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A survey of Islamic banking and finance literature: Issues, challenges and future directions

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  • Narayan, Paresh Kumar
  • Phan, Dinh Hoang Bach

Abstract

This paper undertakes a survey of the literature on Islamic banking and finance. The aim is to provide an understanding of the literature, identify key issues and challenges, and explore potential directions for future research. Our survey reveals that there is a need to; (a) focus on new areas of research including datasets, (b) establish the economic significance of the statistical results, (c) undertake research that explores new questions/hypotheses, and (d) establish the robustness of the findings. The paper discusses these issues.

Suggested Citation

  • Narayan, Paresh Kumar & Phan, Dinh Hoang Bach, 2019. "A survey of Islamic banking and finance literature: Issues, challenges and future directions," Pacific-Basin Finance Journal, Elsevier, vol. 53(C), pages 484-496.
    • Handle: RePEc:eee:pacfin:v:53:y:2019:i:c:p:484-496
    DOI: 10.1016/j.pacfin.2017.06.006
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    Keywords

    Literature survey; Islamic finance; Published research; Major journals;
    All these keywords.

    JEL classification:

    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes

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