Conceptualizing and examining the critical success factors for implementing Islamic banking system towards banking sector of Iran: A mixed method approach

Islamic banking, as a major center for financial transactions in Islamic societies, plays a key role in the development of Islamic economics. The fundamental essence of Islamic banking system is based on the fact that although, Islam has forbidden the interest in transactions, but trade and profit is encouraged and supported. The actual implementation of the Islamic banking system due to its unique features can be the source of many benefits and advantages for Islamic countries; and it is more significant when we recognize that the banking sector is the largest body of Iranian service sector of economy. However, a significant proportion of the banking system has been Islamized in Iran. Therefore, this study seeks to use empirical evidence to conceptualize and examine the critical success factors for the implementation of Islamic banking system in the banking sector of Iran. To achieve this purpose using mixed method approach, the research framework has been designed and examined. The required data in the qualitative part of the study were collected after detailed literature review and research background- through in-depth interviews with banking executives and academic experts; then the quantitative part of the study for framework examination was conducted using survey. Based on this study's findings, the fitted model of critical success factors (CSFs) for successful implementation of Islamic banking in the banking sector of Iran is proposed. Finally, both applied and theoretical recommendations and directions are shown in this study.