Worldwide development of Islamic finance : trends, prospects and challenges
Joint Authors
Wahid, Nizar al-Din A.
Furqani, Hafas
Source
Journal of Islamic Business and Management
Issue
Vol. 3, Issue 1 (30 Jun. 2013), pp.71-90, 20 p.
Publisher
Riphah International University Riphah Centre of Islamic Business
Publication Date
2013-06-30
Country of Publication
Pakistan
No. of Pages
20
Main Subjects
Financial and Accounting Sciences
Religion
Islamic Studies
Topics
- Banks
- Islam
- Financing
- Islamic World
- Western world
- Religious aspects
- Banking
- Financial services industry
- Islamic Banks
- Challenges
Abstract EN
Islamic banking bas developed immensely and has gained global acceptance.
From a local system of finance with limited assets and market shares, Islamic banking now emerges as a m^tinational industry holding assets of around us$ 1.3 trillion (2011) as compared to us$ 6 billion in the early 1980’s which represent average annual growth of 17 %.
While the prospects for Islamic banking growth continue to be positive, the challenges faced and the opportunity to offer a new financial approach and hence regulation in the international financial landscape is very much awaited.
Islamic finance has not only demonstrated its viability and competitiveness in the current environment of a more liberalized and globalized financial system with changing business and technological climates, but now, it is also in the move towards integration into global financial market.
The paper attempts to observe the development of Islamic finance worldwide by looking at the histoiy, trends and prospects.
The paper also discusses some challenges faced by Islamic financial industry for future progress and development.
American Psychological Association (APA)
Wahid, Nizar al-Din A.& Furqani, Hafas. 2013. Worldwide development of Islamic finance : trends, prospects and challenges. Journal of Islamic Business and Management،Vol. 3, no. 1, pp.71-90.
https://search.emarefa.net/detail/BIM-601469
Modern Language Association (MLA)
Wahid, Nizar al-Din A.& Furqani, Hafas. Worldwide development of Islamic finance : trends, prospects and challenges. Journal of Islamic Business and Management Vol. 3, no. 1 (Jun. 2013), pp.71-90.
https://search.emarefa.net/detail/BIM-601469
American Medical Association (AMA)
Wahid, Nizar al-Din A.& Furqani, Hafas. Worldwide development of Islamic finance : trends, prospects and challenges. Journal of Islamic Business and Management. 2013. Vol. 3, no. 1, pp.71-90.
https://search.emarefa.net/detail/BIM-601469
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references : p. 87-90
Record ID
BIM-601469