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EXPLORING THE CHALLENGES OF CONVENTIONAL BANKING PRACTICES AND PROSPECTS OF INTRODUCING AN ISLAMIC BANKING IN TAJIKISTAN: USING QUALITATIVE APROACH
International Journal of Islamic Economics and Finance
View Archive Info| Field | Value | |
| Title |
EXPLORING THE CHALLENGES OF CONVENTIONAL BANKING PRACTICES AND PROSPECTS OF INTRODUCING AN ISLAMIC BANKING IN TAJIKISTAN: USING QUALITATIVE APROACH
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| Creator |
Sharofiddin, Ashurov; College University Insaniah
Idris, Ahmed Fauzi Bin; College University Insaniah Othman, Anwar Hasan Abdullah; International Islamic University Malaysia |
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| Subject |
Islamic banking, Conventional banking, Qualitative method, Tajikistan
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| Description |
The purpose of this research is to explore the challenges of current banking practices in Tajikistan and investigate the prospects of introducing the new Islamic banking system. In which the Islamic banking may help in bring back the trust to the people for dealing with the banking system that will lead to enhance the economy growth. This study applied the qualitative method by conducting in depth interviews with the experts comprising seven respondents. The result of respondents showed that there is list of challenges that current banking practices facing in Tajikistan. This therefore encourage for introducing an Islamic banking system in Tajikistan. Among the challenges in Conventional Banking system that respondents identified are distrust, an interest-based (Ribâ) system, and long processes with complicated systems. This is because the listed challenges by respondents are crippling the entire banking system, if the authority is not concerning for catering the existed challenges. Moreover, the findings signify the challenges of conventional banking practice that the authorities of the country and practitioners must avoid when Islamic banks are established. In addition, the practitioners need to focus on improving the current banking practice to avoid the challenges identified in the study.
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| Publisher |
Universitas Muhammadiyah Yogyakarta
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| Contributor |
—
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| Date |
2018-07-27
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion Peer-reviewed Article |
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| Format |
application/pdf
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| Identifier |
http://journal.umy.ac.id/index.php/ijief/article/view/111
10.18196/ijief.111 |
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| Source |
International Journal of Islamic Economics and Finance (IJIEF); Vol 1, No 1 (2018): IJIEF Vol 1 (1), July 2018; 1-24
2622-4372 2622-3562 |
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| Language |
eng
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| Relation |
http://journal.umy.ac.id/index.php/ijief/article/view/111/3624
http://journal.umy.ac.id/index.php/ijief/article/downloadSuppFile/111/522 |
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| Rights |
Copyright (c) 2018 IJIEF: International Journal of Islamic Economics and Finance
http://creativecommons.org/licenses/by-sa/4.0 |
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