Islamic banking: a case study of Kuwait (Ph.D. Thesis)

The author examines the possible introduction of interest-free banking in Kuwait, its implications, operations, advantages and disadvantages, and the transformation process under which such transition would occur - all within the aftermath of the Islamic resurgence movement. The first chapter presents an overview of the Islamic economic system and underlying principles which are the considered by the author to be the cornerstone for change from a conventional economic system to an Islamic one. The second chapter focuses on the methodology of Islamic banking, its objectives and main operations, both in theory and practice. The third chapter deals with the main aspects of the Kuwait economy, the existing banking system, and the changing role of the central bank and monetary policy implications are examined. The author goes on to talk about the changes required in the current instruments of finance being used by Kuwaiti banks in order to adapt to the new Islamic system.