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The Study of Islamic Banking System in Economic Developments in Iran

Seyed Jafar Moosavi
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Seyed Jafar Moosavi: PhD Student of Entrepreneurship management, Islamic Azad University of Qazvin

Abstract of Economic, Finance and Management Outlook, 2016, vol. 7, 3

Abstract: Although there are differences between Islamic banking and "conventional" banking, there are some fundamental principles that apply equally to both. Islamic banking is banking or banking activity that is consistent with the principles of sharia (Islamic law) and its practical application through the development of Islamic economics. It plays a key role in the development of Islamic economics. The fundamental essence of Islamic banking system is based on the fact that although, Islam has forbidden the interest in transactions, but trade and profit is encouraged and supported. A significant proportion of the banking system has been Islamized in Iran. Therefore, this study seeks to use empirical evidence to study the critical success factors for the implementation of Islamic banking system in the banking sector of Iran. To achieve this purpose using mixed method approach, the research framework has been designed and examined. The required data in the qualitative part of the study were collected after detailed literature review and research background- through in-depth interviews with banking executives and academic experts; then the quantitative part of the study for framework examination was conducted using survey. Based on this study’s findings, the appropriate model of critical success factors for successful implementation of Islamic banking in the banking sector of Iran is proposed. Conclusively, both applied and theoretical recommendations and directions are shown in this study.

Date: 2016
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