Cover IMF Working Papers
Introducing Islamic Banks into Conventional Banking Systems
Author:
Mr. Juan Sole
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Series:
IMF Working Papers
Volume/Issue:
Volume 2007: Issue 175
Language:
English
Publication Date:
01 Jul 2007
DOI:
https://doi.org/10.5089/9781451867398.001
ISBN:
9781451867398
ISSN:
1018-5941
Pages:
26
Keywords:
WP; bank; financial institution; central bank; Islamic bank; financial product
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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Over the last decade, Islamic banking has experienced global growth rates of 10-15 percent per annum, and has been moving into an increasing number of conventional financial systems at such a rapid pace that Islamic financial institutions are present today in over 51 countries. Despite this consistent growth, many supervisory authorities and finance practitioners remain unfamiliar with the process by which Islamic banks are introduced into a conventional system. This paper attempts to shed some light in this area by describing the main phases in the process, and by flagging some of the main challenges that countries will face as Islamic banking develops alongside conventional institutions.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund
Volume 2007: Issue 175