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Introducing Islamic Banks Into Coventional Banking Systems

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  • Juan Sole

Abstract

Over the last decade, Islamic banking has experienced global growth rates of 10-15 percent per annum, and has been moving into an increasing number of conventional financial systems at such a rapid pace that Islamic financial institutions are present today in over 51 countries. Despite this consistent growth, many supervisory authorities and finance practitioners remain unfamiliar with the process by which Islamic banks are introduced into a conventional system. This paper attempts to shed some light in this area by describing the main phases in the process, and by flagging some of the main challenges that countries will face as Islamic banking develops alongside conventional institutions.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 07/175.

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Length: 26
Date of creation: 01 Jul 2007
Date of revision:
Handle: RePEc:imf:imfwpa:07/175

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Keywords: Bank supervision; Financial systems; Financial institutions; banking; islamic banks; islamic banking; islamic finance; takaful; deposit insurance; islamic products; banking system; sukuk; mudarabah; islamic investment; islamic bank; islamic instruments; islamic principles; investment banking; interbank money market; islamic jurisprudence; ijara; islamic mortgages; murabaha; shariah scholars; islamic funds; retail banking; riba; banking systems; banking activities; fiqh; prudential regulation; banking law; banking regulations; level playing field; capital adequacy; excess liquidity; musharaka; islamic jurists; banking industries; islamic insurance; islamic finance practitioners; islamic economy; state bank; banking products; banking institutions; diminishing musharaka; bank securities; islamic investments; government finance; islamic trade; islamic scholars; istijrar contracts; free banking; islamic banking institutions; deposit insurance scheme; banking industry; islamic instrument; banking sector; muslim investors; islamic system; islamic banking activities; monetary authority; bay al-dayn; bank run; capital mobility; banking operations; offshore banking; islamic law; investment bank; salam contracts; islamic business; banking license; islamic securities; retail bank; islamic systems; bank negara malaysia; islamic savings;

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References

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  1. El-Hawary & Dahlia & Grais, Wafik & Iqbal, Zamir, 2004. "Regulating islamic financial institutions : The nature of the regulated," Policy Research Working Paper Series 3227, The World Bank.
  2. International Monetary Fund, 1998. "The Design of Instruments for Government Finance in an Islamic Economy," IMF Working Papers 98/54, International Monetary Fund.
  3. International Monetary Fund, 1998. "Monetary Operations and Government Debt Management Under Islamic Banking," IMF Working Papers 98/144, International Monetary Fund.
  4. 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.
  5. Luca Errico & Mitra Farahbaksh, 1998. "Islamic Banking," IMF Working Papers 98/30, International Monetary Fund.
  6. Bacha, Obiyathulla I., 1999. "Derivative Instruments and Islamic Finance: Some Thoughts for a Reconsideration," MPRA Paper 12752, University Library of Munich, Germany.
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Cited by:
  1. Ab-Rahim, Rossazana & Kadri, Norlina & Ismail, Farhana, 2013. "Efficiency performance of Malaysian Islamic banks," MPRA Paper 46238, University Library of Munich, Germany.
  2. Martin Čihák & Heiko Hesse, 2010. "Islamic Banks and Financial Stability: An Empirical Analysis," Journal of Financial Services Research, Springer, vol. 38(2), pages 95-113, December.
  3. Beck, Thorsten & Demirgüç-Kunt, Asli & Merrouche, Ouarda, 2013. "Islamic vs. conventional banking: Business model, efficiency and stability," Journal of Banking & Finance, Elsevier, vol. 37(2), pages 433-447.
  4. repec:ipg:wpaper:35 is not listed on IDEAS
  5. Kablan, S & Yousfi, O, 2011. "Efficiency of islamic and conventional banks in countries with islamic banking," MPRA Paper 32951, University Library of Munich, Germany.
  6. Thorsten Beck & Samuel Munzele Maimbo & Issa Faye & Thouraya Triki, 2011. "Financing Africa : Through the Crisis and Beyond," World Bank Publications, The World Bank, number 2355, October.
  7. Ajmi, Ahdi Noomen & Hammoudeh, Shawkat & Nguyen, Duc Khuong & Sarafrazi, Soodabeh, 2014. "How strong are the causal relationships between Islamic stock markets and conventional financial systems? Evidence from linear and nonlinear tests," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 28(C), pages 213-227.
  8. Omar Masood & Ghulam Shabbir Khan Niazi & Noryati Ahmad, 2011. "Empirical evidence on the risk management tools practised in Islamic and conventional banks," Qualitative Research in Financial Markets, Emerald Group Publishing, vol. 3(2), pages 105-116, June.

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