Trends and Challenges in Islamic Finance

Abstract

This project aims to analyse the trends and challenges of Islamic Finance in various countries (Saudi Arabia, Pakistan, Canada, USA, United Kingdom and Malaysia) with reference to the financial position of Meezan Bank operating in Pakistan and other International Financial Institutions. Islamic Finance has increased rapidly in number to a quantity ofconventional banks with some great successful attributes. The work ofIslamic Finance has been enhanced with the joint effort of bankers, investors and Ulemas. Despite having numerous challenges Islamic banking has caused that it is based on the strong religious grounds which can enhance the economic system amidst the issues attacking from all the sides. But the efforts should be made by the society as a whole in order to bring this lobby close into complete action in relationship to the Islamic finance. To completely accept Islam economic system all the stakeholders of Islamic finance should keep a step forward and work towards the enhancement ofthe Islamic finance.