Revista de Cultura Organizacional, Comunicaciones y Conflictos

1939-4691

Abstracto

Assessing the change of Conventional Banking to Islamic Banking

Maqsood Mahmud*

Due to the differences between conventional and Islamic banks, switching from conventional to Islamic banking entails major modifications. Actually, the lack of a thorough structure for the conversion process is causing conventional banks to face a number of challenges. Compliance with shari'ah, conversion resistance, human resources, Islamic financial products, and rules and laws are a few notable barriers. This essay explores the idea of conversion while highlighting the difficulties and barriers encountered throughout the transition to Islamic finance. As a result, this article highlighted some crucial elements that can compromise the conversion process's success.This research outlined the problems from the literature related with the conversion process and the driving forces behind conventional banks' conversion to Islamic banks in order to explore important barrier elements. The primary goal of this research is to better understand the factors that affect the conversion of conventional banks to Islamic banks and the driving forces behind this process. According to the report, the conversion procedure should be viewed as a comprehensive process including every element of the financial and economic system.

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