Islamic Banking 101: Turkish Banks in Germany
Nowadays, the Islamic Banking System is not only limited to Islamic countries, but has also increased in popularity in Western countries, especially in the United Kingdom and in the United States of America (cf. Schuster 2013, p. 3). Those countries have
- PDF / 266,782 Bytes
- 17 Pages / 476.22 x 680.315 pts Page_size
- 87 Downloads / 232 Views
20
Andree Elsner, Tobias Kleinert, and Helena Strebel-Nelson
Contents 20.1 20.2
Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 333 Islamic Banking 101 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 334 20.2.1 Derivations of Islamic Banking . . . . . . . . . . . . . . . . . . . . . . . . . . . 335 20.2.2 Prohibitions and Principles in Accordance with Ethical Conception of Life 336 20.2.3 Permitted Finance Instruments . . . . . . . . . . . . . . . . . . . . . . . . . . . . 337 20.3 Distinction to the Conventional Banking System . . . . . . . . . . . . . . . . . . . . . . . 338 20.3.1 Profit Maximization Vs. Wealth Maximization . . . . . . . . . . . . . . . . . . 338 20.3.2 Differences in Banking Operations . . . . . . . . . . . . . . . . . . . . . . . . . 338 20.4 Application of Islamic Banking by Turkish Banks . . . . . . . . . . . . . . . . . . . . . . 339 20.4.1 Islamic Banking in Turkey . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 340 20.4.2 Market Potential in Germany . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 340 20.5 Becoming Alive: Fragments of a Marketing Concept . . . . . . . . . . . . . . . . . . . . . 342 20.5.1 Product Policies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 342 20.5.2 Communication Policies (cf. and hereinafter Geilfuß 2009 , p. 26 et seqq and Alexander et al. 2010 , p. 10) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 344 20.5.3 Distribution Policies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 346 References . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 347
20.1
Introduction
Nowadays, the Islamic Banking System is not only limited to Islamic countries, but has also increased in popularity in Western countries, especially in the United Kingdom and A. Elsner () T. Kleinert H. Strebel-Nelson HRW University of Applied Sciences Mülheim, Germany e-mail: [email protected] H. Strebel-Nelson e-mail: [email protected] © Springer Fachmedien Wiesbaden GmbH 2018 F. Bakırcı et al. (eds.), German-Turkish Perspectives on IT and Innovation Management, FOM-Edition, https://doi.org/10.1007/978-3-658-16962-6_20
333
334
A. Elsner et al.
in the United States of America (cf. Schuster 2013, p. 3). Those countries have not only perceived the increasing trend, but also realized the potential of Islamic Banking and became one of the hotspots of Islamic Banking in the Western world (cf. Schuster 2013, p. 4; Karl 2012, p. 1 f.; Wentler 2012, p. 5; Geilfuß 2009, p. 1 f.). Besides that, Europe came more and more into the focus of Muslim people and thus grew up to an area with a considerable large Islamic population, especially Germany with more than 4 million Muslim inhabitants becoming increasingly important for the economic situation in Europe (cf. and hereinafter Geilfuß 2009, p. 2 et seqq; Chaboune and El-Mogaddedi 2008, p. 33; Zerth/Kiepe/M
Data Loading...
