Year
2019
Country
Qatar
Language
English
Abstract
| The history of financial crisis provided many causes in definition and practices. However, there are many factors affect the financial system in order to collapsed the whole system that lead to a vulnerable situation. The main objective of the Islamic finance is to provide justice among the human beings around the world. The Islamic financial system is adequate in terms of discipline rules and conditions in order to fill up conventional weakness to minimise the financial crisis in the world. This system encourage creditors to share the risks whereby it enhance the growth of real economy as both financier and entrepreneurs motivated and careful to utilize the fund into productive activities. The main purpose of this study is to identify the root causes of financial crisis and create a building block for Islamic financial system in order to sustain and extend the growth of the system. This study employed qualitative approach to achieve its objectives. The study articulated past research papers and reports and analysed. The findings of this study indicate that due to inadequate credit distribution by the conventional banks lead the financial crisis. The findings also indicate that Islamic financial stability is still undergoing with threats and steadily. This study proposes a building block for the stability of Islamic financial stability which focused on innovating products and services in accordance with social practices along with shariah compliancy. This study will also help the entrepreneur and existing businesses in order to focus on customer's perception as well as social practices which will enlighten the acceptability of the Islamic financial products broadly. The findings and the proposed building block may enhance the stability and recognisability of the Islamic financial system all over the world. The findings may contribute to the Islamic banks in order to innovate and advertise their existing products among local consumers. Additionally, this research is also encouraging the investors to identify the issues and the knowledge of the existing financial system and the feature of Islamic financial system in order to encourage them. Policy makers may identify the gaps and issues that have risen over the decades from this study which will associate them to initiate an effective strategy in order to sustain the Islamic financial system by competing conventional system. |
English
No. of Pages
85p.
Degree
M.Sc
Select type of work
Institution
CIS Program Old
CIS publications
No
CIS Thesis
Yes