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Islamic Banking: Experiences in the Islamic Republic of Iran and Pakistan

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  • International Monetary Fund

Abstract

In an Islamic system, as interest is prohibited, banks are expected to operate solely on the basis of profit and risk sharing. This paper describes the developments in Islamic banking in Iran and Pakistan. As these two countries have initiated the most far-reaching experiments with Islamic banking, their experiences have a significant bearing on the feasibility of such a system. The developments in these countries are evaluated against the theory underlying the Islamic banking, and suggestions are made to achieve a more efficient system.

Suggested Citation

  • International Monetary Fund, 1989. "Islamic Banking: Experiences in the Islamic Republic of Iran and Pakistan," IMF Working Papers 1989/012, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:1989/012
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    Citations

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    Cited by:

    1. Nagano, Mamoru, 2010. "Islamic Finance and the Theory of Capital Structure," MPRA Paper 24567, University Library of Munich, Germany.
    2. Ahmet F. Aysan & Mustafa Disli & Meryem Duygun & Huseyin Ozturk, 2017. "Islamic Banks, Deposit Insurance Reform, and Market Discipline: Evidence from a Natural Framework," Journal of Financial Services Research, Springer;Western Finance Association, vol. 51(2), pages 257-282, April.
    3. Sarwar Uddin Ahmed & Md. Ashikur Rahman & Samiul Parvez Ahmed & G. M. Wali Ullah, 2014. "Pricing Linkage between Islamic Banking and Conventional Banking:The Case of Bangladesh," International Journal of Finance & Banking Studies, Center for the Strategic Studies in Business and Finance, vol. 3(4), pages 84-97, October.
    4. Narayan, Paresh Kumar & Narayan, Seema, 2013. "The short-run relationship between the financial system and economic growth: New evidence from regional panels," International Review of Financial Analysis, Elsevier, vol. 29(C), pages 70-78.
    5. Mr. Alexei P Kireyev, 2001. "Financial Reforms in Sudan: Streamlining Bank Intermediation," IMF Working Papers 2001/053, International Monetary Fund.
    6. Chong, Beng Soon & Liu, Ming-Hua, 2009. "Islamic banking: Interest-free or interest-based?," Pacific-Basin Finance Journal, Elsevier, vol. 17(1), pages 125-144, January.
    7. Mahmoud Yasin & Lucia Porcu & Francisco Liébana-Cabanillas, 2019. "The Effect of Brand Experience on Customers’ Engagement Behavior within the Context of Online Brand Communities: The Impact on Intention to Forward Online Company-Generated Content," Sustainability, MDPI, vol. 11(17), pages 1-17, August.
    8. Ahmet F. Aysan & Mustafa Disli & Huseyin Ozturk & Ibrahim M. Turhan, 2015. "Are Islamic Banks Subject To Depositor Discipline?," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 60(01), pages 1-16.

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