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|Other Titles:||Framework for Banking Systems and the Position of Islamic Banking in the UAE|
|Author's alias:||Kawamura, Ai|
|Journal title:||Kyoto Working Papers on Area Studies: G-COE Series|
|Abstract:||The aim of this paper is to describe the formation of Islamic banks and analyze the banking system in the United Arab Emirates (UAE). The paper will mainly focus on the provisions and the governing system in the UAE. The UAE is now one of the major financial centers in the Gulf countries, which are located in the southern part of the Arabian Gulf and are members of the Gulf Cooperation Council of the Arab States (GCC). The Members include the following six countries, Bahrain, Kuwait, Saudi Arabia, Oman, Qatar, and the UAE. In the UAE, Islamic finance has been in place since 1975, and recently this industry has begun growing rapidly. Two aspects constitute the nature of Islamic Banks; they are based on the model of modern finance as well as represent Islamic, Sharī'a-based institutions. At the same time, the formation of Islamic banking is complex, as the general financial system in the UAE had been dominated by the conventional, non-Islamic system. Therefore, the second chapter will discuss the legislation for the general financial system of the UAE. Here, we will analyze how the Central Bank of UAE deals with the financial institutions and governs banks. In addition, we will discuss the other legislations that legalize banking transactions. In the third chapter, this paper will deal how Islamic banks are governed in the UAE law by analyzing the special law legislating Islamic finance. In the last chapter, the paper will analyze the position of Islamic banking in the UAE banking system.|
|Rights:||© 2012 京都大学東南アジア研究所|
|Appears in Collections:||GCOEワーキングペーパー|
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