ETIOLOGY OF ISLAMIC FINANCIAL INSTITUTION’S SUCCESS

Abstract

Purpose: 

The purpose of this research paper is to highlight the core features of Islamic Financial Institutions plays vital role in getting competitive and strategic advantages over conventional financial sector. Indeed these institutions engage numerous stakeholders and opt different business models working in full conformity with shariah standards along with fulfillment of nation’s regulations to enhance their profitability and productivity, consequently contribute in boosting the economy. The studies predict their rapid growth and exponential expansion in future but this can only be done finely through streamlining it with Shariah Rulings along with Standardize National Measures& Regulations.

Research Design/ Methodology:

This paper is conceptual and has theoretical aspect and the result generated on the basis of related literature, In-vogue Islamic Banking procedural documentations regarding different modes and shariah based texts along with elaboration of different research questions regarding the subject matter.

Results and Findings:

The study finds different indicators cum issues that need to be address both theoretically and practically with intensions to enhance the acceptability in general public and eradication of confusions of the scholars.

Conclusion:

The Shariah principles have great extended scope to accommodate all sort of businesses whether operates at Macro or Micro Level, associated with individuals or connected with public sector collective property along with having strength and potential to Islamize the Products and Services if proper Islamization Framework executed with its true Spirit.