Islamic finance in Mauritius : prospects and challenges
Author
Source
Journal of Islamic Business and Management
Issue
Vol. 4, Issue 1 (30 Jun. 2014), pp.99-124, 26 p.
Publisher
Riphah International University Riphah Centre of Islamic Business
Publication Date
2014-06-30
Country of Publication
Pakistan
No. of Pages
26
Main Subjects
Financial and Accounting Sciences
Religion
Islamic Studies
Topics
- Banks
- Economics
- Islamic economics
- Islam
- Financing
- Mauritius
- Religious aspects
- Banking
- Islamic Banks
- Deeds
- Challenges
Abstract EN
The purpose of this paper is to first illustrate the development of Islamic finance in Mauritius, an island with a minority Muslim population which has made the necessary changes in its regulatory framework for Islamic finance and banking since 2007, and has so far seen only sporadic development in the market.
The paper also discusses the opportunities and challenges for implementing Islàmic financial services in the island.
While the offshore market is an ideal platform for Islmic financial institutions (IFIs) to set up global SharTah based funds and the issuance of “sukük”, the domestic market has not shown positive responses to the existing products.
For any Islàmic financial institution to succeed in Mauritius, it is required to have an inclusive business strategy and value proposition which includes key offerings under the consumer banking, commercial banking, corporate investment banking and treasury.
In general, why Islàmic financial services are not taking off at full speed remains the unsolved question for many in Mauritius.
Further empirical researches are required to understand and deepen the awareness in the market about the emerging financial system.
American Psychological Association (APA)
Lallmahmud, Munir al-Din. 2014. Islamic finance in Mauritius : prospects and challenges. Journal of Islamic Business and Management،Vol. 4, no. 1, pp.99-124.
https://search.emarefa.net/detail/BIM-601724
Modern Language Association (MLA)
Lallmahmud, Munir al-Din. Islamic finance in Mauritius : prospects and challenges. Journal of Islamic Business and Management Vol. 4, no. 1 (Jun. 2014), pp.99-124.
https://search.emarefa.net/detail/BIM-601724
American Medical Association (AMA)
Lallmahmud, Munir al-Din. Islamic finance in Mauritius : prospects and challenges. Journal of Islamic Business and Management. 2014. Vol. 4, no. 1, pp.99-124.
https://search.emarefa.net/detail/BIM-601724
Data Type
Journal Articles
Language
English
Notes
Includes appendices : p. 121-124
Record ID
BIM-601724