Faithful Finance: Unlocking Banking Islamization in Afghanistan
<p dir="ltr">This paper explores the challenges and prospects associated with the adoption of Islamic banking in Afghanistan. Despite the global growth and acceptance of Islamic banking by approximately 50 countries by 1997, Afghanistan only embraced it between 2008–2009. The decisio...
محفوظ في:
| المؤلف الرئيسي: | |
|---|---|
| مؤلفون آخرون: | , |
| منشور في: |
2023
|
| الموضوعات: | |
| الوسوم: |
إضافة وسم
لا توجد وسوم, كن أول من يضع وسما على هذه التسجيلة!
|
| _version_ | 1864513508213784576 |
|---|---|
| author | Mustafa Disli (17307716) |
| author2 | Ahmad Hatam (19368547) Shakir Jalaly (19160620) |
| author2_role | author author |
| author_facet | Mustafa Disli (17307716) Ahmad Hatam (19368547) Shakir Jalaly (19160620) |
| author_role | author |
| dc.creator.none.fl_str_mv | Mustafa Disli (17307716) Ahmad Hatam (19368547) Shakir Jalaly (19160620) |
| dc.date.none.fl_str_mv | 2023-07-12T09:00:00Z |
| dc.identifier.none.fl_str_mv | 10.3390/economies11070189 |
| dc.relation.none.fl_str_mv | https://figshare.com/articles/journal_contribution/Faithful_Finance_Unlocking_Banking_Islamization_in_Afghanistan/26539492 |
| dc.rights.none.fl_str_mv | CC BY 4.0 info:eu-repo/semantics/openAccess |
| dc.subject.none.fl_str_mv | Commerce, management, tourism and services Banking, finance and investment Economics Applied economics Philosophy and religious studies Religious studies Islamic banking financial sector banking reform Afghanistan IEA |
| dc.title.none.fl_str_mv | Faithful Finance: Unlocking Banking Islamization in Afghanistan |
| dc.type.none.fl_str_mv | Text Journal contribution info:eu-repo/semantics/publishedVersion text contribution to journal |
| description | <p dir="ltr">This paper explores the challenges and prospects associated with the adoption of Islamic banking in Afghanistan. Despite the global growth and acceptance of Islamic banking by approximately 50 countries by 1997, Afghanistan only embraced it between 2008–2009. The decision to convert conventional banks to Islamic ones, driven by the involvement of interest rates (riba) in the prevailing system, necessitates a thorough examination of the challenges and the need for an appropriate response. The study employs qualitative, analytical, and exploratory methods, reviewing secondary sources and conducting unstructured interviews with key stakeholders, including officials from the Da Afghanistan Bank (DAB), staff of Islamic banking institutions, experts in Islamic banking and finance, and consumers. The findings reveal that the challenges in promoting Islamic banking in Afghanistan are more complex and multi-layered than commonly understood, stemming from the legal system, regulatory capacities and mindset, banking services, and public perception. The paper emphasizes the importance of addressing these challenges comprehensively to safeguard the already fragile economic and financial sector. Failure to do so may lead to further deterioration. This research contributes to the existing body of knowledge by shedding light on the unique challenges and prospects of Islamic banking in Afghanistan, providing valuable insights for policymakers, regulators, and practitioners in shaping an effective transformation strategy.</p><h2>Other Information</h2><p dir="ltr">Published in: Economies<br>License: <a href="https://creativecommons.org/licenses/by/4.0/" target="_blank">https://creativecommons.org/licenses/by/4.0/</a><br>See article on publisher's website: <a href="https://dx.doi.org/10.3390/economies11070189" target="_blank">https://dx.doi.org/10.3390/economies11070189</a></p> |
| eu_rights_str_mv | openAccess |
| id | Manara2_3df9c6741763cc784edc73981162d97e |
| identifier_str_mv | 10.3390/economies11070189 |
| network_acronym_str | Manara2 |
| network_name_str | Manara2 |
| oai_identifier_str | oai:figshare.com:article/26539492 |
| publishDate | 2023 |
| repository.mail.fl_str_mv | |
| repository.name.fl_str_mv | |
| repository_id_str | |
| rights_invalid_str_mv | CC BY 4.0 |
| spelling | Faithful Finance: Unlocking Banking Islamization in AfghanistanMustafa Disli (17307716)Ahmad Hatam (19368547)Shakir Jalaly (19160620)Commerce, management, tourism and servicesBanking, finance and investmentEconomicsApplied economicsPhilosophy and religious studiesReligious studiesIslamic bankingfinancial sectorbanking reformAfghanistanIEA<p dir="ltr">This paper explores the challenges and prospects associated with the adoption of Islamic banking in Afghanistan. Despite the global growth and acceptance of Islamic banking by approximately 50 countries by 1997, Afghanistan only embraced it between 2008–2009. The decision to convert conventional banks to Islamic ones, driven by the involvement of interest rates (riba) in the prevailing system, necessitates a thorough examination of the challenges and the need for an appropriate response. The study employs qualitative, analytical, and exploratory methods, reviewing secondary sources and conducting unstructured interviews with key stakeholders, including officials from the Da Afghanistan Bank (DAB), staff of Islamic banking institutions, experts in Islamic banking and finance, and consumers. The findings reveal that the challenges in promoting Islamic banking in Afghanistan are more complex and multi-layered than commonly understood, stemming from the legal system, regulatory capacities and mindset, banking services, and public perception. The paper emphasizes the importance of addressing these challenges comprehensively to safeguard the already fragile economic and financial sector. Failure to do so may lead to further deterioration. This research contributes to the existing body of knowledge by shedding light on the unique challenges and prospects of Islamic banking in Afghanistan, providing valuable insights for policymakers, regulators, and practitioners in shaping an effective transformation strategy.</p><h2>Other Information</h2><p dir="ltr">Published in: Economies<br>License: <a href="https://creativecommons.org/licenses/by/4.0/" target="_blank">https://creativecommons.org/licenses/by/4.0/</a><br>See article on publisher's website: <a href="https://dx.doi.org/10.3390/economies11070189" target="_blank">https://dx.doi.org/10.3390/economies11070189</a></p>2023-07-12T09:00:00ZTextJournal contributioninfo:eu-repo/semantics/publishedVersiontextcontribution to journal10.3390/economies11070189https://figshare.com/articles/journal_contribution/Faithful_Finance_Unlocking_Banking_Islamization_in_Afghanistan/26539492CC BY 4.0info:eu-repo/semantics/openAccessoai:figshare.com:article/265394922023-07-12T09:00:00Z |
| spellingShingle | Faithful Finance: Unlocking Banking Islamization in Afghanistan Mustafa Disli (17307716) Commerce, management, tourism and services Banking, finance and investment Economics Applied economics Philosophy and religious studies Religious studies Islamic banking financial sector banking reform Afghanistan IEA |
| status_str | publishedVersion |
| title | Faithful Finance: Unlocking Banking Islamization in Afghanistan |
| title_full | Faithful Finance: Unlocking Banking Islamization in Afghanistan |
| title_fullStr | Faithful Finance: Unlocking Banking Islamization in Afghanistan |
| title_full_unstemmed | Faithful Finance: Unlocking Banking Islamization in Afghanistan |
| title_short | Faithful Finance: Unlocking Banking Islamization in Afghanistan |
| title_sort | Faithful Finance: Unlocking Banking Islamization in Afghanistan |
| topic | Commerce, management, tourism and services Banking, finance and investment Economics Applied economics Philosophy and religious studies Religious studies Islamic banking financial sector banking reform Afghanistan IEA |