The operation of islamic banks on the basis of an EU example = Az iszlám bankok működése egy EU-s példa alapján

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József Varga Balázs Cseh

Abstract

The Al Rayan Bank (called IBB Bank until December 2014) was the first and greatest Islamic bank in the European Union before the Brexit. The Al Rayan Bank is a trade bank in Great Britain, functioning according to the principles of Islam, taking an eminent place among the Islamic financial institutions. The bank operating in Anglo-Saxon financial environment has shown such success to the world in recent years that can be an inspiration for investors of other Islamic financial institutions. The authors are doing the analysis of the balance structure of one of the most famous West-European Islamic banks. The authors analyzing the balance sheet of the Al Rayan Bank call attention to the necessity of the cooperation of conventional and Islamic banks due to the increasing similar claims of Muslims living in Europe by drawing conclusions. Besides these, they discuss the opportunities of cooperation as well. According to the authors, the Islamic banks and their institutions provide alternative opportunities in the regional financial system.

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