Factors delaying the establishment of the Islamic banking system in Afghanistan

Abstract

According to some economical politicians of the world, Islamic scholars and the mental state of most Muslims who have a moderate economy, existence of Islamic banking considered an important issue. After the downturn of the economy of the world several economical politicians, even Vatican pointed out; that the Islamic banking could be an alternative for the existing economic system. According to Afghan Islamic scholars and some Afghan merchants, Afghanistan is a pour country. But due to some factors it has been founded so late in Afghanistan. The basic rolls of Islamic economic have solutions for the poverty. Afghanistan is an Islamic state, and almost all residents are Muslim. 90% of the people do not use conventional banks due to religious orders in Afghanistan. But Islamic Banking system was founded so late compared to other countries. There are some factors caused late establishment of Islamic Banking system in Afghanistan. These factors will be discussed in this paper.