Islamic Finance in Iraq and Indonesia: Comparative Analysis of Regulatory Frameworks, Market Dynamics, and Socio-Economic Impact
Keywords:
Poverty, Students Society, Areas, Teachers, Issues, EconomicalAbstract
This paper gives a comparative synthesis of the evolutionary process and the management of Islamic finance systems in Iraq and Indonesia. Since the above two countries are Islamic and harbor the closest resemblance to the Islamic religion, the governance structures in both these countries have installed mechanisms to monitor banking sectors. To meet the study's objective, this research aimed to establish the characteristic of Islamic financing in Iraq and Indonesia. The content of this report may be useful to many regulatory bodies and bank organizations. The paper explores the general and distinctive trends of the target parameters with other countries and the outlined results that can be important in comparison or discussion while considering the emergence and development of Islamic finance sectors in Iraq and Indonesia.
References
Antonio, M. S. (2001). The Development of Islamic Banking in Indonesia. Journal of Islamic Economics, Banking and Finance, 1(1), 1-23.
Ascarya. (2014). Islamic banking and finance in Indonesia and Malaysia: System, challenges and opportunities. (Doctoral dissertation, University of Canberra).
Beck, T., Demirgüç-Kunt, A., & Merrouche, O. (2013). Islamic vs. conventional banking: Business model, efficiency and stability. Journal of Banking & Finance, 37(2), 433-447.
Dusuki, A. W., & Abdullah, N. I. (2007). Why do Malaysian customers patronize Islamic banks? International Journal of Bank Marketing, 25(3), 142-160.
El-Gamal, M. A. (2006). Islamic finance: Law, economics, and practice. Cambridge University Press.
Hassan, M. K., & Mahlknecht, M. (2011). Islamic capital market products and services: Principles and practice. John Wiley & Sons.
Bukhari (1999), Sahih Bukhari, Dar-al-Salam, Al-Riyadh, Hadith no :51
Bukhari (1999), Sahih Bukhari, Dar-al-Salam, Al-Riyadh, Hadith no :336
Muslim (1999), Sahih Muslim, Dar-al-Salam, Al-Riyadh, Hadith no: 2325
Muslim (1999), Sahih Muslim, Dar-al-Salam, Al-Riyadh, Hadith no :2288
International Monetary Fund (IMF). (2017). Islamic Finance: Opportunities, Challenges, and the Way Forward.
Iqbal, Z., & Mirakhor, A. (2011). Islamic Finance in Iraq and Indonesia: Development and Challenges. Singapore: John Wiley & Sons (Asia) Pte Ltd.
Kamali, M. H. (2019). Islamic Finance in Theory and Practice. UK: Edward Elgar Publishing.
Khan, M. F. (2010). Islamic banking and finance: What it is and what it isn't. Edward Elgar Publishing.
Kuran, T. (2004). Islam and Mammon: The economic predicaments of Islamism. Princeton University Press.
Sahih Bukhari (1999), Dar-al-Salam, Al-Riyadh, Hadith no: 336
The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). (2018). Financial Accounting Standards.
The Qur’an, 17:26-27
The Qur’an, 2:275
The Qur’an, 3:130
The Qur’an, 30:39
The Qur’an, 4:16
Warde, I. (2000). Islamic Finance: The Regulatory Challenge. London: I.B. Tauris.
Wilson, R. (2014). Islamic finance: A critical introduction. Edinburgh University Press.
World Bank. (2017). Islamic Finance: A Catalyst for Development and Growth.
World Bank. (2021). Islamic Finance.
World Bank. (2021). Islamic Finance.
World Bank. (2021). Islamic Finance.
World Bank. (2021). Islamic Finance.
Zangeneh, H. (2017). Islamic Banking and Finance in Iraq: Evolution and Challenges. Journal of Islamic Economics, Banking and Finance, 7(2), 117-142
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Hani Amer Musa, Dr. Rahmawati Muin
This work is licensed under a Creative Commons Attribution 4.0 International License.