The Development of Islamic Banking and Financial Institution in United Kingdom
0
조회
0
다운로드
4
인용
0
참고문헌
키워드
초록
Purpose - The aim of this study is to investigate the problems, challenges, opportunities and future prospects of Islamic banking and finance in the UK. However, this study brings forward into 3 main purposes. Firstly, to explore the development of financial institutions, products and regulatory reforms. Secondly, to find out the performance of Islamic banking institutions. Lastly, to identify the problems, challenges and Islamic banking future prospects. Research design, data, and methodology - An in-depth literature review was carried out to fulfil the research objectives. Results - The findings point out the basic problems of Islamic banking industry in UK such as unfavorable regulatory environment, unfamiliarity with the Islamic Banking System, lack of portfolio management, absence of liquidity instruments, in need of professional bankers, and blending of approach of Islamic scholars with the approach of the conventional bankers. The findings also indicate that there are greater opportunities in the UK for development and growth of Islamic financial system because Muslim community is eager to take financial products. Conclusions - It is hoped that issues pertaining to Islamic banking products can be resolved through consensus of Shariah scholars. There is need to educate the Muslim community about Islamic financial products and service.
Abstract
Purpose - The aim of this study is to investigate the problems, challenges, opportunities and future prospects of Islamic banking and finance in the UK. However, this study brings forward into 3 main purposes. Firstly, to explore the development of financial institutions, products and regulatory reforms. Secondly, to find out the performance of Islamic banking institutions. Lastly, to identify the problems, challenges and Islamic banking future prospects. Research design, data, and methodology - An in-depth literature review was carried out to fulfil the research objectives. Results - The findings point out the basic problems of Islamic banking industry in UK such as unfavorable regulatory environment, unfamiliarity with the Islamic Banking System, lack of portfolio management, absence of liquidity instruments, in need of professional bankers, and blending of approach of Islamic scholars with the approach of the conventional bankers. The findings also indicate that there are greater opportunities in the UK for development and growth of Islamic financial system because Muslim community is eager to take financial products. Conclusions - It is hoped that issues pertaining to Islamic banking products can be resolved through consensus of Shariah scholars. There is need to educate the Muslim community about Islamic financial products and service.
참고문헌 (15)
- Ahmad, W., "Islamic Banking in the UK: Opportunities and Challenges", M. Sc, pp.2008
- Islamic Finance in the UK: Regulation and Challenges, "Ainley, M. A.", Financial Services Authority, ~ (2007)
- Fasih, F., "Inclusive growth in India through Islamic banking", Procedia - Social and Behavioral Sciences, 37, pp.97~110 (2012)
- Challenges facing Islamic banking, "Iqbal, M.", IRTI, ~, pp.Occasional Paper #2 (1998)
- Karbhari, Y., "Problems and challenges facing the Islamic banking system in the west: The case of the UK", Thunderbird International Business Review, 46(5), pp.521~543 (2004)
- Malik, A., "An Analysis of Islamic Banking and Finance in West: From Lagging to Leading", Asian Social Science, 7(1), pp.179~ (2011)
- "Islamic finance in the UK: Regulation and challenges" (2007)[URL]
- "Press release corporate" (2014)[URL]
- Pepinsky, T. B., "Development, social change, and Islamic finance in contemporary Indonesia", World Development, 41, pp.157~167 (2012)
- Sole, M. J., "Introducing Islamic Banks into Conventional Banking Systems (EPub)" (2007), International Monetary Fund
- The Guardian News, "Money. April issue. UK Trade and Investment brochure. UK Trade and Investment", UK Excellence in Islamic Finance, ~ (2014)
- Wilson, R., "Challenges and opportunities for Islamic banking and finance in the west: The United Kingdom experience", Islamic Economic Studies, 7, pp.36~59 (2000)
- Wilson, R., "Durham University Institute for Middle Eastern and Islamic Studies, Federation of Bosnia and Herzegovina. Islamic Banking and Finance Lecture Sarajevo", ~ (2006)
- The development of Islamic finance in the Gulf Cooperation Council States (GCC). Working Paper, Kuwait Programme on Development, Governance and Globalization in the Gulf States, "Wilson, R.", ~ (2009)
- Wilson, R., "The development of Islamic finance in the gulf cooperation council states", The Transformation of the Gulf: Politics, Economics and the Global Order, 146, pp.47~76 (2013)