ISLAMIC FINANCE PARADIGM AND ITS IMPACT ON THE BANKING SYSTEM

Birau Ramona and Filip Robert Dorin
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Birau Ramona: UNIVERSITY OF CRAIOVA, EUGENIU CARADA DOCTORAL SCHOOL OF ECONOMIC SCIENCES, CRAIOVA, ROMANIA & FACULTY OF ECONOMIC SCIENCE, UNIVERSITY CONSTANTIN BRANCUSI, TG-JIU, ROMANIA
Filip Robert Dorin: UNIVERSITY OF CRAIOVA, EUGENIU CARADA DOCTORAL SCHOOL OF ECONOMIC SCIENCES, CRAIOVA, ROMANIA

Annals - Economy Series, 2025, vol. 1, 83-88

Abstract: The main aim of this research paper is to provide a literature survey on the islamic finance paradigm and its impact on the banking system. The financial infrastructure differs in the case of Islamic banking compared to conventional banking. The Islamic jurisprudence known as Shariah law represents the foundation on which the Islamic banking system is based. Islamic banking emerged in the mid-1970s and represents an alternative to conventional banking. Moreover, one of the most important aspects is that Islamic banking system has implemented a new banking style based on “interest free” approach.

Keywords: Islamic finance. Islamic banking system; sustainability; Shariah compliance; Islamic law; financial technology; conventional banking (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:cbu:jrnlec:y:2025:v:1:p:83-88

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