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Investigating Islamic banking in Italy: Business-based and cultural-based analyses as complementary approaches

Gabriella Gimigliano

International Journal of Islamic and Middle Eastern Finance and Management

ISSN: 1753-8394

Article publication date: 15 August 2016

632

Abstract

Purpose

The purpose of this paper is to contribute to the existing body of work in the area of Islamic banking by investigating the regulatory accommodation process of Islamic banking in Italy.

Design/methodology/approach

The method used is essentially based upon an analysis of laws, regulations and jurisprudence/legal doctrine.

Findings

In Italy, where Muslim represent, from a religious point of view, the second largest immigrant community, no Shari’a-compliant institution has been authorised yet, but no legal obstacle is laid down.

Research limitations/implications

The paper examines the accommodation process of Shari’a-compliant banking within the Italian system of banking and business law. Therefore, the paper is mainly based on the Italian jurisprudence/legal doctrine. Moreover, no comprehensive analysis of Islamic banking principles is provided.

Practical implications

The paper, investigating the accommodation process of Islamic banking in the Italian banking system, shows any legal and regulatory obstacles refraining Muslims living in Italy from living according to Islam and complying with the general regulation of undertakings.

Originality/value

Examination of the topic is originally undertaken because the investigation of Islamic banking in the Italian legal framework matches the business-based approach with the cultural-based approach as complementary analyses.

Keywords

Citation

Gimigliano, G. (2016), "Investigating Islamic banking in Italy: Business-based and cultural-based analyses as complementary approaches", International Journal of Islamic and Middle Eastern Finance and Management, Vol. 9 No. 3, pp. 364-387. https://doi.org/10.1108/IMEFM-07-2015-0078

Publisher

:

Emerald Group Publishing Limited

Copyright © 2016, Emerald Group Publishing Limited

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