Explaining the role of integrated monetary banking system on transparency of interest-free institutions transactions: a case study at interest-free institutions of Iran

Mehrdad Leylabi, Sara Malekan, Mehdi Majidpour
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Abstract

Purpose

The aim of this paper is to explain that what main characteristics financial technologies should have so that lead to improve the transparency of institutions and whether the integrated monetary banking system deployed in free-interest institutions has affected the transparency of these institutions in terms of those characteristics or not? In this study, the integrated monetary banking system will be studied subject to implementation of the Shafagh project.

Design/methodology/approach

Based on the literature review and the experts' opinions, the principles of the research questions were explained. Then, according to the dimensions of the research conceptual model, questions related to research questions were considered as the item for analysis in the modeling of structural equations. In the next step, 278 employees and managers of interest-free institutions were selected, by simple random sampling method, to answer the questionnaire. Data collected is analyzed by using structural equations method.

Findings

The results of the analysis indicates that the impact of the dimensions of strategic, technical, organizational and cultural factors – identified as the main characteristics of a financial system in this study – on the transparency of the transactions of the interest-free institutions is significant.

Research limitations/implications

The results were obtained by focusing on the qualitative factors and also on the culture on free-interest institutions.

Practical implications

By investigating the issues and factors that the developers, consultants and institutions’ managers need to address and also giving a conceptual model, this study assists managers and generally financial institutions in developing an integrated banking system in a way that will be more likely to improve transparency in those organizations.

Originality/value

This study pioneers a comprehensive conceptual model, surpassing prior research that focused on isolated criteria. This novel approach enriches understanding of core banking systems' impact on financial transparency. This groundbreaking study uniquely focuses on free-interest institutions, traditionally presumed to be transparent but never before studied.

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解释综合货币银行系统对无息机构交易透明度的作用:伊朗无息机构案例研究
本文旨在说明金融技术应具备哪些主要特征,从而提高机构的透明度,以及在自由利益机构中部署的综合货币银行系统是否在这些特征方面影响了这些机构的透明度?在本研究中,将根据沙法赫项目的实施情况对综合货币银行系统进行研究。设计/方法/途径在文献综述和专家意见的基础上,解释了研究问题的原则。然后,根据研究概念模型的维度,将与研究问题相关的问题作为结构方程模型的分析项目。接下来,通过简单随机抽样的方法,抽取了 278 名免息机构的员工和管理人员回答问卷。分析结果表明,战略、技术、组织和文化因素(在本研究中被确定为金融体系的主要特征)对免息机构交易透明度的影响是显著的。研究局限性/意义研究结果主要集中在定性因素以及免息机构的文化方面。通过调查开发人员、顾问和机构管理者需要解决的问题和因素,并给出一个概念模型,本研究帮助管理者和一般金融机构开发综合银行系统,从而更有可能提高这些组织的透明度。这种新颖的方法丰富了人们对核心银行系统对财务透明度影响的理解。这项开创性的研究独特地将重点放在了自由利益机构上,传统上认为这些机构是透明的,但以前从未对其进行过研究。
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来源期刊
CiteScore
5.40
自引率
10.00%
发文量
45
期刊介绍: The International Journal of Islamic and Middle Eastern Finance and Management (IMEFM) publishes quality and in-depth analysis on current issues within Islamic and Middle Eastern finance and management. The journal welcomes strong evidence-based empirical studies and results-focused case studies that share research in product development and clarify best practices. The title is also keen to consider work from emerging authors. IMEFM has just also accepted into Clarivate''s SSCI in 2018, and its IF will be available in summer 2019, with citations dating from 2016. The coverage includes but is not limited to: -Islamic finance: Fundamentals, trends and opportunities in Islamic Finance, Islamic banking and financial markets, Risk management, Corporate finance, Investment strategy, Islamic social finance, Financial planning, Housing finance, Legal and regulatory issues, -Islamic management: Corporate governance, Customer relationship management and service quality, Business ethics and corporate social responsibility, Management styles and strategies in Shariah environments, Labour and welfare economics, Political economy. The journal is the only title aiming to give an interdisciplinary and holistic view on Islamic finance and business management practices in order to inform these two intertwined communities.
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