Putting more R.I.C.E in Islamic banking research
The rapid development of the Islamic banking sector in many Muslim countries especially in Malaysia and the Middle East and its increasing acceptance in non-Muslim world has captivated much interest in recent years. Its alleged resiliency during the recent global financial crisis has prompted some to offer the Islamic banking model as a solution to the malaise of the present interest rate-based banking system, normally dubbed as the conventional banking system. A pre-dominant view among Muslim professionals and policymakers holds Islamic banking to be more equitable and more stable, aspects well-noted to be critical for societal well-beings. This view is principally based on the belief in the Islamic banking business model as prescribed by Islamic laws or the Shariah. Islamic banking is free from interest rate and gharar, which are the root of injustice, speculation and uncertainty.
Islamic banking , Research , Robustness , Identification , Clarity , Ethical
Ibrahim, M. H. (2016). Putting more R.I.C.E in Islamic banking research. IF Hub, 2 (October 2016), pp. 2-4.