Legal and Regulatory Framework in Islamic Banking System: Bangladesh Perspective
Islamic finance is one of the prominent phenomena over the last decade in the Middle-East and South-East Asia especially in banking industry. The role of Islamic banking in economy is still heavily debated.  The legal and regulatory framework in Islamic banking is more important rather than its function. But there is no independent body for regulating Islamic banking sector in Bangladesh. This paper argues that an independent body should be established for the regulation of Islamic banking in Bangladesh. Keywords: Regulation, Law, Islamic Banking, Bangladesh
The potential critical success factors of full-fledged interest-free banks in Ethiopia
Abstract. The role of interest-free banking (IFB) is vital to enhance the financial inclusion rate of a country like Ethiopia that has a substantial number of Muslims and unbanked population. Although IFB windows have been operating in Ethiopia since 2013, the country allowed a full-fledged IFBs recently. Accordingly, two banks have already fulfilled all the requirements and are expected to operate soon while another 2 – 4 banks are under formation. The aim of this paper is, therefore, to assess the potential critical factors that will determine the success or failure of the newly establishing full-fledged IFBs in Ethiopia based on globalexperiences and specific bank cases from more than 14 countries using the concept of Critical Success Factors (CSFs). The outcomes of our analysis indicate three things. First, every country has its unique success and failure factors, thus, benchmarking should consider these factors. Second, based on the current circumstances, the most important CSFs which can determine the fate of the full-fledged IFBs in Ethiopia in the near future will be an adequate legal, regulatory and institutional framework; management skills and capacity; good reputation and image; product innovation and investment alternatives; unconflicting Shariah verdicts and availability of central Shariah supervisory body; and entrepreneurial discipline and ethical values. Third, full-fledged IFBs in Ethiopia will confront severe competition from the existing window banks that has big potential, better experience, and flexible Shariah controls.The study suggests that the government’s regulatory intervention to introduce guidelines and banking regulations specific to the full-fledged IFBs. Keywords. Interest-free bank, Shariah compliance, Critical success factors, Ethiopia. JEL. G21, G41, Z12 .
Comparative Industrial Sociology and the Convergence Hypothesis
Industrial sociology grew spectacularly after World War II, concentrating on three areas: workers' relations with each other, their managers, and their unions; the social organization of the factory; and the impact of technology on social systems extending from the factory to the society. Unable to sus­ tain leadership in all of these areas, industrial sociology shrivelled as other fields invaded its domains. Human relations became the ideological property of the business schools; labor economics maintained its grip on industrial relations; industry-community relations waned as interest in community power soared; industrial organizations were absorbed into the study of com­ plex organizations; occupational sociology maintained research impetus in labor force analysis; and the sociology of the economy dominated the study of industry's institutional relationships. Industrial sociology survived on remnants: worker-machine relationships (job satisfaction, alienation, un­ employment), organizational responses to technological changes. and a bit of working-class ethnology. Enduring interest in technology, however, en­ abled industrial sociology to take part in sociology's expanding interest in comparative studies.