عنوان

Somali Remittance Companies' Transition to Islamic Banks

Number

TLpq2507992053

.Language of Text, Soundtrack etc

انگلیسی

Title Proper

Somali Remittance Companies' Transition to Islamic Banks

General Material Designation

[Thesis]

First Statement of Responsibility

Farah, Ali Abdi

Subsequent Statement of Responsibility

Levasseur, Robert E.

Name of Publisher, Distributor, etc.

Walden University

Date of Publication, Distribution, etc.

2021

Specific Material Designation and Extent of Item

234

Dissertation or thesis details and type of degree

Ph.D.

Body granting the degree

Walden University

Text preceding or following the note

2021

Text of Note

Somalia's financial industry is transforming. Some remittance companies have transformed into Islamic banks, which was not easy because the remittance companies lacked the technology, finance, and human capital necessary to make the banks sustainable. Money transfer operators that transform into Islamic banks also risk failure due to limited knowledge of the transformation's effects. The purpose of this descriptive phenomenological study was to explore the lived experiences of a sample of leaders of Somali remittance companies that were transformed into Islamic banks. A three-step conceptual framework consisting of goal, process, and outcome guided the inquiry. The research question concerned the lived experiences of bank leaders who participated in a transformation from a remittance company to an Islamic bank. In-depth interviews of a purposeful sample of 10 participants yielded the study data. The results showed that existing demand was the most significant driver of organizational change. Apart from the scarce Islamic banking expertise in Somalia, one of the significant challenges the new banks faced was resistance to organizational change. Further research on the effectiveness of the new banks and their effect on Somali society is necessary. This study could contribute to positive social change if other bank leaders who face the need to change from a remittance company to an Islamic bank use the study findings to ensure a successful, sustainable transformation, thus providing Somalians with greater access to shariah-compliant products and services.

Finance

Management

Farah, Ali Abdi

Levasseur, Robert E.

Electronic name

p

[Thesis]

276903

a

Y