The partnership between conventional banksand islamic banks: challenges of cooperation in the age of globalization
DOI:
https://doi.org/10.34140/bjbv7n1-061Palavras-chave:
bank partnership, conventional banks, islamic banks, globalization, legal challengesResumo
This research explores the partnership between conventional and Islamic banks, focusing on the challenges of cooperation in the era of globalization. It analyzes how economic, political, and cultural factors influence these collaborations, using a descriptive-analytical methodology. The study gathered data from 200 participants working in both types of banks to assess the impact of globalization, legal and regulatory barriers, and the differences in cooperation across stable and volatile economic environments.
Findings indicate that globalization has generally facilitated cooperation between conventional and Islamic banks, despite challenges posed by local and international regulations. The level of collaboration varies based on economic stability, with partnerships thriving more in stable environments. Additionally, awareness of Islamic banking plays a crucial role in strengthening these partnerships.
The study emphasizes the need for regulatory frameworks that accommodate both banking models while promoting financial innovation. It recommends strategies to enhance cooperation, including policy adjustments and awareness campaigns on Islamic banking principles. By addressing these challenges, the research suggests that the financial sector can foster more effective collaborations between conventional and Islamic banks, leveraging globalization for economic growth and stability.
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