Current performance of Islamic bank around the world Dissertation

electric current capital punishment of Muslim bank around the world - Dissertation ExampleHowever, some countries such as Ind unrivaledsia, Bangladesh, Egypt, Malaysia and Jordan are fling the services of Muslim banking through traditional banking services. In some countries uniform Pakistan, in that location are banks that are operating in accordance with the Islamic laws and at the same time in that respect are some banks that are practicing conventional banking and at the same time some of their branches are offering Islamic banking services. Not only there has been an increasing trend of Muslim majority countries practicing Islamic banking products plainly certain Western countries including united Kingdom, United States and Australia have been also observing an increasing trend in regard to the Islamic banking.Although the pains of Islamic banking is still growing and an emerging industry, but in contrary parts of the world this industry has been achieving very high p rofits unlike United Kingdom. However in countries like Pakistan, Bangladesh, Bahrain this industry has been growing. In Pakistan, Islamic banks have reported a profit of 5.7 PKR which is approximately 59% of the total market share in the year 2011 (The News, 2012).). In Bahrain, Islamic banking industry is also one of the fasted growing industries of the countries and still there are several opportunities in the countries (Laxman, 2011). In addition to this, Islamic banking industry is showing good progress and is giving tough time to traditional banks in several former(a) western countries. Financial performance of Islamic financial institutions in UK United Kingdom and particularly capital of the United Kingdom has been considered as an important market place by investors and in this part of the world both Islamic and non-Islamic banks have invested. Initially Islamic banks started their services in London by offering simple products like house financing however with the passage of time the quality of products as considerably as the complexities compound increased (Ainley, Mashayekhi, Hicks, Rahman, and Ravalia, 2007). after analysing different opportunities for profits and growth, number of Islamic banks invested in United Kingdom and tried to capitalise on these opportunities. Some of the most prominent names of Islamic banks in UK are Islamic money box of Britain HSBC Amanah Lloyds TSB The products and services offered by Islamic banks are not only for Muslims but for non-Muslims as well and this is one of the reasons why it has become highly famous in UK despite of the challenges it faces. However recently the performance of the Islamic bank has not been satisfactory and the opportunities that every one identified had not been capitalised by these Islamic banks. This is one of the reasons why one of the leading Islamic banks, Islamic bank of Britain had to be bailed out in the year 2010 by Qatar after several successive years of losses. After the fi nancial crisis, the Islamic banks in United Kingdom have suffered a lot. Lloyds Islamic bank also removed its investment from United Kingdom as they did not see bright future in the country (Goodway, 2010). Islamic Bank of Britain which has been able to make a name in the United kingdom is also losing its customers. in 2009, the Islamic bank had lost almost 50,000 customers as the total loss of the bank increased to ?9.5 million from ?5.9 million. Considering the spotlight of the bank, IBB had to raise additional capital of 2009. Then