Moving the world to islamic banking

Moving the World to Islamic Banking
A STUDY OF ISLAMIC BANKING AS A FINANCIAL SYSTEM AND AN ANALYSIS OF HOW IT
COULD BE TRANSFERRED TO THE SWEDISH MARKET

Authors
Linnéa Hallberg 871026-4907
Yasmine Åkermark Nettelbladt 870410-1446

Supervisor
Harald Dolles

Bachelor Thesis
International Business/Marketing Spring 2011

Acknowledgements
This bachelor thesis is intended to explain Islamic banking as a financial system and investigate whether this financial system can be transferred to Sweden. To enable this we have collaborated with different people and we would therefore like to thank them for their interest and enthusiasm for our research subject.
First and foremost we would like to thank all our interview respondents; David Lantz,
Hairuddin Majid, Zalikha Mazli, Abhinash Murukesvan, Haji Awaludin and Pedro Garcia.
They have shared their experience and knowledge with us through the interviews and have been valuable inputs for us during this process. Their openness and dedication have been of great importance to us. We would also like to thank our supervisor Harald Dolles for his counseling and advice throughout the writing of this thesis.

Gothenburg May 2011
Gothenburg May 2011.

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Abstract
This thesis provides an explanation of Islamic banking and its concept by the use of a case study of Malaysia, a pioneer within Islamic finance. Furthermore it investigates the implementation of the Islamic banking system in a Western country, where Sweden has been chosen as an example. In order to analyse the Swedish market, four different issues have been developed that an Islamic bank may encounter. Based on these issues a conclusion has been drawn. Islamic banking is believed to be transferrable to the Swedish market, however the bank must acknowledge the circumstances which are specific for the country and thereafter develop a strategy that is unique in its way of doing Islamic banking.

Keywords: Islamic banking, conventional