The Islamic banking practices: possible acceptance in the U.S.A. as perceived by Islamic and U.S./Western bankers (United States) (D.B.A. Dissertation)

The philosophical and economic underpinnings of Islamic and Western banking are investigated in this study together with financial management concepts, Islamic financing instruments, and problems and expected opportunities/obstacles in the U.S. and the possibility of the acceptance of Islamic banking in the U.S. The author used a survey to collect data on U.S. acceptance as perceived by Muslim bankers, U.S. bankers familiar with Islamic banking and U.S. bankers unfamiliar with Islamic banking. Twenty Islamic banking and finance practices that were used by Islamic banks were included. A matrix allowed the respondents to evaluate U.S. acceptability of Islamic banking practices. Muslims also evaluated the importance of their own practices to Islamic business. The results revealed that within the three groups ten out of twenty Islamic banking and finance practices were acceptable in the U.S. They were investment accounts, transfer of funds, cost plus finance, profit and loss sharin