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 po- tential 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.