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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: 34
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;

This paper has been announced in the following NEP Reports:

References

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  1. Luca Errico & Mitra Farahbaksh, 1998. "Islamic Banking - Issues in Prudential Regulations and Supervision," IMF Working Papers 98/30, International Monetary Fund.
  2. Bacha, Obiyathulla I., 1999. "Derivative Instruments and Islamic Finance: Some Thoughts for a Reconsideration," MPRA Paper 12752, University Library of Munich, Germany.
  3. International Monetary Fund, 1998. "The Design of Instruments for Government Finance in an Islamic Economy," IMF Working Papers 98/54, International Monetary Fund.
  4. International Monetary Fund, 1998. "Monetary Operations and Government Debt Management Under Islamic Banking," IMF Working Papers 98/144, International Monetary Fund.
  5. 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.
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Cited by:
  1. 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.
  2. 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.
  3. 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.
  4. 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.

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