How to Overcome the Challenges Faced to Enhance the Efficiency of Islamic Banking in the Asian Region
The 15th International Multi-Conference on, Complexity, Informatics and Cybernetics (IMCIC 2024): Proceedings 2024
Khalid Mehmood, Karine Oganisjana, Nataļja Lāce

Islamic banking has emerged as an essential part of the global banking network. Despite the rapid rise of the Asian Islamic banking, previous research has largely focused on Islamic banks in specific countries. This study aims to fill the gap in the literature by proposing ways to solve the issues faced by Islamic banks in the Asian region. In this study, the methodology employed was qualitative content analysis. Researchers collected qualitative data from scientific literature written by both Muslim and non-Muslim authors. This approach aims to systematically analyse textual content, integrating both qualitative and quantitative aspects. The paper covered various potential solutions for the betterment of Islamic banks are introducing innovative products, standardizing sharia governance, modernizing financial policies and marketing strategies and developing a strong alliance with CB and other organization, which will enhance the effectiveness and growth of Islamic banks. In addition to these solutions, the study acknowledges that other solutions also develop the establishment and expansion of Islamic banking in the region. By identifying and onboarding these solutions, will help stakeholders, and policymakers in the Islamic banking not only to implement effective strategies and policies to address today’s most pressing challenges, however, also to prepare for and prevent the challenges of tomorrow.


Keywords
Islamic banks, Challenges, solutions, Asia
DOI
10.54808/IMCIC2024.01.200
Hyperlink
https://www.iiis.org/DOI2024/ZA915JV/

Mehmood, K., Oganisjana, K., Lāce, N. How to Overcome the Challenges Faced to Enhance the Efficiency of Islamic Banking in the Asian Region. In: The 15th International Multi-Conference on, Complexity, Informatics and Cybernetics (IMCIC 2024): Proceedings, United States of America, Orlando, 26-29 March, 2024. Orlando: International Institute of Informatics and Cybernetics, 2024, pp.200-208. ISBN 9781950492787. ISSN 2771-5914. Available from: doi:10.54808/IMCIC2024.01.200

Publication language
English (en)
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