Etatisme versus market driven Islamic banking: the experiences of Iran and the Arabian Peninsula compared
The world's largest Islamic banks in terms of assets are based in the Persian Gulf region, Bank Melli of Iran being first ranked with assets worth over $57 bilion and Al Rajhi Bank of Saudi Arabia being second, with assets worth over $45 billion. Yet these two banks operate in very different jurisdiction, with all banks being nominally Islamic in Iran, whereas on the Arab side of the Gulf Islamic banks compete with conventional banks. The aim here is to examine the contrasting approaches taken by Iran and its Guld Arab neighbors to Islamic banking.
Islamic banking , Islamic banks , Iran , Saudi Arabia
Wilson, Rodney. (2012). Etatisme versus market driven Islamic banking: the experiences of Iran and the Arabian Peninsula compared. In Mehran Kamrava (Ed.), The Political Economy of the Persian Gulf (pp. 125-145). New York: Columbia University Press.
Columbia University Press