Regulatory Challenges of Islamic Banking in Pakistan
Journal Title: Journal of Islamic Thought and Civilization (JITC) - Year 2017, Vol 7, Issue 0
Abstract
This research investigated the regulatory challenges faced by Islamic banking from the perspective of Islamic bankers in Pakistan. The data were collected through crosssectional survey using a questionnaire from 152 bankers, selected through stratified convenient sampling, working at different Islamic banks of Lahore. The mean scores for overall 68 statements as well as for its sub-dimensions, namely, ‘Scope of Regulatory Authorities,’ ‘Development Issues with Regulatory System,’ ‘Licensing and Authorization,’ ‘Shari‘ah Supervision,’ ‘Supervisory Framework,’ ‘Institutional Harmonization,’ ‘Information Disclosure,’ ‘Market Development’ and ‘Capacity Building’ indicated the agreement of Islamic bankers with pre-formulated list of regulatory challenges for Islamic banking. There was no statistically significant difference in bankers’ perceptions with regard to regulatory challenges for Islamic banking based on gender and nature of bank. However, the participants’ qualification, professional experience, and career levels appeared to be correlative of Islamic bankers’ perceptions regarding regulatory challenges for Islamic banking. The findings are helpful for policy makers to make strategic decisions for the development and growth of IB in Pakistan. This study comprises pragmatic insights of Islamic bankers and benefits both Islamic as well as other conventional banks adopting Islamic banking in order to increase their business opportunities. In addition, the results of this study may assist the policy makers and regulators in policy formulation regarding Islamic banking in Pakistan.
Authors and Affiliations
Rozeen Shaukat
Keywords
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- EP ID EP472973
- DOI 10.29145/2017/jitc/72/070206
- Views 131
- Downloads 0
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