Strategic Management in Islamic Finance

In the last decades, Islamic finance has evolved to become one of the most dynamic and fastest developing business areas in the global financial industry. Although still a niche market, the segment is experiencing ever increasing competition and, especially in recent years, has left its home turf with Islamic financial products being offered in major markets outside the Muslim world, such as the United States and Great Britain. While academic research has extensively covered the basics and a selection of special issues regarding Islamic finance and Islamic economics, the determinants of strategic management in Islamic finance have not drawn the same degree of attention in the literature. As will be presented in the following paragraphs, this study intends to make a contribution to this significant research area. 1.1 Research Problem “The foremost belief around which all the Islamic concepts revolve is that the whole universe is created and controlled by One, the only One God. He has created man (…) to fulfill certain objectives through obeying His commands.