Issues in Transformation from Conventional Banking to Islamic Banking

Muhammad Usman Arshad; Mohammed Effandi Yusoff; Muhammad Sohail Tahir

Article Details

Issues in Transformation from Conventional Banking to Islamic Banking

Authors:

Muhammad Usman Arshad | Mohammed Effandi Yusoff | Muhammad Sohail Tahir

Publisher:

İlhan ÖZTÜRK

Journal:

International Journal of Economics and Financial Issues 2016 Vol.6 Issue 3, pp.220-224

Document Type:

Article

Publication Date:

4/2016

Document Language:

Turkish

Document ID (Org No.):

2000812914

Frequency:

Bimonthly

eISSN:

2146-4138

Abstract:

 

The present era has witnessed intensive changes in last few decades. The transformation of conventional financial system to Islamic financial system is one of these drastic changes the world has faced. Islamic banking is the major constituent of the Islamic finance. In line with these transformations, Islamic banks and financial institutions are facing several problems due to non-existence of comprehensive framework. However, some prominent issues are convergence issues, stability and regulatory issues, existence of different schools of thought and sensitivity towards role of religion in commercial and financial sector. A careful analysis of these issues can lead to sort out the solutions. The approach to overcome these challenges will determine the future success or failure of the industry. Therefore, this study shed a light on some major challenges that can hinder the progress and benefits of Islamic finance promises.

Article Details

Issues in Transformation from Conventional Banking to Islamic Banking

Authors: Muhammad Usman Arshad | Mohammed Effandi Yusoff | Muhammad Sohail Tahir

Publisher: İlhan ÖZTÜRK

Journal: International Journal of Economics and Financial Issues 2016 Vol.6 Issue 3, pp.220-224

Document Type: Article

Publication Date: 4/2016

Document Language: Turkish

Document ID (Org No.): 2000812914

Frequency: Bimonthly

eISSN: 2146-4138

Issues

Authors:

Muhammad Usman Arshad | Mohammed Effandi Yusoff | Muhammad Sohail Tahir

Publisher:

İlhan ÖZTÜRK

Journal:

International Journal of Economics and Financial Issues 2016 Vol.6 Issue 3, pp.220-224

Document Type:

Article

Publication Date:

4/2016

Document Language:

Turkish

Document ID (Org No.):

2000812914

Frequency:

Bimonthly

eISSN:

2146-4138