Research Proposal on Islamic Banking

Table of Contents

TOC \o 1-2 1) Research Title PAGEREF _Toc \h 3 2) Introduction to the Research Topic and Main Research Question PAGEREF _Toc1 \h 3 3) Literature Review Outline and Detailed Research Questions PAGEREF _Toc2 \h 5
3.1) Introduction PAGEREF _Toc3 \h 5
3.2) Background of Islamic Banking PAGEREF _Toc4 \h 5
3.3) Features of Islamic Banking PAGEREF _Toc5 \h 6
3.4) Determination of Whether Islamic Banking is a Matter of Semantics PAGEREF _Toc6 \h 8
3.5) Detailed Research Questions PAGEREF _Toc7 \h 10 4) Ethical Considerations PAGEREF _Toc8 \h 10
References PAGEREF _Toc9 \h 12
Bibliography PAGEREF _Toc10 \h 17

1) Research Title
“Islamic Banking: A Matter of Semantics?”

2) Introduction to the Research Topic and Main Research Question

Islamic banking is denoted as a banking system, which is mainly governed by the principles that have been formulated by the Islamic Shariah (Hasan, 2012). In general, the term Islamic banking is not only typically based on evading internet-based transactions that are strictly prohibited under the law of Shariah, but also discards any sort of unsocial or unethical practices (Ahmed, 2011). With this concern, it can be affirmed that Islamic banking is regarded as the procedure of transforming predictable money lending into transactions that are fundamentally based upon real as well as tangible services (El-Gamal, 2006). This banking system, if successfully operated, eventually results into attaining financial prosperity in the longer run (IIBI, n.d.). In earlier years, it can be apparently noted that Islamic banking has witnessed worldwide growth rate of nearly 10 to 15%, representing movement into conventional financial systems at a rapid rate (Sole, 2007). This can be justified with reference to the fact that such a sort