cost of screening and monitoring in both of the two modes. This research also provided a theoretical framework for understanding the Islamic prohibition of Gharar (prohibition of contracting under conditions of excess uncertainty) from a Post-Keynesian perspective. Islamic banks in general are exposed to fundamental uncertainty compared to conventional banks, because Islamic banks' profit base is under the profit-loss sharing (PLS) agreement. This research proposed a new concept of "Islamic Bank Rent" to be captured by Islamic banks to compensate the peculiar risk and uncertainty to which they are exposed.

Free Research Field

比較金融制度論