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Green Banking Products: Challenges and Issues in Islamic and Traditional Banks of Pakistan

Author

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  • Muhammad Hussain Qureshi
  • Talat Hussain

Abstract

Purpose: The issuance of green banking guidelines in 2017 has opened the door of a new banking horizon for Islamic banks because the objective of Islamic banks, objective of Shariah, objective of Islamic economic system and objective of green banking are linked. Banking, especially Islamic banking based on products and one of the main components of green banking guidelines is the development of green banking products. Since green banking is in the infancy stage, therefore, the objective of the study is to explore the issues and challenges in green banking products in Islamic and traditional banks of Pakistan. Methodology: Semi-Structured interview technique is utilized for data collection. The green operation managers and Shariah scholars of sample banks selected as interviewees. Interviews are conducted through telephonic recorded calls and email-interviewing. Total of 26 interviews are conducted. Findings: The results indicate that lack of skills, knowledge, identification of the target market with the appropriate mode of financing and convincing the people are some main obstacles in green banking product formulation and implementation. Implications: At one-point, green banking is an opportunity for Islamic banks to achieve Maqasid-e-Shariah on the other side, it may become an obstacle because it further limits the financing areas for Islamic banks. The situation needs serious attention from policymakers to act at earliest.

Suggested Citation

  • Muhammad Hussain Qureshi & Talat Hussain, 2020. "Green Banking Products: Challenges and Issues in Islamic and Traditional Banks of Pakistan," Journal of Accounting and Finance in Emerging Economies, CSRC Publishing, Center for Sustainability Research and Consultancy Pakistan, vol. 6(3), pages 703-712, October.
    • Handle: RePEc:src:jafeec:v:6:y:2020:i:3:p:703-712
    DOI: http://doi.org/10.26710/jafee.v6i3.1177
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    Cited by:

    1. A. A. I. N. Marhaeni & Kittisak Jermsittiparsert & Sudarmo & Lucia Rita Indrawati & Andjar Prasetyo & Noviati Fuada & Arnis Rachmadhani & Tri Weda Raharjo & Heri Wahyudianto & Bekti Putri Harwijayanti, 2023. "Adoption of the Green Economy through Branchless Rural Credit Banks during the COVID-19 Pandemic in Indonesia," Sustainability, MDPI, vol. 15(3), pages 1-20, February.
    2. Saromi Newton & Sahayaselvi Susainathan & Hesil Jerda George & Majdi Quttainah & Satyanarayana Parayitam, 2024. "Top Management Commitment as a Moderator in the Relationship Between Green Banking Adoption Practices and Performance: Evidence from India," Indian Journal of Corporate Governance, , vol. 17(1), pages 33-62, June.

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