A survey of Islamic banking and finance literature: issues, challenges and future directions

This paper undertakes a survey of the literature on Islamic banking and finance. The aim is to provide an understanding of the literature, identify key issues and challenges, and explore potential directions for future research. Our survey reveals that there is a need to; (a) focus on new areas of research including datasets, (b) establish the economic significance of the statistical results, (c) undertake research that explores new questions/hypotheses, and (d) establish the robustness of the findings. The paper discusses these issues.