Exploring the challenges of conventional banking practices and prospects of introducing an Islamic banking in Tajikistan: using qualitative approach

The purpose of this research is to explore the challenges of current banking practices in Tajikistan and investigate the prospects of introducing the new Islamic banking system. In which the Islamic banking may help in bring back the trust to the people for dealin...

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Main Authors:	Ashurov, Sharofiddin, Idris, Ahmed Fauzi, Abdullah Othman, Anwar Hasan
Format:	Article
Language:	English
Published:	Universitas Muhammadiyah Yogyakarta 2018
Subjects:	HG3368 Islamic Banking and Finance
Online Access:	http://irep.iium.edu.my/67646/ http://irep.iium.edu.my/67646/ http://irep.iium.edu.my/67646/ http://irep.iium.edu.my/67646/1/67646%20Exploring.pdf

id	iium-67646
recordtype	eprints
spelling	iium-676462018-12-18T08:46:39Z http://irep.iium.edu.my/67646/ Exploring the challenges of conventional banking practices and prospects of introducing an Islamic banking in Tajikistan: using qualitative approach Ashurov, Sharofiddin Idris, Ahmed Fauzi Abdullah Othman, Anwar Hasan HG3368 Islamic Banking and Finance The purpose of this research is to explore the challenges of current banking practices in Tajikistan and investigate the prospects of introducing the new Islamic banking system. In which the Islamic banking may help in bring back the trust to the people for dealing with the banking system that will lead to enhance the economy growth. This study applied the qualitative method by conducting in depth interviews with the experts comprising seven responden ts. The result of respondents showed that there is list of challenges that current banking practices facing in Tajikistan. This therefore encourage for introducing an Islamic banking system in Tajikistan. Among the challenges in Conventional Banking system that respondents identified are distrust, an interest - based (Ribâ) system, and long processes with complicated systems. This is because the listed challenges by respondents are crippling the entire banking system, if the authority is not concerning for ca tering the existed challenges. Moreover, the findings signify the challenges of conventional banking practice that the authorities of the country and practitioners must avoid when Islamic banks are established. In addition, the practitioners need to focus on improving the current banking practice to avoid the challenges identified in the study. Universitas Muhammadiyah Yogyakarta 2018 Article PeerReviewed application/pdf en http://irep.iium.edu.my/67646/1/67646%20Exploring.pdf Ashurov, Sharofiddin and Idris, Ahmed Fauzi and Abdullah Othman, Anwar Hasan (2018) Exploring the challenges of conventional banking practices and prospects of introducing an Islamic banking in Tajikistan: using qualitative approach. International Journal of Islamic Economics and Finance, 1 (1). pp. 1-24. ISSN 2622-3562 E-ISSN 2622-4372 http://journal.umy.ac.id/index.php/ijief/article/view/4557/3624 10.18196/ijief.v1i1.4557
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HG3368 Islamic Banking and Finance
spellingShingle	HG3368 Islamic Banking and Finance Ashurov, Sharofiddin Idris, Ahmed Fauzi Abdullah Othman, Anwar Hasan Exploring the challenges of conventional banking practices and prospects of introducing an Islamic banking in Tajikistan: using qualitative approach
description	The purpose of this research is to explore the challenges of current banking practices in Tajikistan and investigate the prospects of introducing the new Islamic banking system. In which the Islamic banking may help in bring back the trust to the people for dealing with the banking system that will lead to enhance the economy growth. This study applied the qualitative method by conducting in depth interviews with the experts comprising seven responden ts. The result of respondents showed that there is list of challenges that current banking practices facing in Tajikistan. This therefore encourage for introducing an Islamic banking system in Tajikistan. Among the challenges in Conventional Banking system that respondents identified are distrust, an interest - based (Ribâ) system, and long processes with complicated systems. This is because the listed challenges by respondents are crippling the entire banking system, if the authority is not concerning for ca tering the existed challenges. Moreover, the findings signify the challenges of conventional banking practice that the authorities of the country and practitioners must avoid when Islamic banks are established. In addition, the practitioners need to focus on improving the current banking practice to avoid the challenges identified in the study.
format	Article
author	Ashurov, Sharofiddin Idris, Ahmed Fauzi Abdullah Othman, Anwar Hasan
author_facet	Ashurov, Sharofiddin Idris, Ahmed Fauzi Abdullah Othman, Anwar Hasan
author_sort	Ashurov, Sharofiddin
title	Exploring the challenges of conventional banking practices and prospects of introducing an Islamic banking in Tajikistan: using qualitative approach
title_short	Exploring the challenges of conventional banking practices and prospects of introducing an Islamic banking in Tajikistan: using qualitative approach
title_full	Exploring the challenges of conventional banking practices and prospects of introducing an Islamic banking in Tajikistan: using qualitative approach
title_fullStr	Exploring the challenges of conventional banking practices and prospects of introducing an Islamic banking in Tajikistan: using qualitative approach
title_full_unstemmed	Exploring the challenges of conventional banking practices and prospects of introducing an Islamic banking in Tajikistan: using qualitative approach
title_sort	exploring the challenges of conventional banking practices and prospects of introducing an islamic banking in tajikistan: using qualitative approach
publisher	Universitas Muhammadiyah Yogyakarta
publishDate	2018
url	http://irep.iium.edu.my/67646/ http://irep.iium.edu.my/67646/ http://irep.iium.edu.my/67646/ http://irep.iium.edu.my/67646/1/67646%20Exploring.pdf
first_indexed	2023-09-18T21:36:01Z
last_indexed	2023-09-18T21:36:01Z
_version_	1777412825675726848

Exploring the challenges of conventional banking practices and prospects of introducing an Islamic banking in Tajikistan: using qualitative approach

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