Islamic Banking Prospects, Challenges, and Criticism- A Systematic Literature Review

Abstract

Purpose: The article covers the prospects, challenges and criticism of Islamic Banking. There is still a confusion among people about the differences in Islamic and commercial banking. The implementation of Islamic banking is not as per the true spirit with which it was started.    Methodology/Approach: A systematic literature review was conducted and a thorough research was carried out by studying 2725 articles and finally qualifying thirty articles (30 articles) for the review Findings: The results revealed that there is still a confusion among people regarding the difference between Islamic and Conventional banking. The Islamic banks should organize more awareness programs to improve the knowledge of people regarding Islamic banks. The social objectives of Islamic banks are not highlighted from their operations. Implications/Originality/Value: This articles contributes to the literature by giving important insights regarding the Islamic Banking industry. The Islamic Banks can definitely improve by adopting the suggestions given in paper.