International Journal of Business and Social Science

ISSN 2219-1933 (Print), 2219-6021 (Online) DOI: 10.30845/ijbss

 

Outline of an Economic Sociology of Islamic Banking
Reza Azarian

Abstract
This article offers the outline of a sociological framework for the analysis of Islamic banking. The proposed theoretical approach consists of three analytical levels. First it presents the key features that characterise Islamic conception of economy. In the next step, the article demonstrate how a specific institutional order derives from this fundamental conception. Finally it is shown how this institutional arrangement provides the rules and principles required for organising economic interactions, including financial practices. The article ends with a short chronological review of the actual course of establishment and expansion of the Islamic financial institutions during the last few decades, embracing a number of countries in which Islamic banking has been of a certain degree of significance.

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