ISLAMIC BANKING AND FINANCE AS AN ETHICAL ALTERNATIVE: A SYSTEMATIC LITERATURE REVIEW
Despite huge global growth rates and a rapidly increasing importance of Islamic banking and finance, research in this area still needs to be classified as nascent. Recent economic events have led to an increasingly critical attitude towards the conventional banking and finance...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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ACRN Publishing
2016-05-01
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| Series: | ACRN Journal of Finance and Risk Perspectives |
| Online Access: | http://www.acrn-journals.eu/resources/jofrp0502d.pdf |
| _version_ | 1798045591027056640 |
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| author | Johanna Pesendorfer Othmar Lehner |
| author_facet | Johanna Pesendorfer Othmar Lehner |
| author_sort | Johanna Pesendorfer |
| collection | DOAJ |
| description | Despite huge global growth rates and a rapidly increasing importance of Islamic banking and finance, research in this area still needs to be classified as nascent. Recent economic events have led to an increasingly critical attitude towards the conventional banking and finance system, whereas Islamic banking is considered to be an ethical alternative not only in Muslim economies but also progressively in the “western” world. As their business models have their origins in religious and ethical ideals, Islamic banks struggle to observe the foundational Shariah principles while simultaneously meeting applicable guidelines such as Basel III and flexibly adapt to the ever changing customer demands. Due to the increasing importanceof Islamic banking and finance, this article aims toanalyse and summarise various aspects of current research and sets out to identify both, congruence and inconsistencies between the implied promise of an “ethical” alternative and the actual market. |
| first_indexed | 2024-04-11T23:23:30Z |
| format | Article |
| id | doaj.art-8dd5949cd5f641b1becf2d16549e53bf |
| institution | Directory Open Access Journal |
| issn | 2305-7394 2305-7394 |
| language | English |
| last_indexed | 2024-04-11T23:23:30Z |
| publishDate | 2016-05-01 |
| publisher | ACRN Publishing |
| record_format | Article |
| series | ACRN Journal of Finance and Risk Perspectives |
| spelling | doaj.art-8dd5949cd5f641b1becf2d16549e53bf2022-12-22T03:57:24ZengACRN PublishingACRN Journal of Finance and Risk Perspectives2305-73942305-73942016-05-01524264ISLAMIC BANKING AND FINANCE AS AN ETHICAL ALTERNATIVE: A SYSTEMATIC LITERATURE REVIEWJohanna Pesendorfer0Othmar Lehner1https://orcid.org/0000-0002-3317-9604Oberbank AGUniversity of Oxford, Said Business SchoolDespite huge global growth rates and a rapidly increasing importance of Islamic banking and finance, research in this area still needs to be classified as nascent. Recent economic events have led to an increasingly critical attitude towards the conventional banking and finance system, whereas Islamic banking is considered to be an ethical alternative not only in Muslim economies but also progressively in the “western” world. As their business models have their origins in religious and ethical ideals, Islamic banks struggle to observe the foundational Shariah principles while simultaneously meeting applicable guidelines such as Basel III and flexibly adapt to the ever changing customer demands. Due to the increasing importanceof Islamic banking and finance, this article aims toanalyse and summarise various aspects of current research and sets out to identify both, congruence and inconsistencies between the implied promise of an “ethical” alternative and the actual market.http://www.acrn-journals.eu/resources/jofrp0502d.pdf |
| spellingShingle | Johanna Pesendorfer Othmar Lehner ISLAMIC BANKING AND FINANCE AS AN ETHICAL ALTERNATIVE: A SYSTEMATIC LITERATURE REVIEW ACRN Journal of Finance and Risk Perspectives |
| title | ISLAMIC BANKING AND FINANCE AS AN ETHICAL ALTERNATIVE: A SYSTEMATIC LITERATURE REVIEW |
| title_full | ISLAMIC BANKING AND FINANCE AS AN ETHICAL ALTERNATIVE: A SYSTEMATIC LITERATURE REVIEW |
| title_fullStr | ISLAMIC BANKING AND FINANCE AS AN ETHICAL ALTERNATIVE: A SYSTEMATIC LITERATURE REVIEW |
| title_full_unstemmed | ISLAMIC BANKING AND FINANCE AS AN ETHICAL ALTERNATIVE: A SYSTEMATIC LITERATURE REVIEW |
| title_short | ISLAMIC BANKING AND FINANCE AS AN ETHICAL ALTERNATIVE: A SYSTEMATIC LITERATURE REVIEW |
| title_sort | islamic banking and finance as an ethical alternative a systematic literature review |
| url | http://www.acrn-journals.eu/resources/jofrp0502d.pdf |
| work_keys_str_mv | AT johannapesendorfer islamicbankingandfinanceasanethicalalternativeasystematicliteraturereview AT othmarlehner islamicbankingandfinanceasanethicalalternativeasystematicliteraturereview |