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Municipality of Herceg-Novi , Herceg-Novi , Montenegro
This paper's subject of research is the possibility of introducing new form of banking trade and innovative banking services and products. The changes in perception of the bank role within society and change in trading focus, from speculation and „betting“ to authentic needs of man and for the man, pulling out of the shadows the forgotten Christian thoughts on economics. The term Christian economics is not new, but Christian Orthodox banks do not exist in our financial system, not even as a term. The goal of this research is to prove that there is a possibility of founding Christian banks, that can successfully operate based on Islamic banks model. There is a functional, religiously regulated banking in Islam. This acknowledged model and experience of the Islamic bank are excellent starting point not only for setting the principles of work but also for defining banking products and services. The bank conceived in this manner, applies conventional and Islamic bank's positive practice and work experience, thus merging them into a unique shape characteristic of the Christian Orthodox faith. Since the operating of the bank does not depend on economic reality of a country, in this paper I have set some universal foundations on which a bank should lay, using general methods and techniques of scientific research. The conclusion is that the business model of the bank is a morally and ethically driven universal bank, with the role of an investor and trader, whose goal is not only profitable operating but an overall socio-economic progress of the society. This proactive, market-oriented bank, can operate in accordance with existing Law on banks and, as a qualitative alternative to conventional banks, with its partnership and risk-sharing model, can contrubute to further stability increase of the financial sector and at the same time increasing the efficiency and productivity of the real sector.
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