Master of Science in Islamic Banking & Finance
Department of Finance
Faculty of Business Administration (FBA)
Date of Award
Dr. Ashraf Khan, Assistant Professor, Department of Finance, Institute of Business Administration Karachi, Pakistan
MS IBF Research Project
Conversion of Conventional Bank into an Islamic Bank is a widely discussed topic in the world of Islamic Banking and Finance as none of the conversion on a larger scale has taken place except for the conversion of Faysal Bank Limited in Pakistan, which is a largest conversion taking place. This paper discusses different challenges which are associated with the Conversion process and qualitative approach has been used to assess those challenges. Interviews of the management of Faysal Bank Limited have been taken and literature has been reviewed to assess and discuss those challenges in this study. The findings show that there are multiple challenges associated with the conversion process including but not limited to Human resource, Reputational, Financial constraints, and operational challenges. Then the different Islamic products which have been offered to the Customers as an alternative to the conventional products, been briefly discussed.
Nasir, H. (2021). Conversion of conventional bank into an Islamic bank: risks and challenges (Unpublished Graduate research project). Institute of Business Administration, Pakistan. Retrieved from https://ir.iba.edu.pk/etd-ms-ibf/12