MF400: Islamic Banking in Somaliland- Markfield Institute of Higher Education- Dissertation Writing Assignment

Internal Code: 3CEA

Dissertation Writing Assignment:

Topic: Exploring and Analyzing the demand and supply conditions for the Institutionalization of Islamic Banking in Somaliland The project deals with the given topic and the country has been provided. The study, hence, aims to explore and empirically examine the demand and supply conditions for Islamic Banking and Finance in Somaliland and also for the institutionalization of Islamic finance through participants’ perception, opinion and understanding. In doing so, a questionnaire survey aimed at collecting data from ordinary people, business circles as well as professional bankers and financiers was administered in 2018.with the primary data collected, the aim has been to (1) gauge participants’ perceptions and opinions on the past performance of the Somaliland economy and financial system, (2) measure individual’s awareness, understanding and expectations of Islamic finance and banking and (3) measure individuals’ understanding and support for an alternative type of institutionalization. In continuing the project it needs to be stated the background for the research is important and is talked about. In this regard it needs to be stated that the rationale of the research has been developed based on background and on the rationale of the research. The research questions that have been raised are in terms of the salient features of Islamic moral economy and specially focusing on Somaliland’s banking and financial perspectives. The results of the questionnaires have shown that the people of Somaliland support the implementation of the Islamic banking and finance system in the country, since most of the Somaliland people prefer to avoid interest-based banking transactions. Ability to rectify their different challenging phases and proceeds towards the developed economic phrases. The effectiveness on the procedure for the Somaliland banking structure in order to evaluate the customer preferences have been discussed in the project. The banking procedure to help enhance the overall Somaliland economy has been evaluated. The demand and supply factors for the development of Somaliland economy has been discussed upon. Research aims and objectives have been discussed for this purpose. The probable solutions to the develop the banking sector has been discussed upon. It needs to be stated that the effect of religion on economic development has been talked about. Here in this project, the concept of development in Islamic terms have been discussed on. The philosophical aspects of Islam on development have been discussed as well. In this regard economic concepts on financial system has been an important factor.