Open AccessTHE IMPACT OF ISLAMIC BANKING AND FINANCIAL PERFORMANCE: THE CASE OF DUBAI ISLAMIC BANK
Author(s) -
Suha Jalloul
Publication year - 2021
Publication title -
the euraseans : journal on global socio-economic dynamics
Language(s) - English
Resource type - Journals
ISSN - 2539-5645
DOI - 10.35678/2539-5645.5(30).2021.60-70
Subject(s) - islam , business , accounting , sharia , financial services , corporate governance , shareholder , financial system , order (exchange) , sample (material) , islamic banking , finance , geography , chemistry , archaeology , chromatography
Due to the fast growth of the Muslim community, Dubai's Islamic finance industry has been also growing considerably over the last two decades. Muslim financial services may become more popular as the Muslim population expands and its living circumstances improve. The key developing market for religion-based financial products is the Middle East. This study analyzes their impact on the financial performance of Islamic banks. Data for this study was gathered from the platform www.dib.ae, the years of investigation being 2017-2020. The study's limited sample size was heavily influenced by the participants' preference for an Islamic bank over a conventional bank with an Islamic window. Because every IB operating in the GCC was included in the research, Dubai Islamic Bank is considered an excellent representation of the fully fledged Islamic banks. The researchers studied the financial performance indicators of a Dubai Islamic Bank for several years and have found that international principles are used as a guide for Sharia compliance, shareholder rights, and decision-making processes in IBs' governance and accounting standards. However, laws must be adapted to the country's specific environment in order for the bank to function properly. Managers must make sure еру economic competitiveness paradigm can be more easily integrated with the related Islamic values.