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An Explanatory Analysis to Identify and Prioritize the Challenges of Islamic Banking Implementation: The Case of I.R. Iran

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Abstract:

Islamic banking system has emerged as a competitive and a viable substitute for the conventional banking system during the last four decades. Islamic banking is a banking activity that is accordance with the laws of Islam (Islamic jurisprudence) and its practical application is in the development of Islamic economics. For complete implementation of Islamic banking, namely transition from interest free banking system and going forward to reach the total Islamic banking system, there are challenges and problems involved. The main purpose of this research is to identify and explain the important challenges associated with IB implementation in I.R.Iran. To achieve this goal, based on the qualitative method after a detailed study of the theoretical foundation and literature review, using data obtained from interviews with experts and the convenient questionnaire, the final identified factors have been analyzed and presented in form of a conceptual research model. Experts of this research were both academicians and practitioners in the field of banking and financial system. The findings showed that significant challenges exist to establish a comprehensive system of Islamic banking; accordingly policy makers and mangers in order to succeed in this system should consider them. The convenient programs should be settled so that the problems and challenges eliminated and the road to success implementation will be paved.

Info:

Periodical:
International Letters of Social and Humanistic Sciences (Volume 35)
Pages:
45-55
DOI:
10.18052/www.scipress.com/ILSHS.35.45
Citation:
S. R. Seyed-Javadin et al., "An Explanatory Analysis to Identify and Prioritize the Challenges of Islamic Banking Implementation: The Case of I.R. Iran", International Letters of Social and Humanistic Sciences, Vol. 35, pp. 45-55, 2014
Online since:
Jul 2014
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