Los productos bancarios "halal" llegan a España

viernes, abril 25, 2008

El Confidencial Digital: De todo el artículo quiero destacar lo siguiente:

La responsable del Instituto Halal recuerda que llevan trabajando en este asunto con BanCaja –entidad resultante del acuerdo entre Correos y el Deutsche Bank en España- durante “más de año y medio” y que, actualmente “siguen ello”, haciendo frente a los últimos obstáculos que encuentran para la puesta en marcha de este tipo de servicio bancario. No obstante, Arroyo se muestra optimista cuando asegura en declaraciones a ECD que “antes del verano seguro” que estarán disponibles en España este tipo de productos.

Las cajas de ahorros ofrecen un modelo jurídico más afín a la banca islámica que el que tienen los bancos. La alternativa que barajan en el Instituto Halal es la de reunir a un grupo de inversores y a una entidad financiera en concreto y lanzar una línea de negocio dedicada íntegramente a este sector. Cabe destacar que BanCorreo no ha sido la única entidad interesada en esta nueva línea de negocio.

La Caixa, Banesto o el Banco Santander también habrían mostrado su interés en determinados productos de banca islámica, generalmente en la cuenta de ahorros Halal (el primer producto bancario adaptado a la ley islámica: una cuenta corriente a interés cero que estará homologada por la Junta Islámica).

Y es que poderoso caballero es Don Dinero...


I'm translating this article for English-speaking readers:

The arrival at Spanish market of the Islamic banking way has already been given an arrival day. Before this summer, all the people who would like to hire Halal-guaranteed financial products, that is, those who respect the Sharia law's legal obligations in these matters, would be able to. The main characteristic of the Islamic banking rules is that it does not produce interests or ribaa, because this is forbidden in the Coran, as a form of usury.

It has been already confirmed to El Confidencial Digital by the director of the Halal Institute of the Islamic Council, Isabel Arroyo. It is a business which is already moving between €300,000 and 500,000 millions around the world.

The responsible of the Halal Institute remembers that they have been working in this business with BanCaja -the entity born after an agreement between Spanish Post Service and German Deutsche Bank in Spain- during more than "a year and a half" and that, nowadays, they are continuing with the negotiations, just confronting the last obstacles they are finding to inagurate this kind of banking services. Anyway, arroyo is optimistic and assures, in statements to ECD that "before this summer" this new type of products will be available in Spain.

The savings' banks offer a much similar juridical system to the Islamic banking system than the Western banking one. The alternative which the Halal Institute is considering is to unite several investors and a concrete financial entity and launch a business line entirely dedicated to this sector. We must underline that BanCorreo has not been the only interested entity in this new business line.

La CaiXa, Banesto o el Banco Santander have also shown their interest in some products of the Islamic banking system, generally the Halal savings account (the first banking product adapted to Islamic law: a current account with zero interests which will be homologued by the Islamic Council), according to the Director of the organization in charge of these certifications. Nevertheless, authorised sources from Santander have denied this statement: "we have not these products, nor we are going to have them". They warn: "these are rumours which are spread repeteadly over the years", because their offers are limited to products which fulfill the Spanish legislation: they do not offer any service directed to the believers of any religion in particular.

The Islamic banking system consists of an offer of financial services which fulfills the obligations of the Islamic law included in the Sharia, and which forbids, among other things, the usury and the charge of interests. The entities which are rule by this code, cannot charge interests on loans or give interests to the clients of bank accounts. But this does not mean the capital is not paid or the services are free. Arroyo says that considering the consumer, there is no comparative grievance", as there is only an agreement between the entity and the client, to respect the principles of the latter. "There is no need to be a Muslim", she adds.

The client or the investor does not receive any interest, but has a right to a percentage of the benefits and to take part in a possible loss. Islam recognises individual property and is not opposed to the compensation of the capital as a productive factor, or to give the proprietors a part of the generated added value. They don't have a right to a fixed percentage or, in other words, "money should be generated by other activity, not by other money", Arroyo adds.

For example, she explains: "we don't like the concept of overdraft as it is" in reference to loans, as it will imply the existence of interests. To make possible the existence of credit lines, Islamic banking system offers the Ijara, that is a form of leasing used as a substitute of the personal credits to consuming. For examplo, the bank buys a good with the compromise of renting it to a client, who will use it while at the same time, will pay a monthly rent to the bank, who is still the proprietor. When the period to pay it is ended, the good's property goes to the client.

Another equivalent to the personal credits is the murabaha. In this case, the bank buys a good with the compromise or reselling it to the client, who will pay the cost of the good, plus a benefit to the bank paid in several terms.