FEASIBILITY STUDY BAN PERCENT IN THE ISLAMIC FINANCIAL SYSTEM
Authors: Eugeniya Aleksandrovna Danchenko
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The main difference between Islamic banking is the prohibition of the surplus, which is defined as any unjustified capital gains when the loan or when the bargain. Most Islamic scholars refers to the concept of "surplus" is not only high, usurious, but any interest on loans. Interest of bankers to innovative traditional banks financial products is due not only need to attract customers with moral principles negatively related to speculative transactions, but also the fact that Islamic financial institutions significantly affected by the impact of the global financial crisis of 2007-2009. The aim of the study is to explore the concept of "interest" in the Islamic banking system and the role of interest in the sustainable functioning of Islamic banks in the global financial markets during the crisis. To achieve this goal have been resolved following tasks: formulated the basic concept of "interest"; an analysis of the credit process in Islamic and conventional banking systems; to analyze the effect of interest on the functioning of the economy. Based on the analysis of traffic patterns of cash in the traditional and Islamic banking systems identified the main factors of influence on the economy. Analysis of the Islamic finance model showed projects focus on the growth of production and improve the welfare of the population through interest-free financing trade. This orientation of Islamic banking products is a factor of stability of the banking system and the economy as a whole. It is concluded that the use of interest in the economy leads, firstly, to an unreasonable increase in the money supply, which in turn provokes a rise in inflation, and secondly, to increase the interest burden on the consumers of the goods, thereby reducing their consumption, third contributes to stagnation of production.