[ Etude comparative du coût de crédit entre la finance islamique et la finance conventionnelle dans le contexte marocain ]
Volume 20, Issue 1, January 2016, Pages 90–102
N. HANY1, Y. REGRAGUI2, and Y. AL MERIOUH3
1 Université Nice - Sophia Antipolis, Groupe de Recherche en Management, IAE de Nice, France
2 Université Abdelmalek Essaâdi, Groupe de Recherche en Management et Systèmes d'information, ENCG de Tanger, Maroc
3 Université Abdelmalek Essaâdi, Groupe de Recherche en Management et Systèmes d'information, ENCG de Tanger, Maroc
Original language: French
Copyright © 2016 ISSR Journals. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Islamic finance has grown considerably over the past three decades. If Muslim countries formed the starting point, the rest of the world, especially Western countries, do not stay away from the development of Islamic finance. Many western countries have modified their national legislation in order to benefit from the strong growth of this segment of finance.
Islamic finance has always shown huge interest for Morocco. Since the early 1980s, several Islamic financial institutions have always been approaching the Moroccan monetary authorities in the perspective of implantation in the Kingdom. A study in 2012 by the IFAAS, 94% of Moroccans interviewed showed interest for financial products that comply with Sharia. Finally, the 103-12 law on credit institutions and similar organizations, which has just been published in the Official Journal in 2015 to be enforced, opens the floodgates of Islamic finance on Moroccan banks.
Starting with simple financing modes, the interest of this paper is to make a comparison between the cost of Islamic finance and conventional finance in the case of mortgage credit (Moroccan context) given that volume of Islamic finance business remains moderate so far, despite a sluggish start in 2007 with the launch of three Islamic products (Musharaka, Ijara and Murabaha) under the patronage of alternative products.
Author Keywords: Mortgage, Islamic banking, alternative products, Islamic principles, funding method.
Volume 20, Issue 1, January 2016, Pages 90–102
N. HANY1, Y. REGRAGUI2, and Y. AL MERIOUH3
1 Université Nice - Sophia Antipolis, Groupe de Recherche en Management, IAE de Nice, France
2 Université Abdelmalek Essaâdi, Groupe de Recherche en Management et Systèmes d'information, ENCG de Tanger, Maroc
3 Université Abdelmalek Essaâdi, Groupe de Recherche en Management et Systèmes d'information, ENCG de Tanger, Maroc
Original language: French
Copyright © 2016 ISSR Journals. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Abstract
Islamic finance has grown considerably over the past three decades. If Muslim countries formed the starting point, the rest of the world, especially Western countries, do not stay away from the development of Islamic finance. Many western countries have modified their national legislation in order to benefit from the strong growth of this segment of finance.
Islamic finance has always shown huge interest for Morocco. Since the early 1980s, several Islamic financial institutions have always been approaching the Moroccan monetary authorities in the perspective of implantation in the Kingdom. A study in 2012 by the IFAAS, 94% of Moroccans interviewed showed interest for financial products that comply with Sharia. Finally, the 103-12 law on credit institutions and similar organizations, which has just been published in the Official Journal in 2015 to be enforced, opens the floodgates of Islamic finance on Moroccan banks.
Starting with simple financing modes, the interest of this paper is to make a comparison between the cost of Islamic finance and conventional finance in the case of mortgage credit (Moroccan context) given that volume of Islamic finance business remains moderate so far, despite a sluggish start in 2007 with the launch of three Islamic products (Musharaka, Ijara and Murabaha) under the patronage of alternative products.
Author Keywords: Mortgage, Islamic banking, alternative products, Islamic principles, funding method.
Abstract: (french)
La finance islamique a connu un essor considérable au cours des trois dernières décennies. Si les pays musulmans ont constitué son point de départ et de développement, le reste du monde, les pays occidentaux particulièrement, ne sont pas restés à l'écart de l'essor de la finance islamique. Ainsi, plusieurs pays occidentaux ont modifié leurs législations nationales afin de tirer profit de la forte croissance de ce segment de la finance
La finance islamique a toujours manifesté de l'intérêt pour le Maroc. Depuis le début des années 1980, plusieurs institutions financières islamiques ont approché les autorités monétaires marocaines dans la perspective d'une implantation dans le royaume. Selon une étude réalisée en 2012 par l'IFAAS (Islamic Finance Advisory & Assurance Services), 94 % des Marocains interrogés ont montré leur intérêt pour des produits financiers conformes à la Chariâa. Enfin, la loi 103-12 sur les établissements de crédits et organismes assimilés, qui vient d'être publiée en 2015 au Bulletin officiel et donc d'entrer en vigueur, ouvre les vannes de la finance islamique sur les établissements bancaires marocains.
Partant de modes de financement simples, l'intérêt de cet article est de procéder à une comparaison entre le coût de la finance islamique à celui de la finance classique dans le cas de crédit hypothécaire dans le contexte marocain sachant que le volume d'affaires de la finance islamique reste modérée jusqu'à présent malgré une timide ouverture en 2007 avec le lancement de trois produits islamiques (Musharaka, Ijara et Mourabaha) sous le vocable de produits alternatifs.
Author Keywords: Crédit hypothécaire, banques islamiques, produits alternatifs, principes islamiques, mode de financement.
How to Cite this Article
N. HANY, Y. REGRAGUI, and Y. AL MERIOUH, “Comparative study of credit cost between Islamic finance and conventional finance in the Moroccan context,” International Journal of Innovation and Scientific Research, vol. 20, no. 1, pp. 90–102, January 2016.
