Synchronization in Finance: Probing the Feasibility of Islamic Banking and Takaful Business in India

Abstract

The article evaluates empirical information to evaluate the impact of regulatory changes, market demands, financial performance, and regulatory challenges on implementing IBT in India. The research had 196 people as part of its sample, coming from various religious groups. A random method ensured the sample had people from different groups: simple t-tests and one-way Welch's ANOVA for other groups, including regression analysis about how statistics relate. This study adds to what we already know by proving that regulations affect the success of Islamic financial products in India. The remarkable thing about it is the careful use of many statistical methods, helping us to understand how different things affect each other well. This research is essential for people who make rules, work in financial fields, and study. It explains how Islamic banking and Takaful might work well in India. By applying these results, India could have a more effective strategy to establish a fair and plural financial landscape.