The value-adoption problem in the Malaysian Islamic banking system

Imon, Riasat Amin (2019) The value-adoption problem in the Malaysian Islamic banking system. In: 10th Foundation of Islamic Financial Conference/Symposium (FIFC) 2019, 28th November 2019, Bandar Sunway, Petaling Jaya. (Unpublished)

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Abstract

Despite being the largest arm of the Malaysian Islamic financial sector, the Malaysian Islamic banking system has always been an active target of critics for the lack of structural reforms to fortify core Islamic values, such as, risk-sharing and real sector growth. Often, the blame is thickly laid on strategic management entities, such as the executive management and the Shariah committee. This paper presents the structural-development-problem of Islamic banks as a systemic problem that results from an inevitable value-adoption process effected by the mainstream financial systems it emulates. Thus, the development of Islamic banking is contingent upon the value-framework within which it has been set. This would explain why Islamic banking has unfalteringly developed according to mainstream financial standards while resisting structural change. The implication is that for meaningful development to occur in this sector, the choice of more compatible value-laden frameworks is critical.

Item Type:	Conference or Workshop Item (Plenary Papers)
Additional Information:	9061/79237
Uncontrolled Keywords:	Islamic Banking and Finance development, Structural development, Worldview, Value adoption, Economic systems, Systems theory
Subjects:	BPH Islamic Economics BPH Islamic Economics > BPH589.2 Riba - Interest H Social Sciences > HB Economic Theory H Social Sciences > HB Economic Theory > HB126.4 Islamic Economics H Social Sciences > HG Finance > HG3368 Islamic Banking and Finance
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Economics and Management Sciences > Department of Economics Kulliyyah of Economics and Management Sciences
Depositing User:	Dr RIASAT AMIN IMON
Date Deposited:	09 Apr 2020 12:15
Last Modified:	09 Apr 2020 12:15
URI:	http://irep.iium.edu.my/id/eprint/79237

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