Enhancement of Islamic banking industry in Sri Lanka: a view point
The modern Islamic banking industry has been growing in Sri Lanka since 1997 as an alternative banking system to the conventional one. Despite the fact that there are a number of hurdles with regard to its sustainability, it is growing significantly. However, it is imperative to take necessary steps...
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my.iium.irep.683982018-12-22T19:44:30Z http://irep.iium.edu.my/68398/ Enhancement of Islamic banking industry in Sri Lanka: a view point Nafees, Seeni Mohamed Ahmad, Muhamad Hassan Masum, Ahmad Md Dahlan, Nuarrual Hilal K Law (General) KBP Islamic Law KBP1 Islamic law.Shariah.Fiqh The modern Islamic banking industry has been growing in Sri Lanka since 1997 as an alternative banking system to the conventional one. Despite the fact that there are a number of hurdles with regard to its sustainability, it is growing significantly. However, it is imperative to take necessary steps to enhance the industry by expanding the application of Islamic banking products and introducing an alternative dispute resolution mechanism for Islamic banking disputes in accordance with the Shariah. Therefore, this paper aims at evaluating as to what extent Islamic banking products are currently in practice and which mechanism is being employed to resolve disputes that arise between Islamic banking institutions and clients. As such, this paper adopts a qualitative research method in order to accomplish the objectives of the study. Primary sources and secondary sources are used to complete this research. The authors also conducted semi-structured interviews with various stakeholders. This study finds that there are various issues as well as challenges pertaining to the application of Islamic banking products and the dispute resolution mechanism. This paper is expected to contribute to enhance the application of Islamic banking products in Sri Lanka and countries alike where the Islamic banking industry is evolving gradually. Serials Publications 2018-06 Article PeerReviewed application/pdf en http://irep.iium.edu.my/68398/1/SRI%20LANKA%20A%20VIEW%20POINT.pdf Nafees, Seeni Mohamed and Ahmad, Muhamad Hassan and Masum, Ahmad and Md Dahlan, Nuarrual Hilal (2018) Enhancement of Islamic banking industry in Sri Lanka: a view point. Journal of Islamic Law Review, 14 (1). pp. 131-153. ISSN 0973-2918 |
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K Law (General) KBP Islamic Law KBP1 Islamic law.Shariah.Fiqh Nafees, Seeni Mohamed Ahmad, Muhamad Hassan Masum, Ahmad Md Dahlan, Nuarrual Hilal Enhancement of Islamic banking industry in Sri Lanka: a view point |
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The modern Islamic banking industry has been growing in Sri Lanka since 1997 as an alternative banking system to the conventional one. Despite the fact that there are a number of hurdles with regard to its sustainability, it is growing significantly. However, it is imperative to take necessary steps to enhance the industry by expanding the application of Islamic banking products and introducing an alternative dispute resolution mechanism for Islamic banking disputes in accordance with the Shariah. Therefore, this paper aims at evaluating as to what extent Islamic banking products are currently in practice and which mechanism is being employed to resolve disputes that arise between Islamic banking institutions and clients. As such, this paper adopts a qualitative research method in order to accomplish the objectives of the study. Primary sources and secondary sources are used to complete this research. The authors also conducted semi-structured interviews with various stakeholders. This study finds that there are various issues as well as challenges pertaining to the application of Islamic banking products and the dispute resolution mechanism. This paper is expected to contribute to enhance the application of Islamic banking products in Sri Lanka and countries alike where the Islamic banking industry is evolving gradually. |
format |
Article |
author |
Nafees, Seeni Mohamed Ahmad, Muhamad Hassan Masum, Ahmad Md Dahlan, Nuarrual Hilal |
author_facet |
Nafees, Seeni Mohamed Ahmad, Muhamad Hassan Masum, Ahmad Md Dahlan, Nuarrual Hilal |
author_sort |
Nafees, Seeni Mohamed |
title |
Enhancement of Islamic banking industry in Sri Lanka: a view point |
title_short |
Enhancement of Islamic banking industry in Sri Lanka: a view point |
title_full |
Enhancement of Islamic banking industry in Sri Lanka: a view point |
title_fullStr |
Enhancement of Islamic banking industry in Sri Lanka: a view point |
title_full_unstemmed |
Enhancement of Islamic banking industry in Sri Lanka: a view point |
title_sort |
enhancement of islamic banking industry in sri lanka: a view point |
publisher |
Serials Publications |
publishDate |
2018 |
url |
http://irep.iium.edu.my/68398/1/SRI%20LANKA%20A%20VIEW%20POINT.pdf http://irep.iium.edu.my/68398/ |
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1643618594919022592 |
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