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Banking for those unwilling to bank: Implications of Islamic banking systems

Kumru, Cagri; Sarntisart, Saran

Description

A significant number of Muslims are unwilling to deposit their savings into the conventional banking sector since it does not operate according to their religious beliefs. In this paper we provide a model that aims to explore growth and welfare implications of an Islamic banking system that operates according to Muslims' religious principles. Our model shows that in an economy populated with a certain number of religiously concerned individuals, the existence of an Islamic banking system can...[Show more]

CollectionsANU Research Publications
Date published: 2016
Type: Journal article
URI: http://hdl.handle.net/1885/102932
Source: Economic Modelling
DOI: 10.1016/j.econmod.2015.12.011

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