Sudanees islamic banking experience by al siddig


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Sudanees islamic banking experience by al siddig

  1. 2. بسم الله الرحمن الرحيم
  2. 3. The international Conference on prospective of Islamic Banking and Finance in Afghanistan
  3. 4. <ul><li>The Sudanese Islamic Banking and Finance Experience </li></ul>
  4. 5. <ul><li>Prof. Al/Siddig Talha Mohamed Rahama The National Ribat University Sudan - Khartoum </li></ul>
  5. 6. <ul><li>Sudan is an African and Arab Country has roots in Islamic Ideology </li></ul>
  6. 7. <ul><li>Sudan is Pioneering in establishing Islamic Banks and Financial Institutions </li></ul>
  7. 8. <ul><li>Sudan is a biggest African and Arabian Country. </li></ul><ul><li>It ’ s Area about one million sq. miles </li></ul><ul><li>It ’ s pop Is about 40 million </li></ul>
  8. 9. <ul><li>Sudan is a large fertile agriculture land. </li></ul><ul><li>Sudan has huge economic potential. </li></ul>
  9. 10. <ul><li>The Sudan Cross different historical political development Islamic movement etc. </li></ul>
  10. 11. <ul><ul><li>Turkish </li></ul></ul><ul><ul><li>Islamic </li></ul></ul><ul><li>The coming of Arab </li></ul><ul><li>The Funj Islamic Sultanate </li></ul><ul><li>Turco – Egyptian Regime </li></ul><ul><li>The mahadist State </li></ul><ul><li>Anglo – Egyptian Condominium 1899-1955. </li></ul><ul><li>The Republic of Sudan 1956 </li></ul><ul><li>Army coup and military 1958-1964 </li></ul>
  11. 12. <ul><li>In 1977 Faisal Islamic Bank started by the a peal of Sudi Prince/ Mohamed Al Faisal Al Saud. </li></ul><ul><li>The new Islamic Bank Face by a rush to Subscribe to the issued shares – the Capital increase two times. </li></ul>
  12. 13. <ul><li>The bank expand its service horizontal and vertical. </li></ul><ul><li>The bank compete other traditional Banks. </li></ul><ul><li>FIB establish subsidiary compromise: </li></ul><ul><ul><li>Islamic Insurance Co. 1st . Is compant in the world. </li></ul></ul><ul><ul><li>Islamic Tr. & Ser Co. </li></ul></ul><ul><ul><li>Real State company. </li></ul></ul><ul><ul><li>Exchange company. </li></ul></ul>
  13. 14. <ul><li>The successful of F.I.B let 6 new Islamic banks Staui. </li></ul><ul><ul><li>Tadamon Islamic Bank. </li></ul></ul><ul><ul><li>The West Islamic Bank. </li></ul></ul><ul><ul><li>Al Braka Bank. </li></ul></ul><ul><ul><li>The North Islamic Bank. </li></ul></ul><ul><ul><li>Comparative development Islamic Bank. </li></ul></ul>
  14. 15. <ul><li>F.I.B establish Shariah Supervisory Board (S.S.B) to check all operation according to Islamic shariah, issue a lot of Fatwa training of the staff & add stander contact of the mode of investment. </li></ul>
  15. 16. <ul><li>The success of these Islamic Bank let the government to order to adopt Islamic bank widows. </li></ul><ul><li>The Sudanese Islamic Bank drawn a very large number & share – holders from Arab & Moslem world for the specialized bank: </li></ul><ul><ul><li>Agriculture. </li></ul></ul><ul><ul><li>Industry. </li></ul></ul><ul><ul><li>Real State </li></ul></ul>
  16. 17. <ul><li>Then weave many delegates from different Islamic country visit Sudan & study the experiment. </li></ul>
  17. 18. <ul><li>On Sep. 1983 the Sudan government issue judicial rules Act </li></ul><ul><ul><li>New Code of Civil Procedures. </li></ul></ul><ul><ul><li>New Code Traditional 1983. </li></ul></ul>
  18. 19. <ul><li>New circular from Bank of Sudan to directed all Sudanese Banks to Islamic mode. </li></ul><ul><li>Immediately shift to use Islamic mode of finance. </li></ul>
  19. 20. <ul><li>On 1989, full conversion of the banking system in the whole of the country to Islamic system. </li></ul><ul><li>Establishment of the High Shariah Board for the banking system and financial institutions belong the C.B. </li></ul><ul><li>Revision of all laws pertaining to banking through Islamic model. </li></ul>
  20. 21. <ul><li>Revision Bank of Sudan Act -1959. </li></ul><ul><li>The sale of mortgaged property Act 1990. </li></ul><ul><li>The Banking Business Regulation Act 1991. </li></ul>
  21. 22. <ul><li>Establish new institutions to support the Islamic Banking system </li></ul><ul><ul><li>Khartoum Exchange 1995. </li></ul></ul><ul><ul><li>Bank Deposit Security Fund 1986. </li></ul></ul><ul><ul><li>Sudan Financial Company 1998. </li></ul></ul>
  22. 23. <ul><li>A new comprehensive banking policy (1999 -2002). </li></ul>
  23. 24. <ul><li>Main Islamic Mode: </li></ul><ul><ul><li>Morabah. </li></ul></ul><ul><ul><li>Partnership (Musharaka). </li></ul></ul><ul><ul><li>Mudarabah. </li></ul></ul><ul><ul><li>Salam sale for agricultural production </li></ul></ul><ul><ul><li>Istisna. </li></ul></ul><ul><ul><li>Lease finance. </li></ul></ul>
  24. 25. <ul><li>Banking services: </li></ul><ul><ul><li>Current account service account only no interested role. </li></ul></ul><ul><ul><li>Saving account. </li></ul></ul><ul><ul><li>Investment account Morabah model. </li></ul></ul><ul><ul><li>Modaraba level: </li></ul></ul><ul><ul><li>Client  the Bank. </li></ul></ul><ul><ul><li>Labour  Capital </li></ul></ul>
  25. 26. <ul><li>Consortium of the commercial banks: </li></ul><ul><ul><li>To finance agriculture corporation according Islamic model. </li></ul></ul>
  26. 27. <ul><li>New Instrument for monetary policy: </li></ul><ul><ul><li>1. Central Bank Musharaka Certificate (CMC). </li></ul></ul><ul><ul><li>2. Government Musharaka Certificate (GMC). </li></ul></ul><ul><ul><li>3. Government Investment Certificate (SARAH). </li></ul></ul><ul><ul><li>No Treasuring Bills </li></ul></ul><ul><ul><li>No Central Bank Bonds. </li></ul></ul>
  27. 28. <ul><li>Takaful – Islamic Insurance: </li></ul><ul><li>The 1 st Islamic insurance compontion the World Started in Sudan – 1979. </li></ul><ul><li>Islamic Insurance = Co operative Insurance </li></ul>
  28. 29. <ul><li>Ministry of Finance (2004) established a new department for sukuk organization, the sukuk include: </li></ul><ul><ul><li>Salam sukuk. </li></ul></ul><ul><ul><li>Leasing sukuk. </li></ul></ul><ul><ul><li>Janah sukuk </li></ul></ul>
  29. 30. Thank You CENTER OF ISLAMIC BANKING & ECNOMICS Head Office:   192- Ahmad Block, New Garden Town , Lahore, Pakistan  Ph: +92-42-35913096-8, 35858990, 38407850  Fax: +92 -42-35913056 E-mail :  [email_address] Web: