Since 2014
Non-Usury Banking Fits the Change Strategy: The Solution to Revive the Economy
American Economic & Social Review
View Archive Info| Field | Value | |
| Title |
Non-Usury Banking Fits the Change Strategy: The Solution to Revive the Economy
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| Creator |
Bidabad, Bijan
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| Description |
Based on the working in different fields of sciences for a long time, a solution to change the structure of banking products as a solution to economic crises is proposed. By sharing the risks economically this solution can make economic integrity among all economic sectors.In this paper, we are going to introduce a new Islamic financial institution with elaborated economic and financial characteristics. «Non-Usury Bank Corporation» (NUBankCo) is defined in a way that depositors are the shareholders of the Bank. This corporation is a new kind of shared ownership corporation, which its shareholders are deposit holders and their deposits work as corporation’s equities. The defined bank can perform non-usury operations, and by designing a behavioral model, it is shown that NUBankCo can draw an environment that the welfare of society is to be maximized. Mobility of deposit resources in NUBankCo is less than conventional banks, and there are fewer conflicts between large and small shareholders/depositors and limits the emergence of shareholders’ cartels and thus huge sudden outflow of funds which creates bankruptcy crises.
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| Publisher |
Centre for Research on Islamic Banking & Finance and Business
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| Date |
2019-06-01
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion |
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| Format |
application/pdf
text/xml text/html application/octet-stream |
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| Identifier |
https://www.cribfb.com/journal/index.php/aesr/article/view/283
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| Source |
American Economic & Social Review; Vol 5 No 1 (2019); 49-61
2576-1277 2576-1269 |
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| Language |
eng
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| Relation |
https://www.cribfb.com/journal/index.php/aesr/article/view/283/421
https://www.cribfb.com/journal/index.php/aesr/article/view/283/422 https://www.cribfb.com/journal/index.php/aesr/article/view/283/423 https://www.cribfb.com/journal/index.php/aesr/article/view/283/424 |
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| Rights |
Copyright (c) 2019 Bijan Bidabad
http://creativecommons.org/licenses/by/4.0 |
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