Islamic Business Ethics and Bank Competitiveness

Abstract

Over the recent economic history, the world banking industry has gone through exponential developments. This sectorial growth has been paved with ever-increasing challenges linked to the problematique of business ethics, banking governance, and industry regulation. As global banking operations continue to grow, the need for a global business ethics re-evolution has become a matter of urgency. Within this historical context, the concept of Islamic business ethics and ethical banking has evolved equally capturing the attention of industry professionals and academic scholars. These developments have created a global niche market for Islamic banking, and it became clear that the success of Islamic bank global redeployment in a hyper-competitive banking environments should be embedded on the constant creation of new short-term competitive advantages so as to sustain sustainable competitive advantage.