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Practical challenges of Mudarabah deposit in Islamic Financial Institutions in Sri Lanka

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dc.contributor.author Fathima Risama, K.
dc.contributor.author Ahamed Hilm, H. M.
dc.date.accessioned 2021-08-16T06:57:40Z
dc.date.available 2021-08-16T06:57:40Z
dc.date.issued 2021-04-04
dc.identifier.citation 8th International Symposium 2021 on “Promoting Faith-Based Social Cohesion Through Islamic and Arabic Studies”. 04th April 2021. South Eastern University of Sri Lanka, University Park, Oluvil, Sri Lanka. pp. 359-368. en_US
dc.identifier.isbn 978-624-5736-14-0
dc.identifier.uri http://ir.lib.seu.ac.lk/handle/123456789/5727
dc.description.abstract All products and services in Islamic Financial Institutions are structured with the support of Shariah compliant commercial contracts. Accordingly, deposit accounts in IFIs are also being backed by Shariah contracts such as Qard, Wadiah, and Mudarabah. These are contracts suggested by the scholars with some Shariah-compliant modifications to have similar attributes of conventional deposits. Thus, I have to practice according to Islamic commercial law as well as be competitive with its conventional counterpart. This study intended to identify the practical challenges faced by IFIs with respect to Mudaraba deposits. The qualitative research method has been employed in this survey. Primary data were gathered through interviews and secondary data were gathered from available library sources. Three Islamic finance institutions were chosen as samples, each representing a different type of Islamic financial an institution in Sri Lanka. The study found that Islamic financial institutions face certain challenges while applying Mudaraba contract to deposit such as Rate issue, CBSL restrictions and rules, lack of awareness about the products from both customers and staff, lack of technologies, Non-compliant deposit fund,s and the like en_US
dc.language.iso en_US en_US
dc.publisher Faculty of Islamic Studies & Arabic Language, South Eastern University of Sri Lanka, University Park, Oluvil. en_US
dc.subject Islamic Banking en_US
dc.subject Islamic Finance en_US
dc.subject Mudarabah Deposit en_US
dc.subject PSR en_US
dc.title Practical challenges of Mudarabah deposit in Islamic Financial Institutions in Sri Lanka en_US
dc.type Article en_US


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