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Introducing Islamic Banks into Coventional Banking Systems

28 Pages Posted: 23 Aug 2007  

Juan A. Solé

International Monetary Fund (IMF)

Date Written: July 2007

Abstract

Over the last decade, Islamic banking has experienced global growth rates of 10-15 percent per annum, and has been moving into an increasing number of conventional financial systems at such a rapid pace that Islamic financial institutions are present today in over 51 countries. Despite this consistent growth, many supervisory authorities and finance practitioners remain unfamiliar with the process by which Islamic banks are introduced into a conventional system. This paper attempts to shed some light in this area by describing the main phases in the process, and by flagging some of the main challenges that countries will face as Islamic banking develops alongside conventional institutions.

Keywords: Working Paper, Islamic banking, Bank supervision, Financial systems, Financial institutions

Suggested Citation

Solé, Juan A., Introducing Islamic Banks into Coventional Banking Systems (July 2007). IMF Working Papers, Vol. , pp. 1-26, 2007. Available at SSRN: https://ssrn.com/abstract=1007924

Juan A. Sole (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street N.W.
Washington, DC 20431
United States

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