History of Islamic banking in Malaysia: a general review. International Journal of Islamic Products and Malay Civilization, 2 (1). ISSN 2948-4251 (2023)
Abstract
This study aims to review in general the historical development of Islamic banking in Malaysia. It examines the development of Islamic banking products and services along with the issues, challenges, and prospects of Islamic banking in Malaysia. The research approach is qualitative, and data were collected from various sources such as government and corporate documents, articles, Islamic banking websites and books related to the history of Islamic banking. The study shows that Malaysia is among the best places in the world to practice Islamic banking along with universities and institutions developing knowledge in Islamic finance. The Islamic banking system in Malaysia has been developed gradually and succeeded in line with countries like Bahrain, UAE, Saudi Arabia, Qatar, the United Kingdom, and Pakistan. The study further revealed that Malaysia is currently the leader in developing financial technology for Islamic banking and finance. It was concluded that Islamic finance has come a long way toward becoming a profitable and globally competitive alternative to the conventional banking system.
| Item Type: | Article |
|---|---|
| Keywords: | Islamic Banking, History of Islamic banking, Development, Challenge, Financial technology |
| Taxonomy: | By Niche > Islamic Banking > Banks and Banking > Finance By Niche > Islamic Banking > Banks and Banking > Government Policy By Niche > Islamic Banking > Banks and Banking > Technological Innovations |
| Local Content Hub: | Niche > Islamic Banking |
| Depositing User: | Rosila Nordin |
| Date Deposited: | 05 Jun 2024 08:36 |
| Last Modified: | 05 Jun 2024 08:36 |
| Related URLs: |
Actions (login required)
 |
View Item |