Challenges For Islamic Banking Industry: The Kyrgyz Republic Experience

Year 2021, , 713 - 730, 24.06.2021

Abdurashid Zhoraev , Ali Yüksek

https://doi.org/10.17120/omuifd.901846

Cited By: 2

Abstract

Although the vast majority of people in Kyrgyzstan are Sunni Muslims, Islamic banking have only 1,5 % of the total market share of the bank sector. The National Bank of the Kyrgyz Republic (NBKR) is the main state regulator that is responsible for strategic actions regarding the introduction and development of the Islamic banking industry in the country. In 2017 NBKR issued a strategic document for the period 2018-2021 whereby, it was defined a targeted indicator for Islamic banking industry development: the share of Islamic banking should grow total Kyrgyz banking system assets to 5% by 2021 from the current 1.5 %. With this goal, the state regulator is perhaps acting prematurely because, despite the Muslim majority in the country and the fact that Kyrgyzstan was among the first in the post-Soviet territory to introduce Islamic banking in the early 2000s, it is still faced with a long list of tasks ahead that need to be overcome before it can achieve this target. In this research, the development and the experience of Islamic banking in Kyrgyzstan is briefly explained. The purpose of this paper is to outline the changes which have occurred thus far in the Kyrgyz Islamic banking industry as well as to identify the current challenges and propose solutions and recommendations.

Keywords

Islamic banking, Kyrgyzstan, challenges, Shari’ah supervision

İslami Bankacılık Sektörünün Zorlukları: Kırgız Cumhuriyeti Deneyimi

Abstract

Kırgızistan'da yaşayan insanların büyük çoğunluğu Sünni Müslümanlar olmasına rağmen, İslâmî bankacılık alanında, banka sektörünün toplam pazar payının yalnızca % 1,5'ine sahiptir. Kırgız Cumhuriyeti Merkez Bankası (NBKR), ülkede İslami bankacılık sektörünün tanıtılması ve geliştirilmesi ile ilgili stratejik eylemlerden sorumlu düzenleyicisidir. 2017 yılında NBKR, 2018-2021 dönemi için stratejik bir belge yayınladı ve burada İslami bankacılık sektörünün gelişimi için hedeflenen bir gösterge tanımlandı: İslami bankacılığın toplam Kırgız bankacılık sistemi varlıklarının payı, mevcut % 1,5'ten 2021 yılına kadar % 5'e çıkarılması gerekiyordu. Bu amaçla, Merkez bankası belki de vaktinden önce hareket ediyordur. Çünkü ülkedeki Müslüman çoğunluğa ve Kırgızistan'ın 2000'lerin başında İslami bankacılığı uygulamaya koyan ilk Sovyet etki alanlarından biri olmasına rağmen, hala bir hedefe ulaşamadı. İstenen duruma gelinmesi için yapılması gerekli olan bir çok faaliyetin var olduğu ifade edilebilir. Bu araştırmada Kırgızistan'da İslamî bankacılığın gelişimi ve deneyimi kısaca anlatılmaktadır. Bu makalenin amacı, Kırgız İslami bankacılık endüstrisinde şimdiye kadar meydana gelen değişikliklerin ana hatlarını çizmek, mevcut zorlukları belirlemek ve çözümler ve öneriler önermektir.

Keywords

İslâmî bankacılık, Kırgızistan, Zorluklar, Şerî Denetim

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