The Internationalization of Islamic Banking and Finance: The Co-Evolution of Institutional Changes and Financial Services Integration

Durán, Juan José; García-López, Maria-José

doi:10.5539/ijbm.v7n13p49

Cited by 10 publications

(7 citation statements)

References 22 publications

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“…Islamic banks are also not allowed to invest in activities, which are considered haram (illegal). Thus they are not supposed to lend to companies or individuals involved in industries as those related to pork products, pornography or alcoholic beverages (Duràn & Garcia Lòpez, 2012). This principle is especially important for the clients of Islamic investment banks.…”

Section: Principles Of Islamic Bankingmentioning

confidence: 99%

Islamic Banking in the European Union Countries

Sobol

2015

EurInsStud

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In the 1970s of the 20 th century Islamic fi nancial system, based on religious principles started to emerge in Muslim countries. Among all the Islamic fi nancial institutions, banks emerged at the earliest. The reasons why they were established across the Muslim world were connected with the neo-revivalist movements among Muslim societies on one hand and the raising wealth of some Middle East countries on the other. One of the most infl uential movements was the Muslim Brotherhood, established in Al-Ismailijja (Egypt) in 1928 by Hasan al-Banna. The Muslim Brotherhood criticised interest-based fi nancial system in Egypt and other parts of the Muslim world and argued that since Islam provides its followers with a comprehensive ideological framework for all aspects of life, economic aff airs should be also included within that framework (Saeed, 1996). The opinions of Muslim Brotherhood and other Muslim movements found followers in the academic world as well as among market practitioners. But if it were not the wealth of the Gulf states, which was the result of oil crisis and the enormous increases in the oil prices, the development of Islamic fi nance probably would have been much slower. Almost all the Islamic banks that were established in the 1970s were partly or even totally funded by oil-linked wealth. Since then, IWONA SOBOL Dr.

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Section: Principles Of Islamic Bankingmentioning

confidence: 99%

Islamic Banking in the European Union Countries

Sobol

2015

EurInsStud

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“…Later on number of Islamic banks was established in Malaysia between periods of 1960s to 1970s, as [1] . Islamic banks introduced themselves as an alternative to conventional interest-based bank and is broadening speedily throughout the last two decades within both Muslim and non-Muslim countries, as [2]. Islamic banks and conventional banks similar in terms of intermediation between depositors and investors and they are also profit-maximizing entities playing important role in Muslim nations serving the need of customers there.…”

Section: Introductionmentioning

confidence: 99%

A comparison Study on The Profitability and its Determinants between Islamic and Conventional Banks Listed in Qatar Exchange (QE) Pre, During, and Post 2008 Global Financial Crisis

Lotfy¹,

Eltabakh²,

Siad³

2014

International Conference on Business, Law and Corporate Social Responsibility (ICBLCSR'14) Oct 1-2, 2014 Phuket (Thailand)

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the objectives of this study are to find the determinants of the profitability of Islamic and conventional banks listed in Qatar Exchange (QE) and investigate whether a significant difference between the two kinds of banks is existed. To achieve the research objectives, the researcher has collected the data from Bloomberg database and Central Bank of Qatar. These data have been analyzed by using Statistical Analysis Software (SAS). Descriptive statistics have been used to summarize and analyze the raw data, Correlation Coefficient analysis has been used to test the relationship between dependent and independent variables, and sample paired T-test has been used to test the difference of profitability between Islamic and conventional banks listed in Qatar exchange (QE). The independent variables that have significant relationship with the profitability of Islamic banks are; Loan deposit ratio (before and during the crisis), Capital adequacy ratio (before the crisis), Debt to equity (after the crisis), Debt to total assets (after), Asset utilization (during) Nonperforming loans to total loans (before), Non-performing loans to total equity (before), Bank size (before and after), inflation rate (during and after), Money supply (before and after), and Interest rate (before and after). The independent variables that have significant relationship with the profitability of conventional banks are; Loan deposit ratio (before), Capital adequacy ratio (before and during), Debt to equity (before and after), Debt to total assets (before and during), Operating efficiency (during), Non-performing loans to total loans (before and after), Non-performing loans to total equity (before and during), Bank size (before, during, and after), inflation rate (during and after), Money supply (before, during, and after), and Interest rate (before, during, and after). The researcher also found that there is a significant difference between Islamic and conventional banks during and after the crisis.

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“…One of the most fundamental features that generate some challenges to the new banking industry was its inherent connectivity to the spiritual and moral tenets of the religion of Islam that were embodied in the Holy Qur'an and the teachings of the Prophet Muhammad (saw) (Durán & García-López, 2012). These spiritual and moral tenets cannot be applied to modern financial transactions without deep understanding of Islamic knowledge and wisdom of the Qur'an and traditions of the Prophet as well as the principles governing Shari'ah and doctrinal articles of belief (Iqbal, 1999;Sookhdeo, 2006).…”

Section: Introductionmentioning

confidence: 99%

Islamic Double Degree Program: A New Human Resource Development Model for Islamic Banking Industry

Gumel¹

2020

Proceedings of the 11th Business &Amp; Management Conference, Dubai

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The purpose of the study is to introduce a new Islamic Double Degree Model that can be use in the longrun to overcome the challenges of qualified manpower for Islamic banking industry. A critical system of literature review with empirical evidences was adopted as a methodology to achieve our purpose. The paper found shortage of Shari'ah scholars as a challenge to the future survival of Islamic banking. Also, Islamic banking employees including senior managers that were recruited from conventional sources lacking the necessary knowledge of Shari'ah principles poses another similar threat. The current Islamic education system was found not sufficient enough to provide the needed supply of 'Islamic experts'. Islamic Double Degree is timely. Other methods and analysis of investigation to validate our findings is beyond the scope of this paper. Also, a comprehensive model with course contents and structure is not provided. The study is primarily beneficial to students of learning and academicians who can delve into further research to support and substantiate our findings. For the researcher, the paper contributes to the stream of existing literature.

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The Internationalization of Islamic Banking and Finance: The Co-Evolution of Institutional Changes and Financial Services Integration

Cited by 10 publications

References 22 publications

Islamic Banking in the European Union Countries

Islamic Banking in the European Union Countries

A comparison Study on The Profitability and its Determinants between Islamic and Conventional Banks Listed in Qatar Exchange (QE) Pre, During, and Post 2008 Global Financial Crisis

Islamic Double Degree Program: A New Human Resource Development Model for Islamic Banking Industry

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