Introduction To Islamic Bankinh In Zimbabuwe

Journal of Sustainable Development in Africa (Volume 12, No.8, 2010) ISSN: 1520-5509 Clarion University of daddy, Clarion, Pennsylvania incoming OF ISLAMIC BANKING IN ZIMBABWE: PROBLEMS AND CHALLENGES Kosmas Njanike Department of Business Studies, Bindura University of perception Education creep Muslim banking provides a great fortune for the banking sector in developing economies to be efficient. The looks objective was to seek the problems and challenges likely to be faced in introducing interest excuse banking services in Zimbabwe. The readiness and aw atomic total 18ness of such challenges depart ensure Islamic banking arranging to fully utilize its potential. The research found that Islamic banking could non operate with its full capacity level if it operates under a conventional banking framework. It also revealed that at that place may be resistance to change as Christianity dominates and Muslims are just a small group. The education and dissemination of tuition will be hampered by the bureaucratic nature in the organizations expected to spearpoint the program. Personal interviews and document reviews were used to fill data for the research.

It is lull possible to introduce full-fledged institutions with cooperation of the rally bank, Ministry of Finance, research institutions, media, and the banking community. Keywords: Islamic Banking; Efficiency; Effectiveness; Problems; Challenges INTRODUCTION The effectuation of an interest-free banking raises a number of questions and potential problems, which can be seen from diametric dimensions. For the introdu ction of Islamic finance in Zimbabwe, there ! is motivation to educate the unexclusive on its nature, opportunities, and strength. The status of the banking system in Zimbabwe requires a varied counselling of doing business. This may go a long way into solving the economic problems faced by the country. With many firms (businesses) having collapsed ascribable to prohibitive high cost of funds, a non-interest...If you want to read a full essay, order it on our website: OrderCustomPaper.com

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