ANALISI DELLA FINANZA ISLAMICA ATTRAVERSO LE BANCHE DI PARTECIPAZIONE - IL CASO DI KUVEYT TURK

In the last decades, with the aim to both serve the needs of Muslim communities and to take advantage of the profits that Islamic institutions generate, Islamic finance has been spreading around the world. Even if the dissemination of such unconventional finance has taken place in most countries, the knowledge about it is often simply limited to the idea of prohibition of interest. Therefore, this work has come to life as a personal desire to discover a phenomenon that although diffused around the world is still not fully well-known and understood. In furtherance of this aim, the paper tries to add to the literature by empirically analyzing the services that Islamic Finance offers and to reach such goal, a study on the Turkish Islamic bank Kuveyt Türk is made. The first chapter will introduce the principles underlying the Islamic economy and finance, also providing an excursus on its origin, sources and principles governing its functioning. The paper then, in the second chapter, in order to lay out the fundamentals for the empirical analysis on Kuveyt Türk, examines Participation banks in Turkey ¿ their history and the governing bodies regulating them. To this follows the third chapter that focuses on the marketing analysis; firstly, the general banking sector in Turkey is examined and afterwards the analysis focuses on participation banking, their potential and latest financial results. Lastly, the study concentrates on the specific example of Kuveyt Türk and, by going through its services, the practical instruments of Islamic Finance are stresses out and a clearer vision of how this industry actually works is given.