УДК 94 Всеобщая история
Objective: to define the features of the cyclicality of the credit movement and the traditional model of the Islamic banking system, to carry out a comparative analysis of the results and to prove the necessity of developing effective methods of regulating the credit movement for banks in Ukraine. Methods: analysis and logic synthesis, analysis, synthesis, comparison and system analysis, grouping data, methods of theoretical knowledge. Results: Under the influence of the rapid development of financial globalization processes banks of almost all countries of the world admitted shortcomings in the organization of the credit activity: significantly reduced the requirements for determining the creditworthiness of borrowers, allowed uncontrolled credit expansion that led to the credit bubble and caused a devastating impact on the world’s overall development in 2008-2009. Enhancing the amplitude of the credit cycle has resulted in corresponding fluctuations in the economic cycle. Thus, the countries with the traditional model of the banking system underwent a greater financial loss than countries with an Islamic model. The research proved that in contrast to the traditional model of banking, fluctuations of the credit and economic cycles in Islamic countries are more proportionate and balanced. The proposed development provides an effective system of countercyclical regulation of the banking sector, by means of which rational management of the credit movement and processes of credit granting loans based on achieving an appropriate balance between the development of the real and financial sector that would minimize fluctuations in the credit cycle and contributed to the overall economic growth, would take place. Scientific novelty: based on comparative analysis the necessity of using the experience of Islamic banks in bank credit operations in Ukraine is proved and substantiated. Practical significance: the conducted research proves the necessity of developing and implementing new approaches of management of credit operations and credit risks in practical activities of banks in Ukraine, taking into account the cyclical economic development
credit, credit cycle, cyclicality, credit resources, traditional banking model, Islamic bank, credit expansion, financial globalization
1. Balteanu, I. Bank Crises and Sovereign Defaults: Exploring the Links, Mode of access: http://www.econ.unavarra.es/seminarios//120119%20Erce.pdf
2. Reinhart, С. The Twin Crises: The Causes of Banking and Balance-of-Payments Problems, 2009, Mode of access: http://www.economics. harvard.edu/f aculty/rogoff/files/Is_US_Different_RR_3.pdf
3. Laeven, L. What Drives Bank Competition? Some International Evidence, Journal of Money, Credit and Banking, 2012, 36(3), Mode of access: http://ideas.repec.org/p/wbk/wbrwps/ 3113.html
4. Chapra, M. The Global Financial Crisis: Can Islamic Finance help?, Mode of access: http://www.isdbforum.org/ presentationPapers/5-M_Umer_Chapra.pdf
5. Burakov, D.V. Upravleniye tsiklichnost’yu dvizheniya kredita (The management of the cyclicality of the credit movement) / Мoscow: Rusayns, 2015, 288 p
6. Kornyeyev, V.V. Islams’ka finansova model’: osoblyvosti rozvytku / Visnyk sotsial’no-ekonomichnykh doslidzhen’ (The Islamic financial model, features of development), Socio-Economic Research Bulletin, 2012, № 1(44)
7. Kuznyetsova, L.V. Andreyeva, YA.S. Zherdets’ka, L.V. Diyal’nist’ bankiv na kredytnomu rynku v umovakh asymetriyi informatsiyi (The activities of banks on the credit market in terms of asymmetric information), Odessa: ONEU, 2015, 289 p
8. Kuznyetsova, L.V. Kredytnyy menedzhment (Credit Management), Odessa: ORIPA NAPA, 2007, 332 p
9. International Bank for Reconstruction and Development, Mode of access: http://www.worldbank.org/
