الصورية في المنتجات المصرفية الإسلامية و علاقتها بالهيئات الشرعية : الواقع و المأمول

Abstract EN

Formalism of Islamic financial products and its relation to sharia boards:
Reality and expectations
Adnan Mohammed Rababaa
adnanr@yu.

edu.

jo
Zahira Ali Bani Amer
zahera_bnmr@yahoo.

com
Alaa Mahmoud tahsin
alaatahseen92@gmail.

com
This study aims to demonstrate the concept of formalism of Islamic banking products, and the relationship between the role of sharia supervisory boards in Islamic banks and formalism in banking products, it also tackles the expected role of these boards.

The study discusses the concept of simulation in general and its conditions, and the concept of simulation in banking products in particular.

The study shows that the concept of formalism in Islamic banking products means the existence of financial products with an Islamic title that simulates the same structure and philosophy of traditional financial products but involving some elements that make them sharia acceptable.

This study also shows that formalism is resulted from the failure of sharia supervisory boards that is emerged during two stages: one, while contract drafting and approving.

The second arises during sharia control and auditing.

The study recommends to allow for opportunities for innovations to develop Islamic banking products in the light of the rules of Sharia, as well as the development of the roles of Sharia boards in Islamic banks by allowing them to issue innovative Sharia banking products that compete its conventional counterparts.

Key words: formalism, Islamic financial products, Islamic banks, sharia supervisory boards.

* أستاذ مشارك ورئيس قسم الاقتصاد والمصارف الإسلامية، جامعة اليرموك.

** دكتوراة في الاقتصاد والمصارف الإسلامية، جامعة اليرموك.

*** ماجستير في الاقتصاد والمصارف الإسلامية، جامعة اليرموك.