Essay: Frameworks to Rectify the Failure of Islamic Banking

Sample Essay

The Islamic banking can yet capture the market share by identifying the key requirements of marketplace and providing them dynamic solutions to overcome their financial deprivations. The Islamic banks need to get proper and candid advises from the Islamic scholars so that they can evolve new products and develop new and enhanced services (Rothbard, 2008). The basic point of concentration should revolve around the importance of serving the customers when they really need help and assistance.

4. Methodology:

After having a detailed analysis of the various related literature the fact comes to light that coming up with a new product and fulfilling the laws of shariah at the same time can be a tough task. But the success of banking sector is widely depended upon the introduction of new products in a way that it maintains the profitability of investment and reducing the risk to the minimal level. So in order to design a new product keeping in view the Islamic perceptive and limitations, in my opinion cannot be a pure Islamic product. An intermediary product of Islamic and conventional banking might prove successful.

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