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Islamic banking in Libya: emergence, growth, and prospects

A.S. Abusloum, Mahmoud and Ahmad, Khaliq and Bello, Nabil (2020) Islamic banking in Libya: emergence, growth, and prospects. In: Growth and Emerging Prospects of International Islamic Banking. IGI Global Publishing, USA, pp. 17-37. ISBN 9781799816119

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Abstract

This chapter identifies the internal and external challenges for Islamic banking in Libya. It is a conceptual work using secondary data where relevant concepts in terms of challenges of the conversion process in Libya were demonstrated. Conversion process is surrounded and faced by many challenges. Internal challenges are not less significant than external ones. Trained human resource, lack of awareness in Islamic banking, and resistance to change to Islamic banks are considered as internal challenges which represent the stage of readiness to convert the sector. On the other hand, the economic structure, the political situation, and the regulatory framework hinder the process externally. This implies that stakeholders should come up with comprehensive strategies and plans about the conversion process which will improve the readiness level of the banks, raise the awareness and willingness of their employees, and increase the skills of banks’ staff.

Item Type: Book Chapter
Additional Information: 1820/80156
Uncontrolled Keywords: Islamic banking, Libyan Bank, Organizational Change
Subjects: BPH Islamic Economics > BPH589.2 Riba - Interest
H Social Sciences > HJ Public Finance > HJ1438 Public Finance In Islam
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Institute of Islamic Banking & Finance (IIiBF)
Depositing User: Prof. Dr. Khaliq Ahmad
Date Deposited: 19 Jun 2020 11:50
Last Modified: 19 Jan 2021 14:02
URI: http://irep.iium.edu.my/id/eprint/80156

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