Reserving Mudarabah Deposits To Limit Credit Creation And Its Role On Lack Implementation Of Mudarabah In Islamic Banks

تجميد ودائع المضاربة للحد من توليد الائتمان ودوره في ضعف تطبيقها في المصارف الإسلامية

  • Ahmadou Diane PH.D Candidate
  • Ahmad Sufian Che Abdullah Senior Lecturer
  • Kamaruzaman Noordin Associate Professor
Keywords: Mudarabah, Deposits, Reserving, Credit, Justifications

Abstract

The study has focused on the possibility of an inverse relationship between limiting credit creation and Mudarabah. Therefore, it conducted interviews with academic and professional experts in Islamic finance in order to demonstrate that relationship, and its quality, as well as the objectivity of the merits of credit reserving with regard to Mudarabah’s deposits. The study has found that there is a direct relationship between limiting credit creation and the lack implementation of Mudarabah in Islamic banks in terms of reserving part of Mudarabah’s deposits and the failure of Islamic banks to benefit from the liquidity facilities provided on legal reserve by Central Bank in this aspect. The study also confirmed that the reasons of credit limitation posted on Mudarabah’s deposits are not objective, because Islamic banks have a limited ability to generate credit, and it is not relying broadly on receiving deposits from their clients or overdraft. In fact, most of their financing product are related to real economic activities, in the form of non-loan commodity. However, this function permits Mudarabah to limit credits creation in banking system, because all its products are converting money and credit into commodities. Furthermore, it also contributes to the activation of monetary policies sited by central bank. Finally, in sight of Shariah regulations, Islamic banks are not legally obliged to guarantee the funds arising from Mudarabah’s deposits except by committing violation or offence these funds by Islamic banks.

 

ملخص البحث

ركزت الدراسة على احتمالية بوجود علاقة عكسية بين الحد من توليد الائتمان والمضاربة، فقامت بإجراء مقابلات مع الخبراء الأكاديميين والمهنيين في التمويل الإسلامي لهدف إلى إثبات تلك العلاقة ونوعيتها ومدى موضوعية مبررات الحد من الائتمان بالنسبة للمضاربة. توصلت الدراسة إلى وجود علاقة مباشرة بين الحد من توليد الائتمان وضعف تطبيق المضاربة في المصارف الإسلامية من حيث تجميد جزء من ودائع المضاربة وعدم استفادة المصارف الإسلامية من خدمات البنك المركزي في الاحتياط القانوني. كما أثبتت الدراسة أن مبرات الحد من توليد الائتمان على المضاربة ليست موضوعية، لأن المصارف الإسلامية ذات مقدرة محدودة على التوليد الإئتماني، لعدم الاعتماد على سياسة القروض أو السحب على المكشوف، فمعظم عملياتها التمويلية ترتبط بنشاطات اقتصادية حقيقية، في شكل تمويل سلعي غير قرضي وهكذا تساهم المضاربة في الحد من توليد النقود، لأنها عبارة عن تحويل النقود إلى أعيان، كما تساهم في تفعيل الأدوات النقدية. ومن الناحية الشرعية فلا يوجد على المصارف الإسلامية إلزام شرعي بضمان هذه الأموال إلا بحصول التعدي أو التفريط لهذه الأموال من قبل المصارف الإسلامية.

Author Biographies

Ahmadou Diane, PH.D Candidate

Department of Syariah and Management, Academy of Islamic Studies, University of Malaya

Ahmad Sufian Che Abdullah, Senior Lecturer

Department of Syariah and Management, Academy of Islamic Studies, University of Malaya

Kamaruzaman Noordin, Associate Professor

Department of Syariah and Management, Academy of Islamic Studies, University of Malaya

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Published
2020-10-31
How to Cite
Diane, A., Che Abdullah, A. S., & Noordin, K. (2020). Reserving Mudarabah Deposits To Limit Credit Creation And Its Role On Lack Implementation Of Mudarabah In Islamic Banks . Al-Qanatir: International Journal of Islamic Studies, 20(2), 86-111. Retrieved from http://al-qanatir.com/index.php/aq/article/view/287
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Articles