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5 Dissertation Topics on Islamic Finance

Published by Owen Ingram at January 9th, 2023 , Revised On October 5, 2023

Introduction

Islamic finance is a means of finance followed and undertaken by financial corporations (banks and lending institutions) in the Muslim world and Islamic companies operating in the Western world.

Islamic finance helps these companies raise finance following the Sharia law, also known as Islamic law. Islamic finance also refers to the different types of investments that are allowed under Sharia or Islamic law.

Islamic law outlines certain rules and regulations that need to be followed. One main rule of understanding Islamic banking and finance is avoiding interest (also known as riba). Since Islamic law views interest payments as favouring the lender, who is charging interest at the borrower’s expense, these payments are considered haram (prohibited) under the Islamic law of finance.

In contrast to the traditional banking method, Islamic finance and Islamic banking work with the sole purpose of contributing to the socio-economic goals of the society by placing its focus on profit-sharing schemes.

Profit banking, under which the financial institution shares its profits and losses, is considered halal (permissible) under Islamic finance law.

On the other hand, traditional banking is based on profits through halal or haram means of doing business, which is why this form of banking is discouraged under Islamic rules and teachings.

Considering Islamic Finance as a burgeoning field, this topic must be studied in-depth. Here are five dissertation topics on Islamic finance that will help understand the subject comprehensively:

These topics have been developed by PhD qualified writers of our team , so you can trust to use these topics for drafting your dissertation.

You may also want to start your dissertation by requesting  a brief research proposal  from our writers on any of these topics, which includes an  introduction  to the topic,  research question ,  aim and objectives ,  literature review  along with the proposed  methodology  of research to be conducted.  Let us know  if you need any help in getting started.

Check our  dissertation examples  to get an idea of  how to structure your dissertation .

Review the full list of  dissertation topics for 2022 here.

2022 Dissertation Topics on Islamic Finance

Topic 1: the role of islamic finance in financial inclusion among young working adults in the uk.

Research Aim: This research aims to find the role of Islamic finance in financial inclusion among young working adults in the UK. It will find how Islamic finance, through various aspects such as Islamic banking, investments, lending, etc., attract young working individuals to become a part of the UK financial system. Moreover, it will analyze how such as marketing, etc. Islamic financial institutions make Islamic finance more accessible and easier to manage for the young working individuals from various fields of life in the UK.

Topic 2: COVID-19 and Islamic Finance: Impact of COVID-19 on the Growth of Islamic Banking in Indonesia

Research Aim: This study will assess the impact of COVID-19 on the growth of Islamic banking in Indonesia. It will analyze the effects of COVID-19 on various Islamic banking operations in Indonesia. It will also show what strategies Islamic banks used to curb the aftereffects of COVID-19. Moreover, it will analyze its impact on profits, the number of accounts opened, lending, investments, etc., to show how did COVID-19 affect Islamic banking growth in Indonesia.

Topic 3: Islamic vs. Conventional Finance: A Study to Find the Impact of Islamic and Conventional Instruments on the Financial Sector Stability in Pakistan

Research Aim: This research intends to find the impact of Islamic and conventional instruments (bonds, investments, mortgages, etc.) on the financial sector stability in Pakistan. It will review how Islamic and conventional instruments operates in Pakistan and the difference in demands for both instruments among various individuals. Moreover, it will show how it affects the overall financial sector in Pakistan and the overall economy through investment, mortgages, lending, employment generation, banking sector growth, and financial inclusion.

Topic 4: Islamic vs. Conventional Bonds, which Absorb Global Economic Shocks Better? A Case of Sukuk vs. Conventional International Bonds during COVID-19

Research Aim: This study compares Islamic and conventional bonds to absorbing global economic shocks such as high inflation, high oil and gas prices, global economic uncertainty, global pandemics, supply chain disruptions, etc. It will compare how the performance of Islamic and conventional bonds varies with the global financial situation. It will use COVID-19 as a case study of how it affected the returns on Islamic vs. conventional bonds. Moreover, it will show how global economic and political power affects these bonds.

Topic 5: Is Islamic Finance Acceptable in Wall Street? The Role Played by Islamic Financial Companies in the US Financial Sector

Research Aim: This research sheds light on the role played by Islamic financial companies in the US financial sector. It will find how Islamic companies are listed on the New York stock exchange (NYSE) and other major exchanges in the US? How do these companies raise capital in the US? What is their financial performance as compared to their non-Islamic counterparts? Moreover, it will determine whether these companies have significant contributions to the US economy or are still outcasts?

Covid-19 Islamic Finance Research Topics

Topic 1: impact of coronavirus on islamic finance.

Research Aim: This study will address the impact of Coronavirus on Islamic finance.

Topic 2: The role of Islamic finance during COVID-19

Research Aim: This study will address the contribution and implications of Islamic finance during COVID-19.

Topic 3: Global Islamic banking and COVID-19

Research Aim: This study will focus on the situation of global Islamic banking, including the challenges and measures to overcome those challenges during COVID-19.

Islamic Finance Research Topics 2021

Topic 1: international conference on islamic finance 2021.

Research Aim: This research aims to conduct an in-depth study of the international conference on Islamic finance 2021.

Topic 2: Entrepreneurship in Islam- a literature review

Research Aim: This research aims to identify the role of entrepreneurship in Islam and conduct a literature review to draw evidence-based conclusions.

Topic 3: Customers satisfaction with Islamic banking

Research Aim: This research aims to evaluate the customer’s satisfaction with Islamic banking

Topic 4: Concept of profitability in Islamic Vs. Conventional banks

Research Aim: This research aims to conduct a comparative study on the concept of profitability in Islamic and Conventional banks.

Evaluating the Islamic Types of Investments – Which One is the Most Profitable?

Research Aim: Islamic finance is a vast field. To understand how it works and what opportunities it presents, we must understand its offers. Among the different types of Islamic finances available, the various sources of Islamic funds, etc. There are different types of Islamic investment opportunities one can invest in.

As a religion, Islam does not allow interest earned on any investment. This study will be an exciting one. The thesis will discuss all the available types of Islamic investments and the type of returns they offer.

Each investment instrument will be evaluated based on what it offers and how people can earn a return on their investments. This research will be based on statistics and qualitative data and discuss which type of investment could be the most profitable.

Understanding the Fundamentals of Islamic Finance and How it Works

Research Aim: Islamic finance is an exciting field. The more you learn about it, the more curious you become about how it operates, what rules and standards it follows, and what returns the system offers.

This research will explore the basics of Islamic finance, i.e. how the system was developed, its guiding principles, and the rules and regulations set. Most importantly, the research will cite examples from the Holy Quran and include fatwas from renowned Muslim scholars regarding investment and finance.

The thesis will prove a stepping stone for researchers looking to learn Islamic finance and how it should be implemented for the best outcome for the borrower and the investor.

How Can ResearchProspect Help?

ResearchProspect writers can send several custom topic ideas to your email address. Once you have chosen a topic that suits your needs and interests, you can order for our dissertation outline service which will include a brief introduction to the topic, research questions , literature review , methodology , expected results , and conclusion . The dissertation outline will enable you to review the quality of our work before placing the order for our full dissertation writing service !

Comparative Study of Traditional and Islamic Finance

Research Aim: Traditional banking is something that everyone is aware of. From basic accounts to loans and investment opportunities, banks offer their customers all sorts of money-making opportunities. However, they charge interest on loans and offer interest payments to account holders and different investment schemes.

This is exactly the opposite of what Islamic banking offers. Islamic finance and banks run on a basic rule of profit and loss sharing. If the bank or financial institution earns profits, they are shared according to a certain fixed percentage. In cases where the institutions suffer losses, the same is shared/deducted from investors’ earnings.

This thesis will focus on the main difference between the two types of banking, focusing on investment instruments, etc. The research will then conclude which banking is favourable for society and how people can gain more.

Islamic Finance and Economic Development: How Does Islamic Finance Law Contribute?

Research Aim: Many Islamic finance proponents argue that Islamic Finance helps people earn more in the right manner. Still, it also helps them build a society and contribute to the well-being of people.

This study will discuss how finance and banking help individuals borrow and lend and how Islamic finance contributes to societies’ economic development.

The thesis will conclude by suggesting new and innovative ways for the banking and finance industry to help people struggling with finances and assist the economy by offering friendly investment opportunities and loans.

How Interest-Free is Islamic Interest-Free Banking?

Research Aim: Islamic finance is usually considered a system that does not directly benefit the people. Many experts believe that Islamic finance is interest-free only on the surface but applies interest as ‘hidden charges’ or renames the term ‘interest.’

While this holds for a few financial institutions, the bigger picture might be a little different. Islamic finance is interest-free and can run successfully if appropriately and implemented accurately, as many Islamic researchers claimed.

This research will provide an in-depth analysis of how successful Islamic finance has been, how it works interest-free, and how people benefit from it. The research will also negate notions of Islamic finance, i.e. the system is not interest-free. Moreover, the thesis will investigate how the system works concerning Islamic teachings and how people benefit from them.

Important Notes:

As a student of Islamic finance looking to get good grades, it is essential to develop new ideas and experiment on existing Islamic finance theories – i.e., to add value and interest in your research topic.

Islamic finance is vast and interrelated to many other academic disciplines like finance, management , and project management . That is why it is imperative to create an Islamic finance dissertation topic that is particular, sound, and actually solves a practical problem that may be rampant in the field.

We can’t stress how important it is to develop a logical research topic based on your entire research. There are several significant downfalls to getting your topic wrong; your supervisor may not be interested in working on it, the topic has no academic creditability, the research may not make logical sense, and there is a possibility that the study is not viable.

This impacts your time and efforts in writing your dissertation , as you may end up in the cycle of rejection at the initial stage of the dissertation. That is why we recommend reviewing existing research to develop a topic, taking advice from your supervisor, and even asking for help in this particular stage of your dissertation.

While developing a research topic, keeping our advice in mind will allow you to pick one of the best Islamic finance dissertation topics that fulfil your requirement of writing a research paper and add to the body of knowledge.

Therefore, it is recommended that when finalizing your dissertation topic, you read recently published literature to identify gaps in the research that you may help fill.

Remember- dissertation topics need to be unique, solve an identified problem, be logical, and be practically implemented. Please look at some of our sample Islamic finance dissertation topics to get an idea for your own dissertation.

How to Structure your Islamic Finance Dissertation

A well-structured dissertation can help students to achieve a high overall academic grade.

• A Title Page
• Acknowledgements
• Declaration
• Abstract: A summary of the research completed
• Table of Contents
• Introduction: This chapter includes the project rationale, research background, key research aims and objectives, and the research problems. An outline of the structure of a dissertation can also be added to this chapter.
• Literature Review : This chapter presents relevant theories and frameworks by analysing published and unpublished literature on the chosen research topic to address research questions . The purpose is to highlight and discuss the selected research area’s relative weaknesses and strengths whilst identifying any research gaps. Break down the topic and key terms that can positively impact your dissertation and your tutor.
• Methodology : The data collection and analysis methods and techniques employed by the researcher are presented in the Methodology chapter, which usually includes research design , research philosophy, research limitations, code of conduct, ethical consideration, data collection methods, and data analysis strategy .
• Findings and Analysis : Findings of the research are analysed in detail under the Findings and Analysis chapter. All key findings/results are outlined in this chapter without interpreting the data or drawing any conclusions. It can be useful to include graphs, charts, and tables in this chapter to identify meaningful trends and relationships.
• Discussion and Conclusion : The researcher presents his interpretation of results in this chapter and states whether the research hypothesis has been verified or not. An essential aspect of this section of the paper is to link the results and evidence from the literature. Recommendations with regards to implications of the findings and directions for the future may also be provided. Finally, a summary of the overall research, along with final judgments, opinions, and comments, must be included in the form of suggestions for improvement.
• References : This should be completed following your University’s requirements
• Bibliography
• Appendices : Any additional information, diagrams, and graphs used to complete the dissertation but not part of the dissertation should be included in the Appendices chapter. Essentially, the purpose is to expand the information/data.

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To find Islamic finance dissertation topics:

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The Role of Culture on Islamic Finance: A Comparative Analysis from Islamic Finance Permitting Countries

• Published: 27 November 2023

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• Nafith Fayez AL-Hersh   ORCID: orcid.org/0000-0003-2963-4253 1 &
• Tajul Ariffin Masron 1  

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Despite the inclusion of cultural elements in hundreds of business and management research studies, there have been relatively few studies in finance, and Islamic finance just recently seems to have discovered the impact of culture. Through this study, culture has been proposed as the next possible means to improve the Islamic finance industry. By utilizing data from 2012 to 2019, this paper aims to empirically examine the effects of culture, proxied by education, on Islamic finance in 45 Islamic finance-permitting countries by using generalized method of moments (GMM) estimators. We find significant effects of culture in Islamic finance in all regions except for developed countries and other Arab countries, which are still in their infancy in the field of Islamic finance. Developed countries need to change their educational system in Islamic finance to reflect the real, Shariah-based ethics of Islam rather than secular humanism, while other Arab countries should pay more attention to the Islamic finance industry. Thus, it is important to consider the culture and open the door to the new discipline of “Islamic cultural finance” in the development of the Islamic finance industry.

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AL-Hersh, N.F., Masron, T.A. The Role of Culture on Islamic Finance: A Comparative Analysis from Islamic Finance Permitting Countries. J Knowl Econ (2023). https://doi.org/10.1007/s13132-023-01579-0

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A bibliometric analysis of quality research papers in Islamic finance: evidence from Web of Science

ISRA International Journal of Islamic Finance

ISSN : 2289-4365

Article publication date: 31 December 2020

Issue publication date: 6 July 2021

The purpose of this study is to provide quantitative information on the growth of Islamic finance literature. The study focused on publishing trends, countries producing research on Islamic finance, key authors, major contributing organizations, authorship patterns, keywords and articles with the highest citations.

Design/methodology/approach

Bibliometric analysis is applied to analyse the growth and publishing trends in Islamic finance literature. The Web of Science (WoS) database was used to extract bibliometric data covering the period 1939–2019 for Islamic finance literature.

The study finds that Islamic finance research has gained remarkable momentum in the literature. However, such growth is largely manifested in Malaysia because of a conducive atmosphere for this type of research. Interestingly, the study finds that the three most productive journals are located in the UK and Malaysia, while Professor M. Kabir Hassan from the University of New Orleans, the USA appears to head the list of authors with 23 publications on Islamic finance.

Practical implications

This study provides up-to-date literature on the current state of Islamic finance in the world; as a result, it supports the development of policies by the Islamic finance industry. The findings of the study also serve as a reference point for Islamic finance training and educational institutions.

Originality/value

Islamic finance is an emerging financial discipline; as such, there is a need for more awareness of this financial system in the world. Muslim-majority countries, especially Saudi Arabia, Turkey, Indonesia, the United Arab Emirates (UAE), Pakistan and Bahrain, have to include Islamic finance in their curriculum and establish research institutions and research journals. In addition, Arabic language journals should be indexed in WoS and/or Scopus to provide a high-quality publication platform. This study provides a more comprehensive bibliometric analysis on the growth of Islamic finance literature (1939–2019) in the WoS database; most of the prior studies have covered relatively few areas of focus and a lower range of years in some cases.

• Bibliometric
• Islamic banking – bibliometric
• Islamic finance
• Islamic finance – bibliometric
• Research productivity – Islamic finance

Tijjani, B. , Ashiq, M. , Siddique, N. , Khan, M.A. and Rasul, A. (2021), "A bibliometric analysis of quality research papers in Islamic finance: evidence from Web of Science", ISRA International Journal of Islamic Finance , Vol. 13 No. 1, pp. 84-101. https://doi.org/10.1108/IJIF-03-2020-0056

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Copyright © 2020, Bashir Tijjani, Murtaza Ashiq, Nadeem Siddique, Muhammad Ajmal Khan and Aamir Rasul.

Published in ISRA International Journal of Islamic Finance . Published by Emerald Publishing Limited. This article is published under the Creative Commons Attribution (CC BY 4.0) licence. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this licence maybe seen at http://creativecommons.org/licences/by/4.0/legalcode

Introduction

Islamic finance is a system that is based on Islamic principles and values. It eliminates ribā (interest) and ensures a financial system, which is ḥalāl (permissible). It is characterized by the absence of interest-based financial institutions and transactions, doubtful transactions or uncertainty ( gharar ), stocks of companies dealing in unlawful activities and unethical or immoral transactions such as market manipulation, insider trading and short-selling ( Naqvi, 1977 ; Khan, 1995 ; Al-Jarhi, 2016 ; Öndeş et al. , 2019 ). Since its modern inception in the 1960s, the Islamic finance industry has operated mainly through five sub-sectors: Islamic banking, takāful (Islamic insurance), other Islamic financial institutions, ṣukūk (Islamic investment certificates) and Islamic funds. The demand for Sharīʿah-compliant products and services has over the years recorded significant growth with global assets of the Islamic financial services industry reaching US$2.44tn as of 2019 ( The Islamic Financial Services Board, 2020 ). The Islamic Financial Services Board (2020) reveals that the Islamic finance industry achieved a moderate growth of 11.4% in 2019 as compared to 3% in 2018. Assets held by the global Islamic banking sector grew by 2% to US$1.77tn in 2019 from US$1.57tn in 2018 while those of takāful increased by 1% over the same period. Assets held by other Islamic financial institutions were reported to have witnessed some decline. The slowdown in growth was attributed to slowdowns in the industry’s leading markets, notably Iran, Saudi Arabia and Malaysia ( ICD-Refinitiv, 2019 ; Islamic Financial Services Board, 2020).

Islamic finance is evolving rapidly and continues to expand to serve a growing population of Muslims and non-Muslims; it is not confined to traditional Muslim and Arab markets. The active role of the UK in its development is described by some experts as a “standalone” experiment in the development and promotion of Islamic finance outside the Muslim and Arab worlds. In addition, the role of some US financial institutions in the development and promotion of Islamic finance is notable ( Ahmid and Öndeş, 2019 ).

The first academic journal dedicated to Islamic finance was launched in 1983 by King Abdulaziz University, Saudi Arabia and was followed by a similar publication from the Islamic Research and Training Institute (IRTI), which is also located in Saudi Arabia. To date, a number of studies have been carried out on the subject of Islamic finance; some of these studies have focused on bibliometric analysis of Islamic finance literature ( Al-Jarhi, 2016 ; Lone, 2016 ; Shehatta and Mahmood, 2017 ; Firmansyah and Faisal, 2019 ; Rahman et al. , 2020 ). The bibliometric studies are largely related to Islamic banking and finance, ṣukūk literature, PhD dissertations and Islamic economics literature. Other studies have analysed the state of research journals and high-quality papers in Scopus and Web of Science (WoS).

Most of the literature on bibliometric analysis of Islamic finance has covered relatively few areas of focus and a lower range of years in some cases. For example, some studies have just analysed the literature on ṣukūk investment, PhD dissertations and in some instances analysis of articles published in one journal. Thus, a more comprehensive bibliometric study that focuses on more subjects and/or topics in the WoS journals might reveal a different conclusion. The WoS database has shown an upward trend in the publishing of high-quality research papers in Islamic finance ( Lone, 2016 ).

What are the emerging trends in Islamic finance research during 1939–2019?

What are the most productive countries, authors, journals and organizations?

What are the authorship patterns of Islamic finance researchers?

What are the most frequently used keywords in Islamic finance research?

Which paper received the highest citations?

The remainder of this paper is organized as follows. The second section presents a brief review of the related literature while the third section outlines the methodology used. The fourth section presents the results obtained from the bibliometric analysis. Discussion of the results is presented in the fifth section. The last section concludes the paper.

Literature review

it enables an overview of the scientific literature;

it provides a critical and objective summary of selected scientific papers; and

it entails analysis of data that may have more relevance than subjective analyzes ( Andrés, 2009 ; Shehatta and Mahmood, 2017 ).

A small number of bibliometric analyses have been conducted of Islamic finance literature; these studies have focused specifically on Islamic banking and finance ( Narayan and Phan, 2019 ), investment in ṣukūk literature ( Paltrinieri et al. , 2019 ; Rahman et al. , 2020 ) and PhD dissertations carried out in the field of Islamic finance ( Ahmid and Öndeş, 2019 ). Others have analysed the state of research journals and high-quality papers in Scopus and WoS ( Ridhwan et al. , 2013 ; Lone, 2016 ). In addition, some studies have focused on the evaluation of Islamic economics literature ( Firmansyah and Faisal, 2019 ).

Table 1 provides a summary of selected studies that have conducted a bibliometric analysis of Islamic finance literature. Most of the studies shown in the table covered the period 2000–2019 ( Harande, 2008 ; Ridhwan et al. , 2013 ; Lone, 2016 ; Ahmid and Öndeş, 2019 ). Few studies covered a longer period of time ranging from 1950 to 2019 ( Othman et al. , 2009 ; Paltrinieri et al. , 2019 ; Rahman et al. , 2020 ). A visual inspection of Table 1 reveals that the studies have different focuses, have used different approaches and have arrived at different conclusions. These studies provide a basis of comparison for the current study, which is focused on wider themes and concentrates on a much longer period of time. For example, Harande (2008) carried out a bibliometric analysis of Islamic economics literature that sought to find the periodic growth, author patterns, geographical origin and language of dispersion in the literature.

The study by Harande (2008) was based on 51 publications collected from a journal titled Thoughts on Economics for the period 2000–2006, covering seven years of data. He found that 77% of the published papers emanated from Bangladesh while the remaining 23% were shared amongst nine countries. More than 70% of the publications were by a single author. In total, 88% of the publications were in the English language while publications in Urdu constituted 19.6%. Surprisingly, none of the publications was in Arabic. In addition, Othman et al. (2009) conducted a co-citation analysis of Islamic finance literature. The authors focused on highly co-cited authors, highly cited documents, highly cited themes, research fronts and the strength of the co-cited documents. They found that research fronts in Islamic finance strongly focused on ribā and the contribution from Islamic economics. They also documented that highly co-cited authors were from an Islamic economics background.

Ridhwan et al. (2013) conducted a bibliometric analysis of articles published by The Journal of Muamalat and Islamic Finance Research over a period of eight years (2004–2011). The authors analysed 91 articles. Data from each volume of the journal were collected and statistically analysed by using the SPSS software. This study examined many variables, including authorship patterns, length of articles, number of articles published, author’s productivity, contributing institutions and subject area patterns. Dual authorship was found to be prevalent, accounting for 57% of the published articles during the period. The paper also revealed that 80% of the articles were published in English. More recently, Lone (2016) analysed the state of research journals and high-quality papers in Scopus and WoS over the period 2000–2016. The study concentrated on the growth rate, articles indexed, yearly data of papers, number of papers, author scores, university/institution scores and country scores. The author found a significant increase in the number of new journals and published articles from 2012 to 2014. On the affiliation of authors, the study ranked three Malaysian universities as having the highest number of authors followed by the USA and UK, respectively. Surprisingly, Saudi Arabia was fifth on the list.

Narayan and Phan (2019) focused on Islamic bank performance, equity market performance, asset pricing, Islamic bonds, market interactions and ethical issues in finance. The study surveyed 112 articles that were published in top journals. They found that the topic of research is deeply skewed towards bank performance followed by equity market performance.

ṣukūk overview and growth;

ṣukūk and finance theories; and

ṣukūk and stock market behaviour.

nature of SRI ṣukūk ;

competitiveness of SRI ṣukūk ; and

determinants of SRI ṣukūk .

The paper also suggested that there was a high level of collaboration between authors from Malaysia, Australia and the USA.

Ahmid and Öndeş (2019) analysed PhD dissertations on Islamic banking and finance in the UK for a period of 19 years (2000–2018). The authors drew a general map in terms of title, author gender, university, the year and number of dissertations. Data were obtained from the database of the British Library. The study revealed that more than 70% of the dissertations were authored by male candidates and that Durham University had the highest number of dissertations amongst the UK universities.

A recent study by Ali and AlQuradaghi (2019) investigated the academic polemics, stakeholder perceptions and publishing prospects for Islamic economics and finance (IEF) research. To achieve these objectives, the authors used both quantitative and qualitative methods in their study. Specifically, they searched through selected databases to identify leading journals and publishing outlets for IEF research. The study also conducted a survey of IEF experts and interviewed major stakeholders with a view to determining the current trends and future perspectives of IEF research. They documented an increasing interest in IEF research and research output over the past three decades. Firmansyah and Faisal (2019) also conducted a bibliometric analysis on the performance of Islamic economics and finance journals. The data were derived from journals published by Indonesian universities. The study revealed the top five IEF journals in Indonesian universities and the 10 most productive researchers.

Methodology

Bibliometric analysis is an established quantitative method to investigate publishing patterns of scholarly work and it is mostly used in library and information science research to investigate the publishing trends and patterns of topics under investigation. Hence, this study applies a bibliometric analysis in the field of Islamic finance.

The WoS database was used at Imam Abdulrahman Bin Faisal University (IAU), Dammam, Saudi Arabia in September 2019 and data were retrieved on 12 September 2019. WoS is one of the largest peer-reviewed and authentic indexing and abstracting databases of scientific literature. The study is restricted in the document types that it covers, including only articles, proceedings, reviews and book chapters.

The targeted data were retrieved applying the following search queries in the main searching box of WoS: “Islamic Finance*” OR Musharaka OR Sukuk OR “Islamic Capital Market*” OR Takaful OR “Islamic Insurance” OR Mudaraba OR Kafalah OR Murabaha OR Gharar OR Mudarib OR “Bai Inah” OR Musharaka OR Qirad OR Waqaf OR Zakat OR Zakah OR “Qard Hasan” OR Mutajara OR Tawarruq OR Maysir OR Riba OR “Islamic Accounting” OR “Islamic Investment Partnership” OR “Islamic Leasing” OR Istisnaa OR “Bai Al Ajel” OR “Bai al Arboon” OR “Islamic guarantee*” OR “Islamic Bond*” OR “Islamic Tax*” OR “Ijarah” OR “Islamic Charity*” OR “Islamic Trust*” OR “Islamic Stock*” OR “Islamic equity fund*” OR “Islamic Funds”.

After running the above query, the following WoS category: “business finance or ethics or economics or business or management or religion or social sciences interdisciplinary or law or computer science theory methods or international relations or history or political science or planning development or humanities multidisciplinary or computer science information systems” was selected.

The excluded types of documents were “early access or editorial material or correction or letter or book review”. The total results contained 1,235 records. Each record was counter-checked to ensure the relevancy of the data. This practice helped to remove 25 irrelevant records and a total of 1,210 records were found to be correct for data analysis. There was no language filter applied while data retrieving and more than 95% of records were in English (1,167) followed by Malay (14), Turkish (11), Russian (10), French (2), Czech (2) and one each from Spanish, Polish, Indonesian and Croatian. The accuracy of the results was ensured by repeating this process. The researchers used MS Excel, MS Access and VOS-viewer software for data analysis.

Publishing trends in Islamic finance

Figure 1 highlights the chronological distribution of publications on the subject of Islamic finance literature. It shows that the first article was published in 1939 but it did not obtain any citation. However, the first significant publication was noted in 1987; it obtained 68 citations. Publications peaked over the years 2015 and 2019 with 191, 206, 249, 245 and 98 publications in each year, respectively. The year 2017 was remarkable with 249 publications. Similarly, citations of these publications peaked over the period 2010–2017. The 191 publications of 2015 got a maximum of 707 citations.

Country-wise comparison of Islamic finance research

Comparison of Islamic finance research productivity by the top-10 countries is presented in Table 2 . The table shows that only three countries have more than 100 publication records. Malaysia was top in the list with 540 records and was far ahead of other countries with, for example, the UK registering 126 records, followed by the USA with 111 records and others. The United Arab Emirates (UAE) was the last country on the list showing only 39 records.

Most productive journals producing literature on Islamic finance

Table 3 presents the top 10 journals publishing Islamic finance literature. It shows that the Journal of Islamic Accounting and Business Research ranked highest, producing 70 publications on Islamic finance, followed by the International Journal of Islamic and Middle Eastern Finance and Management , producing 60 publications and the Malaysian journal Al-Shajarah , with 46 publications. The last journal in the top-ten list was the Journal of Islamic Marketing with 18 publications.

In respect of citations, the journal Pacific-Basin Finance Journal from The Netherlands, which ranked fourth in the list with 29 publications, received a maximum of 344 citations. Similarly, the journal Research in International Business and Finance , also belonging to The Netherlands, produced 19 publications, but it received 110 citations. Both journals were from The Netherlands and were the highest impact factor journals on the list. This shows that high impact factor journals are cited most frequently as compared to low or non-impact factor journals.

Most prolific authors in the Islamic finance literature

The study also investigated the most prolific authors in Islamic finance ( Table 4 ). Professor M. Kabir Hassan from the University of New Orleans, USA, was top in the list of most prolific authors in Islamic finance with 23 publications getting 79 citations, followed by Umar A. Oseni from International Islamic University Malaysia with 20 publications getting 53 citations. It is worth mentioning that out of the 10 most prolific authors, six belong to Malaysia, two to the USA, one to Turkey and another one to Saudi Arabia. Another interesting aspect was the high citation number received by the publications of Professor Shawkat Hammoudeh from the University of Kansas, USA. He was the last in the most prolific authors’ list with 11 publications but he received a maximum of 222 citations.

Authorship patterns

The authorship pattern in Islamic finance is also presented with publications, publications percentage, citations and citation impact ( Table 5 ). A total of 1,210 articles/book chapters received 3,703 citations with 17.92 citations impact. Two-authors were the top trend of publishing in Islamic finance with 353 publications, followed by single authors with 349 publications and three-authors with 331 publications. The least pattern was nine-authors with only one publication and no citation. However, most citations (1,126) were from the three-author category with 3.40 citations impact. It is interesting to note that the four-author pattern published 120 articles but obtained a maximum citation impact of 4.53.

Highly productive research organization

The top-20 institutions producing research on Islamic finance is presented in Table 6 . All of the institutions produced more than 10 publications. Most of the institutions belong to Malaysia. The International Islamic University Malaysia is on top and far ahead of other universities/institutions with 186 publications. Universiti Teknologi MARA is second with 112 publications. The two universities at the bottom of the list, University Brunei Darussalam and Qatar University have each produced 11 publications.

Type and language of publications

There are four categories in document type: articles, proceedings, review articles and book chapters. Research articles were the most important and dominant document type in Islamic finance. Out of the total of 1,210 records, 924 were articles (76.36%), 259 were proceedings (21.4%), 26 were review articles (2.15%) and one was a book chapter ( Figure 2 ).

The publication language is presented in Table 7 . It is remarkable that out of a total of 1,210 records, English ranked first with 1,167 publications followed by Malay (14), Turkish (11), Russian (10), French (2), Czech (2) and one each from Spanish, Polish, Indonesian and Croatian. It is surprising to note that there is no publication written in the Arabic language which is indexed in WoS. It might be that Arabic articles will not be indexed in WoS until they are translated into English. In fact, the WoS hosts a separate index called the “Arabic citation index” to index Arabic articles.

Keyword analysis

The most frequently used keywords in Islamic finance literature are presented in Table 8 . Out of 3,065 keywords used in the publications, 64 met the threshold criteria (minimum occurrence of a keyword is seven). A threshold is an automated system in the VOS-viewer software that generates keywords on the basis of occurrence. Islamic finance emerged as a top keyword with a frequency of 393. There were five major keywords that had a frequency of over 100 and three keywords having a frequency of over 200, i.e. Islamic finance (393), Sharīʿah/Shariah (249) and Islamic banking (207). The least used keywords ranked at 25 th and 26 th positions were “insurance” and “emerging markets” with a frequency of 11.

Top-10 highly cited articles on Islamic finance

The most cited top-10 articles are listed in Table 9 . Four articles in the top-10 were cited more than 100 times. The article “How ‘Islamic’ is Islamic Banking”? By Khan (2010) in The Journal of Economic Behaviour and Organization received a maximum of 142 citations. This is not surprising as Islamic banking is a major sub-sector in the Islamic finance industry; as a result, there was an increased interest by researchers in this area to ensure that the Islamic banking sub-sector is fully explored and understood. The next most cited article is “social reporting by Islamic banks” by Maali et al. (2006) which received 114 citations. The third and fourth articles obtained 109 and 104 citations, respectively. The article least cited in the list was “ sukuk vs conventional bonds: A stock market perspective” published by Godlewski et al. (2013) with 50 citations.

This paper seeks to provide a bibliometric analysis of the development of Islamic finance literature in WoS indexed journals over the period 1939–2019, covering 80 years of data. A number of interesting points emerged from the results presented in the third section.

Firstly, there was an appreciable rise of publications on Islamic finance in the past five years covered in this study (i.e. 2015–2019). Such a remarkable surge in the Islamic finance literature might be connected with a similar rise in the number of journals that provide additional outlets for such publications. The absence of similar research efforts might be responsible for the low number of publications in Saudi Arabia, Indonesia, Pakistan, the UAE and other countries that have contributed to the literature in Islamic finance.

Secondly, another factor that can explain the high number of publications from Malaysian universities is the conducive atmosphere, which has been created by the government and research and training institutions operating in the country. Governmental support has always been a significant factor in driving the development of the Islamic finance market in Malaysia. Research and training centres on Islamic finance in Saudi Arabia, Iran, Pakistan, Bahrain and the UAE should be encouraged to publish more articles on Islamic finance. In addition, Islamic finance should be included in the curriculum of undergraduate students of social and management sciences (i.e. finance, management, accounting, business administration and economics). In Saudi Arabia, two universities, notably Al-Imam Mohammad Ibn Saud Islamic University (IMSIU) and King Abdulaziz University, are at the forefront of Islamic finance research and should be encouraged and supported to produce more research on Islamic finance in both Arabic and English. At present, WoS has a separate index called Arabic Citation Index which indexes Arabic articles. This Arabic Citation Index should be searched to examine the indexing of Islamic finance articles written in Arabic. There is a need for high-profile journals on Islamic finance (such as ISRA International Journal of Islamic Finance published in Arabic) to collaborate with WoS and Scopus to provide such a platform. In addition to providing a platform for journals in the Arabic language, the WoS may explore other languages such as Urdu, Persian or Hindi.

Thirdly, nine out of the 10 most cited articles on Islamic finance were fairly recent. These studies were published from 2006 to 2018, which indicates that Islamic finance as a discipline is gaining momentum. Only one study was conducted in 1987. This momentum needs to be maintained by all stakeholders of this emerging field of knowledge. Another interesting finding was that some of these studies were carried out by non-Muslims, which showed how the topic of Islamic finance has gained acceptance in the literature.

Fourthly, the current study confirms earlier findings on the growth of Islamic finance literature. The results in the third section reveal a significant rise in the number of articles that have recently been published in top-ranking journals. However, this study is in a number of ways an extension of prior literature; it has covered more themes and 80 years of prior literature in Islamic finance. On the other hand, Lone (2016) analysed the state of research journals and high-quality papers on Islamic finance for only 16 years covering seven related themes. Similarly, Othman et al. (2009) and Narayan and Phan (2019) conducted bibliometric analysis and focused on a fewer number of themes than this study. More recently, the studies by Paltrinieri et al. (2019) and Rahman et al. (2020) were limited to one theme, i.e. ṣukūk literature.

Fifthly, results from the current study contradict Lone’s (2016) findings on publishing trends due to disparity in the publishing dates. This study documents 2015–2019 as the peak period while Lone (2016) found 2012–2014 as the most prolific period on Islamic finance publications. The reason why the peak period is different in Lone’s study is that the study was undertaken most probably in 2015, and therefore at that time the peak period for publications was 2012–2014. Our study confirms the findings of Lone (2016) on research productivity in which Malaysia, the USA and the UK were ranked first, second and third, respectively. Our finding is also similar to that of Othman et al. (2009) , who concluded that Islamic finance is strongly focused on ribā and contributions from Islamic economics.

This paper provides a bibliometric analysis of the growth of Islamic finance literature in WoS indexed journals over the period 1939–2019. In recent years, research on Islamic finance appears to be gaining momentum in the literature. However, such a rise is largely manifested in Malaysia due to a more conducive atmosphere for this kind of investigation. Countries such as Saudi Arabia, Iran, Turkey, Indonesia, the UAE, Pakistan and Bahrain should increase their efforts to support research in Islamic finance. King AbdulAziz University was one of the early institutions that contributed to the emergence of Islamic finance as a discipline; however, this pioneering effort has been overtaken by Malaysian universities, training centres and research institutes. More support should be extended to Saudi universities and research institutes (such as IRTI). The establishment of more research institutes and the inclusion of Islamic finance as a course at the university level will go a long way in improving research in this area. Similar efforts would improve the current state of Islamic finance research in Bahrain, the UAE, Pakistan and other countries that have made some modest contribution in Islamic finance literature. At present, ISRA publishes an Arabic journal in Islamic finance with the same title as the English journal, i.e. ISRA International Journal of Islamic Finance (Arabic) . However, this Journal is not indexed so far. We recommend that this important journal should be indexed in the WoS Arabic citation index. In addition, more Arabic journals in Islamic finance need to be developed by other institutions, especially in the Arab world.

This is a bibliometric study and is limited to one abstracting and indexing database, i.e. WoS. The research is further limited to the literature on Islamic finance published till 2019. The study is also restricted in the document types that it covers, including only articles, proceedings, reviews and book chapters. It would be interesting if further research could be undertaken to compare the output and quality of publications in Islamic finance and mainstream finance.

This study is helpful in understanding the current status of Islamic finance literature in respect of publishing trends, top countries, authors, organizations, journals and frequently used keywords for Islamic finance studies. The study reveals that Islamic finance has gained significant growth in the literature. Hence, it is the need and role of Muslim-majority countries to create awareness about Islamic finance by including it as a subject in the curriculum and promoting more multilingual research, especially in languages such as Arabic and other local languages (besides English) to help local communities better understand the operations of Islamic finance. The countries should also encourage the inception of more journals on Islamic finance to create more platforms for publishing research in this area. In this regard, government support and the role of the academic community will play a crucial role.

Chronological distribution of publications ( n = 1210) in Islamic finance (1939–2019)

Document type frequency in Islamic finance

Summary of selected studies that conducted a bibliometric analysis of Islamic finance literature

Comparison of Islamic finance research productivity of top-10 countries

Top-10 journals publishing Islamic finance research

Most prolific authors in Islamic finance

Authorship patterns in Islamic finance

Top-20 research producing institutions in Islamic finance

Language as a publishing trend in Islamic finance

Keywords of Islamic finance literature with frequency

Most cited articles on Islamic finance

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Corresponding author

About the authors.

Bashir Tijjani, PhD, is a Professor of Accounting and Finance at Imam Abdulrahman bin Faisal University, Dammam, Kingdom of Saudi Arabia. He was formerly the Head of Accounting and Dean of the Faculty of Social and Management Sciences at Bayero University, Kano, Nigeria. He was also the pioneer Dean of the Faculty of Management Sciences at the same university.

Murtaza Ashiq has an MPhil in Information Management from the University of the Punjab, Lahore. Currently, he is working as a Lecturer at the Library and Information Science, Islamabad Model College for Boys, H-9, Islamabad, Pakistan. Prior to this, he worked as Librarian at FG Inter College, Jhelum Cantt. His areas of interest are bibliometric analysis, library leadership, qualitative research, mobile learning and library service quality.

Nadeem Siddique, PhD, is Head of Library, Lahore University of Management Sciences, Lahore, Pakistan. He earned his doctorate from the University of the Punjab, Pakistan. He has more than 20 years of teaching, research and professional experience at the university level in Saudi Arabia and Pakistan. His research interests focus on library automation, library software, content analysis and bibliometrics. He is a founding member and Vice President of the Pakistan Library Automation Group (PakLAG).

Muhammad Ajmal Khan is Head, Library Quality and Academic Accreditation, Deanship of Library Affairs, Imam Abdulrahman Bin Faisal University, Dammam, Kingdom of Saudi Arabia. He has more than 25 years of research and professional experience at the university level in Pakistan and Saudi Arabia. His research interests focus on library automation, library software and bibliometrics. He is also a founder of the PakLAG.

Aamir Rasul is an Assistant Professor at the Department of Library and Information Science, The Islamia University of Bahawalpur, Pakistan. His areas of interest are academic libraries, library automation, digital library, institutional repository, bibliometric study and online information retrieval.

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Empirical Essays on Islamic Finance and Sustainable Development Nexus: Sources of Growth, Socio-Economic Development, and Degrowth

HENDRANASTITI, NUR,DHANI (2019) Empirical Essays on Islamic Finance and Sustainable Development Nexus: Sources of Growth, Socio-Economic Development, and Degrowth. Doctoral thesis, Durham University.

Growth and development have been the central objective of economic policy making all over the world, for which the financial sector has been an essential instrument. However, with the emergence of ‘financialisation’, the focus has shifted to financial resources as the source of economic growth and their gain at the expense of other stakeholders. Consequently, among other things, social welfare and environmental health have been negated, which has created pervasive economic and social inequality. To moderate the consequences of neo-liberal economic policy, since the 1970s a number of alternative positions have emerged. The Islamic economics movement, as one of such movements, emerged as a counter-hegemonic movement, aimed at rescuing ‘human, land, labour and capital’ so that extended stake-holding governance can be achieved. Within this paradigm, Islamic finance is expected to essentialise justice and beneficence and equalize development opportunities for all stakeholders so that they can fulfil their development path towards perfection. Islamic finance is expected to operate and produce consequences according to the substantive morality of Islam and its principles, as opposed to the institutional logic of conventional finance. In order to assess the performance of Islamic finance in relation to the Islamic moral economy, this essay-based research, hence, aims to explore the relationship between Islamic financial development and sources of growth, socio-economic indicators, and environmental degradation. The first essay in this research aims at examining the contribution of Islamic financial development on the sources of growth in the form of capital accumulation and total factor productivity growth in a number of sampled countries for the period 1989-2014. The variables of Islamic financial development explored include: the operational activities of Islamic banks, sectoral financing provided by Islamic banks, the mode of financing employed by Islamic banks, and the volume of sukuk issuance. Following the theoretical finance-growth nexus, this essay employs the ordinary least squares (OLS) method, comprising static and dynamic panel estimation for countries having Islamic banks and issuing sukuk. The results show that Islamic banks with higher capital adequacy ratio and lower non-performing loans display a positive relationship with capital accumulation growth. On the other hand, Islamic banks with higher operational costs have higher capital accumulation and total factor productivity growth. In relation to sectoral financing and types of contract used for financing, it seems that Islamic banks still focus on profitability, rather than productivity. The results from the sukuk market is not much different, showing that sukuk has lower impact to the ‘real’ economy. The second essay explores and examines the contribution of Islamic finance to socio-economic development as measured by various indices related to social, economic, governance, and environmental development for a sample of countries during the period 1989-2014. In the analysis, social indicators, such as health, education, technology, and life expectancy, are included in measuring development. In order to support socio-economic development, it is believed that financing is necessary to provide funds for building the necessary infrastructure, or through supporting economic growth to increase individual purchasing power. Employing linear and non-linear empirical models, the results show that the volume of sukuk issuance has not been able to support socio-economic development, which needs to reach a certain threshold to be able to support the gender development index and the gender inequality index. Additionally, the intermediating Islamic banking variable through financial inclusion index shows that Islamic banks can support socio-economic development by serving more consumers in their operational activities. The third essay examines the impact of Islamic finance on the fulfilment of the Islamic moral economic objective of sustainability in terms of de-materiality and degrowth by analysing the relationship between Islamic financial development and its impact on carbon emissions for a sample of countries during the period 1989-2014. This essay aims to identify the sustainable development impact of Islamic finance by considering CO2 emissions as the initial benchmark and an environmental health indicator. In addition, this essay considers financing provided by Islamic banks for different sectors, its types of contracts, and also the volume of sukuk issuance and their relationship with carbon emissions. The OLS method-based results show that the degrowth and ‘Islamic moral economy’ is located in the positive relationship between financing of the consumer durables sector and the volume of CO2 emissions from fossil fuels. This should, however, be considered as an evidence for Islamic bank operations taking place under the linear growth model and mainstream economic framework, although Islamic banks still may provide financing for productive activities through profit-loss sharing. Therefore, this essay suggests that Islamic banks and financial institutions are embedded in the institutional logic of capitalism rather than fulfilling the aspirations of Islamic moral economy.

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Dissertations / Theses on the topic 'Awareness of Islamic finance'

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Tahmina, Tanita Noor. "The Barriers to, and Incidence of, Islamic Banking and Finance in Canada." Thèse, Université d'Ottawa / University of Ottawa, 2013. http://hdl.handle.net/10393/26246.

Salleh, Murizah Osman. "Essays in Islamic finance." Thesis, Bangor University, 2013. https://research.bangor.ac.uk/portal/en/theses/essays-in-islamic-finance(75b5d16d-79e9-4510-b2e6-740cd10d2458).html.

Kaakeh, Abdulkader. "Behavioural finance in islamic finance, a new approach." Doctoral thesis, Universitat Autònoma de Barcelona, 2018. http://hdl.handle.net/10803/650338.

Chuk, Tabina Sophie. "Islamic Finance for Poverty Alleviation." Thesis, The University of Arizona, 2012. http://hdl.handle.net/10150/273058.

Pock, Alexander von. "Strategic management in islamic finance /." Wiesbaden : Deutscher Universitäts-Verlag, 2007. http://catalogue.bnf.fr/ark:/12148/cb41324124s.

Lall, Rabia D. "Islamic finance versus conventional finance and the taxation consequences." Master's thesis, University of Cape Town, 2013. http://hdl.handle.net/11427/5905.

Gad, Samar. "Essays on Islamic finance and banking." Thesis, De Montfort University, 2017. http://hdl.handle.net/2086/17602.

Merdad, Hesham J. "Two Essays in Islamic Finance and Investment." ScholarWorks@UNO, 2012. http://scholarworks.uno.edu/td/1467.

Galadima, Waziri Mohammed. "Islamic home finance in the United Kingdom." Thesis, University of Newcastle upon Tyne, 2015. http://hdl.handle.net/10443/2919.

Fleifel, Bilal A. "Risk management in Islamic banking and finance the Arab Finance House example /." View electronic thesis (PDF), 2009. http://dl.uncw.edu/etd/2009-3/fleifelb/bilalfleifel.pdf.

Ebrahim, Bint Nur. "Islamic finance: a low risk, value-adding alternative." Master's thesis, Faculty of Commerce, 2019. http://hdl.handle.net/11427/31344.

Kazimov, Magsud. "Implication ways of Islamic Finance in the modern context." Master's thesis, Vysoká škola ekonomická v Praze, 2015. http://www.nusl.cz/ntk/nusl-206017.

Adamsson, Hampus. "Essays on Islamic equity investing." Thesis, University of St Andrews, 2015. http://hdl.handle.net/10023/7800.

Zougari, Laghrari Mohammed. "La finance islamique entre pérennité et fragilité." Thesis, Perpignan, 2014. http://www.theses.fr/2014PERP1204.

Salem, Rami Ibrahim A. "The relationship between earnings management and volunary disclosure quality in Islamic and non-Islamic banks : the case of Mena Region." Thesis, University of Central Lancashire, 2018. http://clok.uclan.ac.uk/25455/.

Balala, Hanaan. "A study of islamic law and english common law on aspects of islamic finance securitisations." Thesis, University of Oxford, 2010. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.530014.

Ullah, Karim. "Adaptable service-system design : an analysis of Shariah finance in Pakistan." Thesis, Brunel University, 2014. http://bura.brunel.ac.uk/handle/2438/8281.

Abdullrahim, Najat. "Service quality of English Islamic banks." Thesis, Bournemouth University, 2010. http://eprints.bournemouth.ac.uk/15833/.

Ahmad, Abu Umar Faruq. "Law and practice of modern Islamic finance in Australia." View thesis, 2007. http://handle.uws.edu.au:8081/1959.7/38404.

Abalkhil, Waleed Abdulaziz Abdullah. "Islamic finance in Saudi Arabia : developing the regulatory framework." Thesis, University of Exeter, 2018. http://hdl.handle.net/10871/33596.

Hamed, Mai Mohamed Awad. "Constructing justice : a practice-dependence approach to Islamic finance." Thesis, University of Birmingham, 2017. http://etheses.bham.ac.uk//id/eprint/7414/.

Tahir, Muhammad Rehan. "A new approach to product development in Islamic finance." Thesis, Massachusetts Institute of Technology, 1994. http://hdl.handle.net/1721.1/47878.

Abdul, Samad Eleena Masnee. "The perception of Malaysian Muslims concerning Islamic housing finance." Thesis, Durham University, 2007. http://etheses.dur.ac.uk/1842/.

Khoshroo, Sajjad. "Islamic finance : the convergence of faith, capital, and power." Thesis, University of Oxford, 2018. http://ora.ox.ac.uk/objects/uuid:0ab321e8-0d54-40d6-a1ef-3a37a0a5ffe6.

Kapetanovic, Harun. "Islamic finance and economic development : the case of Dubai." Thesis, King's College London (University of London), 2017. https://kclpure.kcl.ac.uk/portal/en/theses/islamic-finance-and-economic-development(08c39f10-b3a1-40c6-a645-43909422073a).html.

Mohd, Dali Nuradli Ridzwan. "Islamic credit card users' satisfaction : a comparative study." Thesis, Cardiff University, 2014. http://orca.cf.ac.uk/61777/.

Dusuki, Asyraf Wajdi. "Corporate social responsibility of Islamic banks in Malaysia : a synthesis of Islamic and stakeholders' perspectives." Thesis, Loughborough University, 2005. https://dspace.lboro.ac.uk/2134/7725.

Ahmed, Eltegani Abdelgader. "Islamic banking : distribution of profit (case study)." Thesis, University of Hull, 1990. http://hydra.hull.ac.uk/resources/hull:3752.

Jabr, Muhammad Hisham Mustafa. "The marketing of the Islamic banks' services in Jordan." Thesis, University of Glasgow, 1989. http://theses.gla.ac.uk/30781/.

Zul, Kepli Mohd Yazid Bin. "Islamic finance & maritime trade: economic, legal and regulatory challenges." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2012. http://hub.hku.hk/bib/B50534038.

Alsheikh, Abdulaziz Abdulrahman A. "The regulation of systemic risk in conventional and Islamic finance." Thesis, University of Kent, 2017. https://kar.kent.ac.uk/66379/.

Ismail, Badroen. "Potential use of Islamic finance among Muslims in Port Elizabeth." Thesis, Nelson Mandela Metropolitan University, 2017. http://hdl.handle.net/10948/17526.

Almajed, Muath Abdulaziz M. "Islamic project finance in Saudi Arabia : regulatory and legal challenges." Thesis, University of Leeds, 2017. http://etheses.whiterose.ac.uk/16361/.

Abduni, Leila Mohamad. "The emergence of Islamic finance: an exploratory study of Brazil." reponame:Repositório Institucional do FGV, 2018. http://hdl.handle.net/10438/23913.

Terrell, Ronald G. "Islamic banking financing terrorism or meeting economic demand?" Thesis, Monterey, Calif. : Naval Postgraduate School, 2007. http://bosun.nps.edu/uhtbin/hyperion-image.exe/07Dec%5FTerrell.pdf.

Muscat, Michaela. "Banking on the divine : everyday Islamic banking practices in Malaysia." Thesis, London School of Economics and Political Science (University of London), 2015. http://etheses.lse.ac.uk/3180/.

Kok, Seng Kiong. "Islamic finance and the global economy : an exploration of risk management and governance within Shariah finance." Thesis, University of Liverpool, 2014. http://livrepository.liverpool.ac.uk/18815/.

Jan, Shafiullah. "A critique of Islamic finance in conceptualising a development model of Islam : an attempt in Islamic moral economy." Thesis, Durham University, 2013. http://etheses.dur.ac.uk/8503/.

Hj, Besar Mohd Hairul Azrin. "Exploring the governance of Takaful (Islamic insurance) in Brunei." Thesis, University of Glasgow, 2017. http://theses.gla.ac.uk/7810/.

Hayek, Ali. "An evaluation of Islamic versus conventional banks' efficiency : a global study." Thesis, University of Huddersfield, 2016. http://eprints.hud.ac.uk/id/eprint/30305/.

Kügler, Daniel. "Islamic finance : neue Ansätze bei Immobilientransaktionen und deren Finanzierung in Deutschland /." Berlin : Weissensee-Verl, 2009. http://d-nb.info/99374575X/04.

Zyp, Victoria Lynn. "Islamic finance in the United States product development and regulatory adoption /." Connect to Electronic Thesis (CONTENTdm), 2009. http://worldcat.org/oclc/457045392/viewonline.

Alaydan, Sultan. "Islamic finance, Sharia non-compliance and the standardisation of Sharia governance." Thesis, University of Westminster, 2016. https://westminsterresearch.westminster.ac.uk/item/q2w26/islamic-finance-sharia-non-compliance-and-the-standardisation-of-sharia-governance.

Al-Mannai, Muna Ahmed. "Investors' rights, transparency and information in equity based Islamic finance : an exploration into Islamic private equity in the GCC." Thesis, Durham University, 2017. http://etheses.dur.ac.uk/12437/.

Husman, Jardine. "Essays on banking and monetary policy in the presence of Islamic banks." Thesis, University of Warwick, 2015. http://wrap.warwick.ac.uk/67164/.

Alkiyumi, Aiman Hamed Said. "Information asymmetry, credit risk, and profitability in Islamic and conventional banks." Thesis, University of Glasgow, 2018. http://theses.gla.ac.uk/8907/.

Alhabashi, Khaled. "Financing for small and medium enterprises : the role of Islamic financial institutions in Kuwait." Thesis, University of Gloucestershire, 2015. http://eprints.glos.ac.uk/3428/.

Fang, Shihao Eddy. "The diffusion of Shariah-based knowledge in global finance : a cognitive investigation among Western economic agents." Thesis, University of Cambridge, 2013. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.608053.

Mohd, Zamil Nor Aiza. "An empirical investigation into the problems and challenges facing Islamic banking in Malaysia." Thesis, Cardiff University, 2014. http://orca.cf.ac.uk/68349/.

Warsame, Mohamed Hersi. "The role of Islamic finance in tackling financial exclusion in the UK." Thesis, Durham University, 2009. http://etheses.dur.ac.uk/23/.

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Institute for Islamic finance, Halal economics, Islamic marketing and Islamic Business Administration

Dissertation Topics

Dissertation topics in islamic finance, islamic banking, takaful and islamic accounting.

These are the dissertation or thesis proposal. Researchers are free to develop based on these themes. This proposal includes banking, product development, risk management, performance, economics, corporate governance, marketing, information technology, strategic management, human resource management, micro-financing, Sharia board, and contemporary thoughts.

Note : These are samples can be modified as per user requirements

Islamic finance dissertation topics

Islamic banking

Compare the customer deposits between Islamic and conventional bank

The sources of uses of funds in Islamic banks – country or region-specific comparative analysis

Islamic banking experiences: A country comparative analysis or study

Islamic Banking in the ……. (country): Opportunities and threats

Islamic Banking Theories and Practices: country analysis

Islamic banking windows/ system into Conventional Banking Systems

Islamic Finance: As an alternative social responsible and ethical investing.

Islamic Financial Institutions and Products

Legal and ethical issues in Islamic banking

Transferring from conventional to Islamic banking

Current account contracts in Islamic banking : A comparative study between Islamic contracts of Amanah, Qard Hasan, Wadiah

The dominance of sales and lease based transactions in assets of Islamic banks  : comparative study.

Financial Reporting for Islamic financial institutions

Islamic bank’s investment deposits disclosures (are the disclosures done credit -debtor relationship or basic mudarabah partnership or Wakala partnership)

Assets side of Islamic banks comparison with the conventional bank’s asset side

The liability side of Islamic bank comparison with the conventional bank’s assets side.

Disclosure of Mudarabah investment in Islamic banks

Difference between AAOIFI disclosures and IFRS for Islamic banks

Does AAOIFI disclosure contradict with IFRS  disclosure requirements?

Disclosure of Charity funds of Islamic banks

How does Zakath funds are distributed in Islamic banks

Cash flow statement of Islamic banks and how does it differ from conventional banks

Change in Stockholder’s equity of Islamic bank and conventional banks

Mudarabah Investment distribution account of Islamic banks

Islamic Financial Instruments

Islamic Financial Instruments development

The role of Sharia’a boards in Islamic financial instrument development

Islamic banking product to help the international trade

Murabaha or Ijara : The best financing

Mudaraba or Musharaka : The best equity financing

Murabaha Financing vs. Conventional leasing: cash flow and risk analysis

Cooperation with….

Study on How do Islamic bank cooperate with conventional bank in international trade

Study on How do Islamic bank cooperate with central banks in conventional environment

Structure and functions

The function of commercial banking: Compare the Islamic and conventional banks

Structure of Islamic bank : compare with the conventional bank

Internalization of Islamic banks

Customer relationship between the conventional and Islamic banks

Profit and Loss sharing mechanism of Islamic Bank

Interbank transaction of Islamic bank – current system and proposals

Interbank borrowing of Islamic banks

Tawarruq as a tool of interbank borrowing

Interbank bench mark for Islamic banks – proposals

Developing Islamic financial instruments to ease the interbank transaction

Mergers and Acquisition

Cross border mergers and acquisition of Islamic banks

Do mergers or acquisition will affect the efficiency of Islamic banks

Islamic banks entry – from a country perspective

Bank’s failure

Analysis of Islamic banking failures

Why Islamic banks does are more resistance to failure

Corporate governance, accounting and Risk management

Risk management in Islamic banks

Risk management practices comparative analysis for conventional and Islamic banks

Credit risk management of Islamic banks/Islamic financial institutions (IFI)

Liquidity risk management of Islamic banks (IFI)

Asset and Liability management of Islamic banks/IFI

Commercial risk management of Islamic banks/IFI

Sharia compliant risk management of Islamic banks/IFI

Performance and credit risk management of Islamic banks

Performance and ALM of Islamic banks

Profitability and risk management of Islamic banks and IFI

Analysis of derivatives instruments by Islamic banks

Islamic derivatives markets

Hedging techniques used by Islamic banks (country or regional specific)

Effectiveness of hedging techniques used by Islamic banks

Is profit rate swap and interest rate swap same in terms of payoff?

Differentiating conventional forward or future market with Islamic Salam based products

Options: developing Islamic options products

Developing Islamic hedging products based on Juala or bay al arbun contracts

Financial engineering in Islamic finance industry: Country comparison.

Financial engineering in Islamic finance for way forward ..

Corporate social responsibility

Islamic bank and corporate social responsibility

Islamic banking and poverty alleviation

Corporate Social Responsibility of Islamic Banks

CSR and profitability of Islamic banks

How corporate governance is different from conventional banking and Islamic banking

Performance

Performance of Islamic bank and conventional bank in a selected country

Measuring the productivity of Islamic banking

Islamic Banks performance in industrial lending

Measuring the performance of Islamic Banks

Performance of Islamic banks during the financial crises

Comparative analysis of performance of Islamic banks and conventional banks during the financial crises/ post or during.

Customer relationship, marketing and strategy

Investigating the Customer Relationship Management in Islamic banks – (case can be taken from any bank or country perspective)

Investigating the customer loyalty in Islamic banks

Identifying the competitive strategy of Islamic banks: a comparison with conventional banks

Developing a model for customer loyalty in Islamic banks

Brand management of Islamic Financial institutions

Customer loyalty for Islamic banks

Consumer behavior for Islamic credit cards

Customer perception of Islamic banking windows in Conventional Banks

Investigating the CRM activities in Islamic Banks

Switching behavior of Conventional banks to Islamic Banks – An international perspective

Ethical marketing for Islamic banking

Credit crises

Islamic mortgage system as a solution for current credit crises

The effect of credit crises in Islamic banking

Measuring the effect of credit crises in Islamic Banking

Islamic banks less affected by credit crises

History, development and challenges

Development or establishment of issues of Islamic banking – in particular country or region

Islamic Banking in (country) – Development, perspectives and evolution

Challenges faced by the Islamic banks

Challenge: Arabic terminology – Merits and demerits

Knowledge management and Islamic finance education

Islamic banking and knowledge management

Knowledge Management in Islamic banks

Skill gap and recruitment gap for Islamic financial institution

Employer preference of Online versus traditional degrees in Islamic qualification

How effective Islamic finance education to cater the growing demand.

Sharia’a board

Sharia’a Boards in Islamic banks

Influence of religious boards or Sharia’a councils in Islamic banks

How effective Sharia audits

Fatwa unification for Islamic banks

Standardization or harmonization of Fatwas in Islamic banking/IFI industry.

Islamic Economics

Fiscal policy Islamic economy

Islamic banking and (country’s) growth

Islamic finance industry and (Country’s) growth

Inflation in Islamic economy

How Islamic economy can reduce the inflation

Contribution of Islamic economy in infrastructure development of developing country

How the choices made by human race in Islamic economic system with scare resources

Is resource scare in Islamic Economy?

Opportunity cost from Islamic Economics perspectives

Reducing the effects of climate change

Development of SME in Islamic based economies

Islamic economy and Adams Smith a comparative study

Labor migration in Islamic economy

Unemployment and Islamic economic system

How Islamic economic system can reduce the unemployment

Solution for unemployment under the Islamic economy

Poverty alleviation in Islamic economy

Islamic economic model as solution for global economic crises

International trade under Islamic economic model

Foreign exchange depreciation and appreciation in Islamic economic model

Micro finance in Islamic economy

How Market equilibrium decided in Islamic economy

Comparative analysis of socioeconomic development of Islamic economy and socialist economy

Comparative analysis of socioeconomic development of Islamic economy and capitalistic economy

How the Islamic economic models contribute to the productivity increase

Contribution of Islamic economy for financial stability and macroeconomic gains

Capital mobility in Islamic economic system

Islamic finance system and economic growth

Islamic banks in poverty alleviation

Economical functions of Islamic Financial Market

How Islamic banks can help in Economic Development

Islamic Capital Market

How does an Islamic financial market works

Investment: An Islamic perspective

Development or Growth of Islamic capital market

The products in Islamic capital market

Filtering the stocks for Islamic investments

Valuing the Sukuk

Developing Hybrid Sukuk to cater to various needs of Islamic banks or governments

Green Sukuk as corporate social responsibility.

Comparative analysis of conventional bonds interest rate with profit rates of Sukuk.

Risk management practices for Sukuk

Sharia compliant issues for Sukuk structuring

Development Sukuk market and country’s economic indicators

Compare Value at Risk between Sukuk and conventional bonds

Micro Financing

Micro Financing in Islamic finance industry: For country developments.

Islamic micro financing techniques

Structuring new products for Islamic micro financing

Micro finance increases access to credit for poor in developing countries

Social finance: gives access to charities and social enterprises access to finance.

Islamic entrepreneurial finance

Islamic social finance

Islamic Insurance

How ethical Takaful compared to conventional insurance

Comparative analysis of Takaful industry with conventional insurance (country or region specific)

Performance of Takaful industry

Customer perception of Takaful system

Developing Takaful model

Private Equity and Venture capital

Islamic venture capital bank

Islamic mode of financing for venture capitalists

Islamic private Equity investments

Islamic financing for startups

Mudaraba based PLS for venture capitalists

Vulture financing using Islamic contracts

Islamic Real Estate Market

Islamic mode of financing for real estate properties

Comparative analysis of Islamic and conventional Real estate financing

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39 Islamic Finance Dissertation Topics Ideas

Islamic Finance Dissertation Topics: Throughout the world, Islamic finance and its related aspects are gaining a lot of interest with every passing day. Therefore, Islamic finance dissertation topics can be seen as applicable to different countries’ financial institutions. These are the best Islamic finance dissertation topics picked by our experts. Also, check related posts for […]

Islamic Finance Dissertation Topics: Throughout the world, Islamic finance and its related aspects are gaining a lot of interest with every passing day. Therefore, Islamic finance dissertation topics can be seen as applicable to different countries’ financial institutions.

These are the best Islamic finance dissertation topics picked by our experts. Also, check related posts for finance dissertation topics and accounting and finance dissertation topics .

Best Islamic finance dissertation topics for college students

Islamic Finance refers to the provision of financial services in accordance with Shari’ah Islamic law, principles, and rules. Shari’ah does not permit receipt and payment of “riba” (interest), “gharar” (excessive uncertainty), “maysir” (gambling), short sales, or financing activities that it considers harmful to society.

Given below is an extensive list of dissertation topics in Islamic finance:

• Islamic finance and banking: a review of the literature.
• Studying the relationship between Islamic finance and industrial policy in X country.
• Global financial order and Islamic finance: challenges and opportunities involved.
• Studying the sharia compliance in case of Islamic finance contracts: a review of the literature.
• Studying the determinants of Islamic finance in China’s belt and road initiative.
• Correlational analysis of the relationship among Islamic finance, financial inclusion policy, and financial inclusion in X country.
• The role played by global Islamic finance in the Gulf region: a systematic analysis.
• Relationship of Islamic finance with economics and law: a descriptive analysis.
• How the global markets utilize Islamic finance in their financial knowledge: a review of the literature.
• Global Islamic finance: studying the dynamic challenges on a global level.
• The Islamic banking industry and the resolutions of online disputes: a systematic analysis.
• Investigating an Islamic financing perspective on the macro-prudential policies: a review of the literature.
• Relationship between the Islamic bank rates and conventional bank interest rates: a systematic analysis.
• Islamic financial industry: introspective reflections.
• Islamic finance in a non-Muslim country: a descriptive analysis.
• Comparative analysis of Islamic finance and banking in developing versus developed countries of the world.
• Association between Islamic bank disclosures and Islamic corporate social responsibility.
• Islamic banking and finance in a capitalist economy: a systematic analysis.
• How the global Sukuk industry is affected by blockchain technology? Focus on challenges and interventions.
• Correlation of Sukuk spreads, economic uncertainties, and macroeconomic announcements.
• Studying Malaysia as an Islamic financial frontier: a descriptive analysis.
• Comparative analysis of Al Rayyan Islamic Index and Qatar exchange index.
• Islamic bonds (Sukuk): a theoretical review of the literature.
• Development and governance of Islamic finance and banking in X country: a quantitative study.
• Investigating the financial performance of Islamic mutual funds in different countries.
• Islamic equities: challenges and interventions involved.
• The role played by the global Sharia elite in the management of the Islamic finance and banking sector.
• Asset pricing and Islamic economy: a review of the literature.
• An Islamic mortgage contract and role played by consumer choice: a correlational study.
• Relationship of corporate finance, Islamic law, and investors’ rights: a descriptive study.
• Effects of the size of Islamic banking on the growth of the industry: a qualitative study.
• Sustainability in Islamic finance and banking: challenges and interventions involved.
• Financing modes, efficiency, risks and profitability in Islamic finance and banking: a review of the literature.
• Digital Sukuk and COVID-19 pandemic: focus on the aspect of investment decisions.
• Comparative analysis of Islamic and conventional banking on the aspects of efficiency, business orientation, and credit quality in businesses.

Above is the best list of Islamic finance research topics. If you are still looking for some unique dissertation topics fill out the form below to get dissertation topics mini proposal service on your requirements. Click here to place an order on Islamic finance at 25 % discounted rates.

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Home » Blog » Dissertation » Topics » Finance » Islamic Finance » 80 Islamic Finance Research Topics

80 Islamic Finance Research Topics

FacebookXEmailWhatsAppRedditPinterestLinkedInWelcome to the realm of academic exploration, where research and topics intertwine to pave the path for your scholarly journey in Islamic Finance. As undergraduate, master’s, or doctoral students, the quest for the perfect research topic to shape your thesis or dissertation can be both exhilarating and challenging. Delving into the intricate world of Islamic […]

Welcome to the realm of academic exploration, where research and topics intertwine to pave the path for your scholarly journey in Islamic Finance. As undergraduate, master’s, or doctoral students, the quest for the perfect research topic to shape your thesis or dissertation can be both exhilarating and challenging. Delving into the intricate world of Islamic finance opens up many possibilities where modern financial practices merge with age-old principles rooted in faith.

Islamic finance is a financial system guided by Sharia principles that prohibit interest (riba) and promote ethical and socially responsible investment, ensuring transactions adhere to Islamic law. It encompasses a range of financial instruments and practices designed to align with Islamic beliefs and values.

In this guide, we will navigate through a diverse array of compelling research topics, aiming to inspire and assist you in selecting a subject that not only captivates your interest but also contributes to the ever-evolving landscape of Islamic finance scholarship.

A List Of Potential Research Topics In Islamic Finance:

• Sukuk market challenges and opportunities in African economies.
• Islamic trade finance challenges and innovations in cross-border trade.
• Comparative analysis of Islamic and ethical investment strategies.
• Challenges and opportunities in implementing Islamic fintech regulations.
• Shari’a governance frameworks in Islamic financial institutions.
• Sukuk defaults and restructuring mechanisms: Lessons learned.
• Fiqh considerations in structuring Sharia-compliant financial products.
• Islamic trade finance instruments and their adaptation to modern trade practices.
• Waqf and its potential for poverty alleviation in contemporary Islamic finance.
• Regulatory challenges of cross-border transactions in Islamic finance.
• Sukuk market development and potential for infrastructure financing in the UK.
• Role of fintech in enhancing transparency in Islamic financial transactions.
• Comparative analysis of Islamic and conventional microfinance models.
• Regulatory challenges and opportunities in global Islamic financial markets .
• Zakat and its impact on social welfare in Muslim-majority countries.
• Cross-border mergers and acquisitions in the Islamic banking sector.
• Role of Islamic finance in post-disaster economic recovery.
• Ethical considerations in Islamic finance investments in the UK market.
• A critical review of Waqf-based financing models for sustainable development projects.
• Exploring the potential of blockchain for enhancing transparency in Islamic finance.
• Literature review on the role of fintech in transforming Islamic financial services.
• Islamic fintech solutions for agricultural and rural development.
• Sukuk issuance and its role in infrastructure development.
• Legal and regulatory aspects of Islamic fintech partnerships.
• Role of Islamic finance in addressing income inequality.
• Exploring the Ethics and Application of Islamic Principles in Personal Finance Management.
• Implications of the Basel III framework on Islamic banking operations.
• Islamic capital market integration and harmonization across jurisdictions.
• Comparing consumer perceptions and preferences between conventional and Islamic financial services in the UK.
• Muslim venture capital and its role in supporting entrepreneurship.
• Changing consumer behaviour and preferences in Islamic financial services post-COVID-19.
• Shari’a compliance issues in cryptocurrency trading platforms .
• Comparative study of Islamic and conventional derivatives.
• Resilience and adaptation of Islamic financial institutions during the COVID-19 pandemic.
• Islamic finance and social impact investing post-COVID-19.
• Sukuk market’s role in supporting green and sustainable projects.
• Islamic pawnbroking and its relevance in modern economies.
• Challenges of applying Islamic finance principles in non-Muslim majority countries.
• Critical review of the evolving landscape of Islamic finance: Challenges and opportunities.
• Impacts of the pandemic on Sukuk markets and sovereign financing strategies.
• Comparative analysis of risk management practices in Islamic and conventional banking.
• Islamic financial education and its effects on consumer behaviour.
• Challenges and opportunities in ensuring liquidity and capital adequacy for Islamic financial institutions post-pandemic.
• Islamic crowdfunding models and their potential for SME financing.
• Sharia compliance and digital banking transformation.
• Islamic fintech startups and their contributions to financial inclusion.
• Reviewing the impact of ESG criteria on investment decisions in Islamic finance.
• A critical analysis of Sharia-compliant hedging techniques.
• Shari’a compliance and governance frameworks in the UK’s Islamic finance sector.
• Fintech adoption and its implications for the future of Islamic banking: A comprehensive literature review.
• Blockchain technology applications in Sharia-compliant finance.
• Digital transformation in Islamic banking and customer engagement post-COVID-19.
• A systematic review of Sukuk market trends and innovations in structuring.
• Role of Islamic microfinance in supporting economic recovery in pandemic-affected communities.
• Waqf-based financing models for sustainable development projects.
• Islamic finance’s role in supporting the United Nations Sustainable Development Goals.
• Risk management strategies employed by Islamic banks to cope with pandemic-related challenges.
• Fintech’s impact on enhancing financial literacy in Islamic finance.
• Comparative review of risk management practices in Islamic and conventional banking.
• Takaful (Islamic insurance) industry growth and its sustainability.
• Islamic banking’s response to the challenges of the COVID-19 pandemic.
• Measuring financial inclusion in Islamic banking systems.
• Islamic fintech regulatory sandboxes and their implications.
• Regulatory challenges and opportunities for Islamic financial institutions in the UK.
• Role of Islamic finance in supporting affordable housing initiatives in the UK.
• Sustainability and ESG considerations in Islamic finance post-COVID-19.
• Impact of changing demographics on Islamic banking trends.
• Exploring the Application of Quantitative Methods in Evaluating Risk and Return Patterns within Islamic Financial Instruments.
• Role of fintech and digitalization in mitigating disruptions in Islamic finance post-COVID-19.
• Risk management strategies in Islamic banking during market fluctuations.
• Impact of environmental, social, and governance (ESG) criteria on Islamic finance investments.
• Challenges and prospects of establishing Islamic digital banks in the UK.
• Ethical considerations in cryptocurrency usage from an Islamic finance perspective.
• Ethical considerations and responsible investment practices in Islamic finance: A review.
• Application of artificial intelligence in Sharia compliance monitoring.
• A comprehensive review of Shari’a compliance and governance mechanisms in contemporary Islamic financial institutions.
• Role of Islamic finance in promoting financial inclusion and diversity in the UK.
• Sukuk structuring for sovereign financing in emerging markets.
• Fintech and its role in enhancing accessibility to Islamic financial services.
• Islamic capital market integration within the Gulf Cooperation Council (GCC).
• Ethical screening processes in Islamic investment funds .
• Financial technology partnerships between Islamic banks and startups.

In conclusion, Islamic Finance offers diverse research topics for dissertation exploration across various degree levels. From undergraduate studies delving into the fundamentals of Sharia-compliant financial instruments to master’s investigations into the sustainability of Islamic banking models and doctoral inquiries exploring the convergence of Islamic and conventional finance in a global context, the field offers a rich landscape for academic exploration. As the global financial landscape continues to evolve, the research in Islamic Finance holds immense potential for contributing theoretical insights and practical applications to the ever-expanding finance domain.

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Islamic Banking and Finance MBA Dissertation

Related Papers

IOSR Journals

Though Conventional Financial system is contributing swiftly to the Economic development but the Islamic Finance is not lacking behind of it now a days. The Islamic Finance Industry has emerged as one of the component of a rapid economic growth over the past three decades. Initially the activities of Islamic Finance is limited within the country, but at present the growth of Islamic Finance are thought globally with an upward trend through the establishment of various Islamic financial institutions with different shareholders. This paper examines insights into the growth and prospect of Islamic finance in Bangladesh. Islamic Finance is ruled by Islamic Finance Guidelines which is issued and approved by Central Bank of Bangladesh. This system has its own principles and guidelines which would make the system of choice in meeting specific investment needs. It compares Islamic and conventional finance regard to Efficiency and Profitability, Risk Management, and Sukuk and Conventional Bonds. In Bangladesh, the atmosphere is exclusive because of the existence of Islamic Banking sector. But the country has some deficiencies in imposing specific Islamic Finance regulations which have been recognized and efforts are being made to solve the problems by the authorities. JEL Code: E58, F65, G21, G28

Wiwin Musahini

Islamic Banking in Bangladesh: Current Status, Challenges and Policy Options

Md Golzare Nabi

In tandem with the global rapid expansion of Islamic banking, Bangladesh has experienced phenomenal growth in Islamic banking following strong public demand for the system. Since its inception in 1983, Islamic banking industry has recorded robust performance and the industry now accounted for more than twenty percent market share of the entire banking industry in Bangladesh. Though Islamic banking industry in Bangladesh has achieved more than 20 percent annual growth, the industry has immense potentials for further expansion as Bangladesh is a Muslim majority country with a vibrant economy of 6 percent real economic growth over the last decade. To reap the full potentials of Islamic banking, it is imperative to assess the present status of Islamic banking industry in Bangladesh. Given this, the present paper investigated the present status of Islamic banking industry and it also assessed its comparative performance with overall banking industry. To attain the objectives of the paper, required information/data have been collected from the secondary sources and financial ratio analysis approach has been applied. Finally, the paper shed light on challenges faced by the Islamic banking industry and prescribed policy options to meet the challenges.

International Journal of Commerce and …

Hanudin Amin

Purpose – The purpose of this paper is to detail the findings of a study to determine the viability of Islamic banking as a niche for the Labuan International Offshore Financial Center (IOFC). Labuan was declared an IOFC by the Malaysian Government in 1990, with the goal of developing it as a financial “supermarket” offering a wide range of offshore financial products specializing in Islamic finance. Design/methodology/approach – The paper employs the mail survey method to ensure the anonymity of the respondents and the whole population of banks are used, which enables the researchers to ignore the problems of bias in the sampling. Data collected from the survey are analyzed using descriptive statistics, mean, standard deviation, and frequency counts. Findings – The results of the survey indicate that Labuan offshore bankers do not have a clear notion of Islamic banking principles and practices. The results also show that most of the offshore banks do not have officers and staff who are conversant with Islamic banking. Nevertheless, conventional offshore banks are willing to train their officers in Islamic banking skills and participate in future Islamic deals. The findings also indicate that Islamic banking is a viable niche for the Labuan IOFC. However, the results also show that Labuan does not have competitive advantages over Bahrain and London, currently the leading Islamic finance centers in the world. Research limitations/implications – There are three major limitations of this paper. These limitations are further explained in the conclusion's part. Practical implications – There are three major implications of these findings. First, the authorities ought to enhance the knowledge and expertise of the conventional offshore bankers by facilitating training in Islamic banking skills. Acquisition of such knowledge and skills would encourage them to participate in future Islamic banking deals. Second, the industry and the authorities responsible for the IOFC have to be both innovative and creative. In order to convince conventional offshore bankers that Islamic banking is a viable alternative to conventional banking the products and services offered must be seen as value added. A creative tax regime should have a substantial impact in terms of increased profit margin or reduced cost on the part of the offshore banks. Third, improving the physical infrastructure and overcoming the geographical location disadvantage of Labuan should become the priority of the authorities overseeing the development of Labuan as an IOFC. Originality/value – The paper provides fresh results on the viability of Islamic banking operations in Labuan IOFC.

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Alex Eric , Rohana Othman , nooraslinda abdul aris

Zaimy Johana Johan , Mohd Zainee Hussain

Over the past three decades, Malaysian halal finance service has become one of the fastest growing industries, with a range of financial products and services accepted by both Muslims and non-Muslims. Comprising almost 40% of Malaysian population, the non-Muslims are an important market segment for the growth and development of Islamic finance service in the country. Being relatively new in the market, while complementing the conventional banking and financial products, the Islamic financial products and services (Islamic financial products) in Malaysia, more often than not, are faced with stiff competition from conventional financial products particularly in terms of marketing coverage, branding, product packaging and other pivotal aspects such product features, benefits and advantages. Despite the belief that Islamic banking institutions in Malaysia are not well equipped in the marketing and promotion of their Islamic financial products both to corporate and retail markets, there is an immense pressure to stay competitive and to achieve the national goal of shariah-driven ecosystem and overall development of halal industry in Malaysia. Therefore, against the backdrop of the competitive financial industry landscape and development in the country, this paper will examine and delve into the discussion on the crucial attributes of Islamic finance service with focus on knowledge, attitude and level of acceptance of bankers in promoting, marketing and selling Islamic financial products. The bankers' knowledge, attitude and level of acceptance of specific products can induce customer’s perception, awareness and acceptance of the product offered. This study is expected to generate favorable findings that will contribute positively to the knowledge advancement and understanding of Islamic finance service, in particular, towards fostering a healthy and complete offering of shariah compliant financial solutions which can further expand the asset base and outreach of the Islamic finance industry; and subsequently contribute towards increased customer satisfaction and customer loyalty.

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