Islamic banking is a banking system based on the principles of Islamic or Sharia law and guided by Islamic economics. The significant growth of Islamic banking in the last decade,makes it a phenomenon that requires to be explored and analyzed.

You are required to choose only ONE country (not the bank) and provide a detailed review of the Islamic banking system in that particular country.

First, you should justify your country choice (explain why you select the particular country) and provide a general background of the historical development of its Islamic banking system. (Refer to criteria of Introduction in the rubric)

Second, you are required to identify differences between Islamic banking sector and conventional banking sector(for your selected country from first part)in terms of market share, regulatory framework, business operation and other relevant aspects.(Refer to criteria of Content in the rubric)

Third, list and discuss three challenges, which in your opinion, are preventing Islamic banking from playing a more effective role. Despite its rapid growth, Islamic banking is facing enormous challenges to establish itself in the global banking industry.(Refer to criteria of Content in the rubric)

Finally, you should conclude the report with the implications of the findings(impact of Islamic banking towards the economic, social or nation of your selected country) and identify the unresolved question(one potential problem/issue keeps continuing in the future). (Refer to criteria of Conclusion in the rubric)

The report gives a word limit of 2,000-2,500 words.