What is it about?
This paper aims to analyze the situation of the financial system in the Spanish-governed cities of Melilla and Ceuta, Christian and Muslim cities located on the north coast of Africa, and compared it with the mean bankarization level in the rest of Spain in 2000-2015.
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Why is it important?
The results obtained revealed that there are differences between these two North African Spanish cities. Furthermore, the financing gap between themean bankarization levels of these cities and those of mainland Spain was found to be even larger than most of the other economic indicators (GDP per capita and the unemployment rate). This is the first research study on the financial framework of European cities whose populations have an approximately equal percentage of Christians and Muslims. The data reflected the existence of savings and loan methods parallel to conventional banking. The conclusion was that in the near future, it would be advisable for European banks to take into account the cultural customs and religious practices of potential Muslim clients.
Perspectives
The authors are convinced that the manuscript is a contribution of great interest for serving pilot experience in cities wishing to offer a development of traditional banking and Islamic banking. The paper should be of interest to readers in the areas of finance systems and commercial banks where two different cultures coexist.
Miguel Angel Pérez-Castro
University of Granada
Read the Original
This page is a summary of: Bankarization in the first European cities with an equal number of Muslim and Christian inhabitants, International Journal of Islamic and Middle Eastern Finance and Management, November 2017, Emerald,
DOI: 10.1108/imefm-02-2017-0033.
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