You are on page 1of 8

Lecture # 13

Issues and Problems of Islamic


Banks

Shaikh Noman
shaikhnoman85@gmail.com
Iqra University Gulshan Campus
Issues and Problems

There are four stack holders related to Islamic Banks:

1.Theoretical aspects (Academic side)


2.Practical aspects (Business application and innovation)
3.Regulatory aspects (Governmental and legal support and
legislation)
4.Public aspects (Awareness of general public)
1.Theoretical aspects (Academic side)

Theoretical aspect include:


−Lack of research and development;
−Few number of experts on both Islamic and economic side;
−Differences in Fatwas;
−Low acceptability to all Ulama and economists;
−Unavailability of sufficient good material/stuff on the subject;
3. Regulatory aspects (Governmental and
legal support and legislation)

Regulatory aspect include:


−No legal support;
−Public driven system;
−Difficulties in legal documentation in absence of laws;
−Regulatory framework is supportive of conventional system;
−Slow process of legislation and legalization;
−Attitude and behavioural problems;
4. Public aspects (Awareness of general public)

Public aspect include:


−Lack of awareness;
−Difference in beliefs, different school of thoughts;
−Small marketing campaigns;
−Behavioural issues;
−Problems because of low literacy rate;
Issues and Problems

Standing in front of challenges is extremely important


No one is of the view that if we are not getting whole thing we should
leave its portion
Partial achievement is not sufficient though but better than achieving
nothing
Journey towards a destination starts from first step
Journey towards wrong direction is sometimes required to take a right
turn to correct path
Role of Pakistan in promotion of Islamic banking is grea
What can you do for promoting of Islamic
Banks ?

7
‫شکوہِ ظلمتِ شب سے تو کہیں بہتر تھا‬
‫اپنے حصے کی کوئی شمع جالتے جاتے‬

‫‪8‬‬