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<p style="text-align:justify;">Embryonic Islamic banking industry has documented marvellous growth worldwide since inception; stimulated sound rooted western banking to inculcate and include Shariah driven lucrative products and services as an integral part of corporate segment. Research to date has revealed its unique features and ethos, yet it has to overcome multifarious global impediments. The focus of this study is to encapsulate the enormous challenges Islamic finance service industry has encountered during last three decades. We find the arguments such as complex regulatory and supervisory issues; absence of uniform reporting standards; prudential challenges; misconception among western society pertaining to Islamic banking; scant financial instruments and concurrent money and capital markets; fierce compaction by western banking; lack of consensus among Shariah Scholars; and central governing body that are precarious challenges among others. Therefore, policy makers need to constitute an integrated central regulatory body to congregate speckled Islamic banking practices and to foster the underlying philosophy of Sharia compliance operation along with synchronized and unified standardized worldwide.</p>

MBR_Volume 4_Issue 4_Pages 310-321.pdf

Review Article

MBR.2017.60249.xml

Issue

Islamic Finance Service Industry and Contemporary Challenges: A Literature Outlook (1987-2016)

<p style="text-align:justify;">The purpose of this paper is to investigate what major macroeconomic variables contributed for the economic growth of Ethiopia after the Ethiopia-Eritrea war of 1998-2000.&nbsp;This study applies ordinary least square on time series data pertaining to core macroeconomics variables, collected from the database of World Bank and IMF. Empirical results reveal that Ethiopia has experienced economic boom after the Ethiopia-Eritrea war of 1998-2000 with its strategy of curtailing government expenditure and expanding public investment on mega projects. The study also identified that the “peace dividends” found to be well placed and is paying back positively. Ethiopia witnessed transition towards emerging economy in Sub-Saharan African country, assessing the economic growth and the factors that interplay behind the growth may give a helpful&nbsp;lesson for similar economies and the region.&nbsp;In contrast with other existing economic booms, Ethiopia’s growth acceleration has not achieved much attention in the literature. This study fills the gap by methodically identifying and assessing the major economic driving forces after the Ethiopia-Eritrea war of 1998-2000. The time period indicates crucial detours of how the country initiated and maintained the economic boom.</p>

mbrq.2017.04.03.pdf

Original Research 

mbrq.2017.04.03.xml

Determinants of Economic Growth of Ethiopia: An Analysis for the Post Ethiopia-Eretria War (1998-2000)