What was unthinkable, or at least not admitted, just years ago is beginning to happen in Islamic finance. More and more stakeholders now concede that the Shari’ah-authorized way of banking has hit a glass ceiling.
A man monitors an electronic board displaying share market prices during a trading session in the halls of Pakistan Stock Exchange (PSX) in Karachi, Pakistan, on June 12, 2017. (Reuters)
The asset-energy conundrum
Experts say primary challenge for Islamic finance emerges from drop in oil and energy prices, which negatively affect growth of oil-exporting countries. (Shutterstock)
Difficult times ahead
In almost two decades, Islamic finance industry has indeed launched many policies to modernize its financial services. (Reuters)