Viewpoints: when the Islamisation model doesn't work

Razwan Ul‐Haq

Journal of Islamic Accounting and Business Research, 2012, vol. 3, issue 1, 57-66

Abstract: Purpose - The purpose of the paper is to encourage debate around the issues of the bank and Islamisation. Design/methodology/approach - The work is an ideological examination of approaches to Islamisation and includes references to thinkers from Muslim history. Findings - The Islamisation model is not wholly appropriate in the banking sector. Practical implications - The paper highlights the limitations of the Islamisation approach and puts forward the case for another methodology, Namely the model of Islamication. Social implications - The impact of the author's recommendations, if followed would revolutionise the way banking is carried out. Originality/value - The conceptualization of Islamication with regard to banking has not yet been academically formulated. This paper provides a platform to do this. Although Muslim societies and Muslims living in the West will be interested in the paper, non Muslim scholars Europe too, faced with a banking crisis may welcome some of the report's recommendations.

Keywords: Islamisation; Islamication; Banks; Halal; Riba; Interest; Islam (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jiabrp:17590811211216069

DOI: 10.1108/17590811211216069

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