This paper investigates the possibilities of institutionalizing Islamic banking in Serbia. The research offers a rationale based on needs and an explanation for the establishment of Islamic banking in Serbia and the Sandžak region. In addition, this study attempts to explain how the basic economic laws of supply and demand can affect conditions and provide commercial and rational justifications for establishing the option of Islamic banking. There are currently no Islamic banking and related financial industries in Serbia, but the previously poor socio-political-economic situation has improved somewhat since 2001, when democratic openings and wider political participation allowed new political groups to take the lead. In addition, Muslims are in fact demanding substantial changes that will affect the socio-economic development of Muslim minorities in Serbia. In this regard, the research will offer an important contribution to finding an original solution for religious communities in order to achieve their economic sustainability and achieve full social inclusion. The case study aimed to analyze observations of questionnaire participants in addition to collecting artefacts and texts, to evaluate and optimally utilize this data. Results have clearly shown readiness and willingness of questionnaire participants that Islamic banking is welcome enterprise in Serbia and Sandzak.
Pramenković et al. (Thu,) studied this question.