IIUC Business Review

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    Challenges of IFIs in practicing IFM and their solutions: Evidence from Islamic banks and insurance companies
    (International Islamic University Chittagong, 2021-12) Islam, Serajul
    This research aimed to explore the challenges and solutions in practicing Islamic Financial Management (IFM) in Islamic Financial Institutions (IFIs) in Bangladesh. To achieve the objectives, this study adopted the qualitative approach and purposive sampling method including twenty-five semi-structured interviews with managers of Islamic banks and Islamic insurances. The rich qualitative data from the interviews were thematically analysed to identify the challenges and solutions in practicing IFM in the IFIs in Bangladesh. The major challenges and solutions that emerged were mainly categorised into three main types: social, organisational, and individual challenges and solutions. However, some of these challenges have been consistent with the previous studies while some have been newly identified from the participants' opinions. Similarly, some of the solutions in practicing IFM in the IFIs have been similar to the previous studies, while some of the findings have emerged as new additions to the current literature and practice. The results of the study have significant implications for both literature and practice.
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    Challenges and Potentials of Islamic Finance Products in the Australian Financial Market Regulation: A Critical Review
    (CRP (International Islamic University Chittagong), 2014-06) Shahed, Abul Kalam Muhammad; Ahmad, Abu Umar Faruq
    The purpose of the study is to identify the key challenges in the growth and development of Islamic financial services in Australia for its largest Muslims minority. It also assesses the prospects for the emergence of Islamic banking in the Australian market in parallel to its conventional practice. The method employed in this study is a mixture of direct observation from legal and regulatory perspectives and author's personal experience, curiosity and association with this industry. However, Islamic legal context remains the only theoretical basis of the study. Through examining the above the paper seeks to argue that in order to meet the core challenges of Islamic finance a separate legal framework be established so as to facilitate its growth and development in the Australian financial market