IDEAS home Printed from https://ideas.repec.org/a/ris/isecst/0060.html
   My bibliography  Save this article

Islamic Banking And Finance In Theory And Practice: A Survey Of State Of The Art

Author

Listed:
  • SIDDIQI, MOHAMMAD NEJATULLAH

    (Center for Research in Islamic Economics, King Abdulaziz University)

Abstract

The practice of Islamic finance significantly departs from its theory. The survey addresses the causes of the dichotomy and offers alternative research approaches and themes that may in the future facilitate convergence of the practice with the theoretical aspirations - a transformation from merely meeting the criteria of legality to that of achieving the objectives of Islamic law.

Suggested Citation

  • Siddiqi, Mohammad Nejatullah, 2006. "Islamic Banking And Finance In Theory And Practice: A Survey Of State Of The Art," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 13, pages 2-48.
    • Handle: RePEc:ris:isecst:0060
    as

    Download full text from publisher

    File URL: http://www.irti.org/English/Research/Documents/IES/090.pdf
    File Function: Full text
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Rodney Wilson, 1997. "Economics, Ethics and Religion," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-37472-0.
    2. Munawar Iqbal & David T. Llewellyn (ed.), 2002. "Islamic Banking and Finance," Books, Edward Elgar Publishing, number 2499.
    3. Haque, Nadeem ul & Mirakhor, Abbas, 1999. "The Design of Instruments For Government Finance in An Islamic Economy," MPRA Paper 56028, University Library of Munich, Germany.
    4. Ul Haque, Nadeem & Mirakhor, Abbas, 1999. "The Design Of Instruments For Government Finance In An Islamic Economy," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 6, pages 27-43.
    5. Paul S. Mills & John R. Presley, 1999. "Islamic Finance: Theory and Practice," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-28847-8.
    6. Khan, Tariqullah & Ahmed, Habib, 2001. "Risk Management: An Analysis of Issues in Islamic Financial Industry (Occasional Paper)," Occasional Papers 2001, The Islamic Research and Teaching Institute (IRTI).
    7. Hasan, Zubair, 2005. "Islamic banking at the crossroads: theory versus practice," MPRA Paper 2821, University Library of Munich, Germany.
    8. International Monetary Fund, 2002. "Islamic Financial Institutions and Products in the Global Financial System: Key Issues in Risk Management and Challenges Ahead," IMF Working Papers 2002/192, International Monetary Fund.
    9. Ahmed, Habib & Chapra, Mohammad Umar, 2002. "Corporate Governance in Islamic Financial Institution (Occasional Paper)," Occasional Papers 93, The Islamic Research and Teaching Institute (IRTI).
    10. Al-Jarhi, Mabid, 1980. "A Monetary and Financial Structure for an Interest-Free Economy: Institutions, Mechanism & Policy," MPRA Paper 66741, University Library of Munich, Germany, revised 2004.
    11. Al-Jarhi, Mabid, 2000. "A Comparison of Transactions in Conventional and Islamic Economies," MPRA Paper 66725, University Library of Munich, Germany.
    12. Rodney Wilson, 1997. "Economics and Ethics," Palgrave Macmillan Books, in: Economics, Ethics and Religion, chapter 1, pages 1-21, Palgrave Macmillan.
    13. Habib Ahmed, 2002. "Incentive-compatible profit-sharing contracts: a theoretical treatment," Chapters, in: Munawar Iqbal & David T. Llewellyn (ed.), Islamic Banking and Finance, chapter 3, Edward Elgar Publishing.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Al-Jarhi, Mabid, 2004. "Islamic Finance: An Equitable and Efficient Option," MPRA Paper 55765, University Library of Munich, Germany.
    2. Muhammad Nouman & Karim Ullah, 2014. "Constraints in the Application of Partnerships in Islamic Banks: The Present Contributions and Future Directions," Business & Economic Review, Institute of Management Sciences, Peshawar, Pakistan, vol. 6(2), pages 47-62, October.
    3. Muhammad Nouman & Karim Ullah & Saleem Gul, 2018. "Why Islamic Banks Tend to Avoid Participatory Financing? A Demand, Regulation, and Uncertainty Framework," Business & Economic Review, Institute of Management Sciences, Peshawar, Pakistan, vol. 10(1), pages 1-32, March.
    4. Sandrine Kablan & Ouidad Yousfi, 2015. "Performance of Islamic Banks across the World: An Empirical Analysis over the Period 2001-2008," International Journal of Empirical Finance, Research Academy of Social Sciences, vol. 4(1), pages 27-46.
    5. Giorgio Gomel & Angelo Cicogna & Domenico De Falco & Marco Valerio Della Penna & Lorenzo Di Bona De Sarzana & Angela Di Maria & Patrizia Di Natale & Alessandra Freni & Sergio Masciantonio & Giacomo Od, 2010. "Islamic finance and conventional financial systems. Market trends, supervisory perspectives and implications for central banking activity," Questioni di Economia e Finanza (Occasional Papers) 73, Bank of Italy, Economic Research and International Relations Area.
    6. Pejman Abedifar & Philip Molyneux & Amine Tarazi, 2013. "Risk in Islamic Banking," Review of Finance, European Finance Association, vol. 17(6), pages 2035-2096.
    7. Shajari , Parastoo & Mohebikhah , Bita, 2012. "Financial Stability in Islamic Banking System the Capacity to React to Current World Wide Crisis," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 6(4), pages 133-166, July.
    8. Riaz, Umair & Burton, Bruce & Monk, Lissa, 2017. "Perceptions on Islamic banking in the UK—Potentialities for empowerment, challenges and the role of scholars," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 47(C), pages 39-60.
    9. ., 2014. "Challenges facing the Islamic financial industry," Chapters, in: Morality and Justice in Islamic Economics and Finance, chapter 7, pages 193-238, Edward Elgar Publishing.
    10. El-Hawary, Dahlia & Grais, Wafik & Iqbal, Zamir, 2007. "Diversity in the regulation of Islamic Financial Institutions," The Quarterly Review of Economics and Finance, Elsevier, vol. 46(5), pages 778-800, February.
    11. Elisabetta Montanaro, 2010. "Islamic Banking: A Challenge for the Basel Capital Accord," Chapters, in: M. Fahim Khan & Mario Porzio (ed.), Islamic Banking and Finance in the European Union, chapter 7, Edward Elgar Publishing.
    12. repec:ipg:wpaper:2014-448 is not listed on IDEAS
    13. Albino Barrera, 1999. "Economic life, rights, and obligations: Perspectives from theological teleology," Forum for Social Economics, Springer;The Association for Social Economics, vol. 29(1), pages 63-74, September.
    14. Shaukat, Mughees & Othman Alhabshi, Datuk, 2015. "Instability of Interest Bearing Debt Finance and the Islamic Finance Alternative By Mughees Shaukat & Datuk Othman Alhabshi," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 23, pages 29-84.
    15. Pejman Abedifar & Shahid M. Ebrahim & Philip Molyneux & Amine Tarazi, 2015. "Islamic Banking And Finance: Recent Empirical Literature And Directions For Future Research," Journal of Economic Surveys, Wiley Blackwell, vol. 29(4), pages 637-670, September.
    16. ., 2014. "The case against interest: is it compelling?," Chapters, in: Morality and Justice in Islamic Economics and Finance, chapter 5, pages 137-162, Edward Elgar Publishing.
    17. Kablan, S & Yousfi, O, 2011. "Efficiency of islamic and conventional banks in countries with islamic banking," MPRA Paper 32951, University Library of Munich, Germany.
    18. Martin Čihák & Heiko Hesse, 2010. "Islamic Banks and Financial Stability: An Empirical Analysis," Journal of Financial Services Research, Springer;Western Finance Association, vol. 38(2), pages 95-113, December.
    19. Berggren, Niclas & Bjørnskov, Christian, 2013. "Does religiosity promote property rights and the rule of law?," Journal of Institutional Economics, Cambridge University Press, vol. 9(2), pages 161-185, June.
    20. Sabur Mollah & M. Kabir Hassan & Omar Farooque & Asma Mobarek, 2017. "The governance, risk-taking, and performance of Islamic banks," Journal of Financial Services Research, Springer;Western Finance Association, vol. 51(2), pages 195-219, April.
    21. Katharina Srnka & A. Gegez & S. Arzova, 2007. "Why Is It (Un-)ethical? Comparing Potential European Partners: A Western Christian and An Eastern Islamic Country – On Arguments Used in Explaining Ethical Judgments," Journal of Business Ethics, Springer, vol. 74(2), pages 101-118, August.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ris:isecst:0060. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: IRTI Staff or the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/irisbsa.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.