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Islamic Finance Paradigm And Its Impact On The Banking System

Author

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  • BIRAU RAMONA

    (UNIVERSITY OF CRAIOVA, EUGENIU CARADA DOCTORAL SCHOOL OF ECONOMIC SCIENCES, CRAIOVA, ROMANIA & FACULTY OF ECONOMIC SCIENCE, UNIVERSITY CONSTANTIN BRANCUSI, TG-JIU, ROMANIA)

  • FILIP ROBERT DORIN

    (UNIVERSITY OF CRAIOVA, EUGENIU CARADA DOCTORAL SCHOOL OF ECONOMIC SCIENCES, CRAIOVA, ROMANIA)

Abstract

The main aim of this research paper is to provide a literature survey on the islamic finance paradigm and its impact on the banking system. The financial infrastructure differs in the case of Islamic banking compared to conventional banking. The Islamic jurisprudence known as Shariah law represents the foundation on which the Islamic banking system is based. Islamic banking emerged in the mid-1970s and represents an alternative to conventional banking. Moreover, one of the most important aspects is that Islamic banking system has implemented a new banking style based on “interest free” approach.

Suggested Citation

  • Birau Ramona & Filip Robert Dorin, 2025. "Islamic Finance Paradigm And Its Impact On The Banking System," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 83-88, February.
    • Handle: RePEc:cbu:jrnlec:y:2025:v:1:p:83-88
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    References listed on IDEAS

    as
    1. Mohammad Nejatullah Siddiqi, 2006. "Islamic Banking And Finance In Theory And Practice: A Survey Of State Of The Art," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 13, pages 2-48.
    2. Hanif, Muhammad, 2024. "Performance Evaluation of Islamic Banking Services Industry: Evidence from GCC," OSF Preprints 379un_v1, Center for Open Science.
    3. Hanan Qudah & Sari Malahim & Rula Airout & Mohammad Alomari & Aiman Abu Hamour & Mohammad Alqudah, 2023. "Islamic Finance in the Era of Financial Technology: A Bibliometric Review of Future Trends," IJFS, MDPI, vol. 11(2), pages 1-29, June.
    4. Azmat, Saad & Azad, A.S.M. Sohel & Ghaffar, Hamza & Hayat, Aziz & Chazi, Abdelaziz, 2020. "Conventional vs Islamic banking and macroeconomic risk: Impact on asset price bubbles," Pacific-Basin Finance Journal, Elsevier, vol. 62(C).
    5. Muhammad Hanif, 2024. "Performance Evaluation of Islamic Banking Services Industry: Evidence from GCC," JRFM, MDPI, vol. 17(11), pages 1-16, November.
    6. A.K. Siti-Nabiha & Noval Adib, 2020. "An institutional analysis of the emergence and institutionalisation of Islamic banking practices in Indonesia," Journal of Islamic Accounting and Business Research, Emerald Group Publishing Limited, vol. 11(9), pages 1725-1738, April.
    7. Fadoua Joudar & Zouheir Msatfa & Olaya Metwalli & Maha Mouabid & Brahim Dinar, 2023. "Islamic Financial Stability Factors: An Econometric Evidence," Economies, MDPI, vol. 11(3), pages 1-13, March.
    8. Burhanudin Harahap & Tastaftiyan Risfandy & Inas Nurfadia Futri, 2023. "Islamic Law, Islamic Finance, and Sustainable Development Goals: A Systematic Literature Review," Sustainability, MDPI, vol. 15(8), pages 1-21, April.
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