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Islamic Banking: State Of The Art

Author

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  • AHMAD, ZIAUDDIN

    (Ex-Deputy Governor of the State Bank of Pakistan)

Abstract

This paper reviews the progress of Islamic banking from both theoretical and practical aspects. It highlights the basic principles on which Islamic banking is based and describes the operational details of Islamic banks. It mentions some of the misgivings with respect to the viability of Islamic banking and evaluates them objectively. It highlights the effects of Islamic banking on savings, investment, growth, allocative efficiency and stability. The paper also reviews and evaluates the practice of Islamic banking both at the level of individual banks as well as country level experiences in Pakistan, Iran and Sudan. At the end, the paper identifies areas where further research is needed.

Suggested Citation

  • Ahmad, Ziauddin, 1994. "Islamic Banking: State Of The Art," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 2, pages 1-33.
    • Handle: RePEc:ris:isecst:0115
    as

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    File URL: http://www.irti.org/English/Research/Documents/IES/148.pdf
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    References listed on IDEAS

    as
    1. Pryor, Frederic L., 1985. "The islamic economic system," Journal of Comparative Economics, Elsevier, vol. 9(2), pages 197-223, June.
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    Cited by:

    1. World Bank, 2002. "Reducing Vulnerability and Increasing Opportunity : Social Protection in the Middle East and North Africa," World Bank Publications - Books, The World Bank Group, number 14255.
    2. Sudin Haron, 1998. "A Comparative Study of Islamic Banking Practices دراسة مقارنة للممارسات المصرفية الإسلامية," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 10(1), pages 23-50, January.
    3. Mustafa Disli & Ahmad Khalid Hatam & Shakir Jalaly, 2023. "Faithful Finance: Unlocking Banking Islamization in Afghanistan," Economies, MDPI, vol. 11(7), pages 1-15, July.
    4. Bacha, Obiyathulla I., 1997. "Adapting Mudarabah Financing to Contemporary Realities: A Proposed Financing Structure," MPRA Paper 12732, University Library of Munich, Germany, revised Nov 1996.
    5. Haron, Sudin, 1996. "Competition And Other External Determinants Of The Profitability Of Islamic Banks," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 4, pages 49-64.
    6. Mirela Nichita & Meral Kagitci & Marcel Vulpoi, 2013. "Islamic Banking System. The Case Of The Kingdom Of Saudi Arabia," Romanian Economic Business Review, Romanian-American University, vol. 8(3.1), pages 211-226, September.
    7. Shamim Ahmad Siddiqui, 2008. "An Evaluation of Research on Monetary Policy and Stability of the Islamic Economic system تقييم الأبحاث المتعلقة بالسياسة والاستقرار المالي لنظام الاقتصاد الإسلامي," Papers and books based on the proceedings of the Conferences organized by the Islamic Economics Institute, KAAU. 51, King Abdulaziz University, Islamic Economics Institute..
    8. Volker Nienhaus, 2014. "Religion and development," Chapters, in: M. Kabir Hassan & Mervyn K. Lewis (ed.), Handbook on Islam and Economic Life, chapter 28, pages iii-iii, Edward Elgar Publishing.

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