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Islamic Social Banking Platform (Case of Resalat Islamic Bank)

Author

Listed:
  • Mirjalili , Seyed Hossein

    (Faculty of Economics, Institute for Humanities and Cultural Studies)

  • Baan , Hassan

    (Iran Banking Institute)

  • Soroosh , Abouzar

    (Iranian Association of Islamic Finance)

  • Botshekan , Mohammad Hashem

    (Faculty of Finance and Banking, Allame Tabatabaii University)

Abstract

In this paper, we examined an effective business model for the ecosystem of Islamic FinTech for Resalat Islamic Bank. The article discussed three phases of Resalat Bank development as a Platform in formulating social business models that require new value propositions, value constellations, and profit equations, and as such, resembles business model innovation. The result of the qualitative method for comparing Resalat Bank and Grameen Bank indicated that the business model of Resalat Bank is more efficient than Grameen Bank. We also discussed the challenges of transformation from the "current Islamic banking business model" to "Islamic banking as a platform" and proposes a framework for "Islamic bank as a platform" at the macro and micro levels.

Suggested Citation

  • Mirjalili , Seyed Hossein & Baan , Hassan & Soroosh , Abouzar & Botshekan , Mohammad Hashem, 2020. "Islamic Social Banking Platform (Case of Resalat Islamic Bank)," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 15(1), pages 35-54, January.
    • Handle: RePEc:mbr:jmonec:v:15:y:2020:i:1:p:35-54
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    More about this item

    Keywords

    Islamic Social Banking; Platform; Business Model; Sharing Economy; Fintech;
    All these keywords.

    JEL classification:

    • D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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