A Structural Analysis of Barriers Being Faced by Green Banking Initiatives in Pakistan


Abdul Aziz Khan Niazi
Tehmina Fiaz Qazi
Hira Tanweer Butt
Ifra Aziz Khan Niazi
Abdul Basit


The aim of this study is to investigate the barriers to green banking in Pakistan. For this purpose, the research is conducted within the panel of 15 experts. It is a qualitative research, with philosophy of interpretivism and it is an exploratory study. For analysis purpose, ISM and MICMAC are used in this study. It consists of literature discourse, collection of data and analysis. This study is conducted after identification and verification of the barriers to green banking in Pakistan. for the purpose of data collection, a panel of experts have been selected. The data have been collected on a matrix type questionnaire from different stakeholders of green banking. Interpretive structural modeling (ISM) and MICMAC are used for structural analysis. Thirty barriers of green banking in Pakistan have been identified from literature, out of which 27 factors are verified by the experts. The results revel that “lack of internal capacity” is the key barrier as it is present at the last level of structural model. “Lack of technology” and “lack of formal guidelines” are also considered as crucial barriers as they are present at the bottom of the model. Thirteen barriers are at the center levels and considered as moderately severe while eleven barriers are at top level that means they have a less severe effect. The results of MICMAC also go along the results of ISM. It is an original attempt to provide a detail view on barriers of green banking that can help government, regulators, society, policy makers and academia. This study will have a great implication for its stakeholders such as banks, regulators, customers etc. It will have theoretical as well as practical implications.


How to Cite
Niazi, A.A.K. , Qazi, T.F. , Butt, H.T. , Niazi, I.A.K. and Basit, A. 2023. A Structural Analysis of Barriers Being Faced by Green Banking Initiatives in Pakistan. Journal of Policy Research. 9, 2 (Jun. 2023), 182–199. DOI:https://doi.org/10.5281/zenodo.7959118.

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