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The Barriers to, and Incidence of, Islamic Banking and Finance in CanadaTahmina, Tanita Noor 16 October 2013 (has links)
The non-interest and profit-loss sharing schemes of Islamic finance (IF) are attracting increasing global attention. Despite exposure to the similar opportunities as other Western countries that have adopted the financial business model there is little evidence of Islamic finance windows operating in the conventional institutions in Canada. This thesis takes a qualitative approach to bring the issue forward in Canadian social science literature by exploring the perceived challenges to, and the potential of, the development of IF offerings with a focus on factors affecting the supply and management decisions in the industry. The study used an inductive approach with archival data and critical survey of literature to arrive at the hypotheses surrounding the challenges. These were tested deductively by semi-structured interviews and panel discussions both in Canada and the US on a sample of senior officials involved in both IF and conventional financial institutions. Using a thematic analysis the study arrived at findings supporting the hypotheses related to awareness, regulation, management intent and internal resources. In the external environment, factors affecting strategic decision on offering IF services are mainly due to regulation, lack of awareness, even among Muslim communities, or misgivings about Sha’riah authenticity. Internally, highly customized IT infrastructures, lack of funds and foreign investment make it unfeasible. Management interest when proposed with the concept is high but not in a top-down manner and there is an overall uncertainty avoidance culture and little proactivity with market research. Access to specific Sha’riah knowledge is not considered a hurdle anymore. It is apparent that investments in Sha’riah compliant stocks would be easiest to set up. Mortgage structures can be affected by the capital market structure, even if not tax structures. Knowledge on this can have implications for banks seeking to expand their investment portfolios and aid government policies.
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The Barriers to, and Incidence of, Islamic Banking and Finance in CanadaTahmina, Tanita Noor January 2013 (has links)
The non-interest and profit-loss sharing schemes of Islamic finance (IF) are attracting increasing global attention. Despite exposure to the similar opportunities as other Western countries that have adopted the financial business model there is little evidence of Islamic finance windows operating in the conventional institutions in Canada. This thesis takes a qualitative approach to bring the issue forward in Canadian social science literature by exploring the perceived challenges to, and the potential of, the development of IF offerings with a focus on factors affecting the supply and management decisions in the industry. The study used an inductive approach with archival data and critical survey of literature to arrive at the hypotheses surrounding the challenges. These were tested deductively by semi-structured interviews and panel discussions both in Canada and the US on a sample of senior officials involved in both IF and conventional financial institutions. Using a thematic analysis the study arrived at findings supporting the hypotheses related to awareness, regulation, management intent and internal resources. In the external environment, factors affecting strategic decision on offering IF services are mainly due to regulation, lack of awareness, even among Muslim communities, or misgivings about Sha’riah authenticity. Internally, highly customized IT infrastructures, lack of funds and foreign investment make it unfeasible. Management interest when proposed with the concept is high but not in a top-down manner and there is an overall uncertainty avoidance culture and little proactivity with market research. Access to specific Sha’riah knowledge is not considered a hurdle anymore. It is apparent that investments in Sha’riah compliant stocks would be easiest to set up. Mortgage structures can be affected by the capital market structure, even if not tax structures. Knowledge on this can have implications for banks seeking to expand their investment portfolios and aid government policies.
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Grassroots Canadian Muslim Identity in the Prairie City of Winnipeg: A Case Study of 2nd and 1.5 Generation Canadian MuslimsHameed, Qamer January 2015 (has links)
What are grassroots “Canadian Muslims” and why not use the descriptor “Muslims in Canada”? This thesis examines the novel concept of locale specific grassroots Canadian Muslim identity of second and 1.5 generation Muslims in the prairie city of Winnipeg, Manitoba. The project focuses on a generation of Muslims that are settled, embedded, and active in a medium sized Canadian metropolis. Locale plays a powerful part in the way people navigate identities, form attachments, find belonging, and negotiate communities and society. In order to explore this unique identity a case study was conducted in Winnipeg. Interviews with 1.5 and second generation Muslims explored the experience of grassroots Canadian Muslim identity. The project does not focus on religious doxy or praxis but rather tries to understand a lived Canadian Muslim identity by exploring discourse and space as well as strategies, social perceptions and expectations. Participant observation, community resources and literature also aid in the understanding of the grassroots Canadian Muslim experience. This study found that the attachments, networks, and experiences in the locale give room for an embedded Canadian Muslim experience and more negotiable identities than most studies on Muslims in Canada describe. These individuals are not foreigners living in Canada. Their worldviews develop out of this particular and embedded grassroots experience. They navigate a new kind of hybrid Canadian Muslim identity that is unique and flexible. This is the Canadian Muslim experience of 2nd and 1.5 generation Winnipeg Muslims.
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