I think the challenging topic is about Syariah Financing, can it exist in the capitalism world

it also worth mentioning that the both capitalism and shariah walks in opposite direction.

Yes M. Rao, that's why it is quiet challenging to be an interesting topic for a thesis.

Consider doing something more local in collaboration with the industry (if possible) for an impactful research that informs the industry and even the regulators while offering new insights for the academia. An emerging research strand has considered the ‘role of Islamic banks in promoting Financial Inclusion’. Your setting allows you to test this on a dual banking system in which you could twist it further to show the link with financial stability.

Please have look on our(Eminent Biosciences (EMBS)) collaborations.. and let me know if interested to associate with us

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You can find the following studies helpful in your research:

Article Exploring the Role of Islamic Fintech in Combating the After...

Chapter Applications of Blockchain Technology in the Finance and Ban...

Article Religion vs ethics: hedge and safe haven properties of Sukuk...

Further, you can consider studies in the following link:

https://www.researchgate.net/profile/Sitara-Karim/research

Here are some Islamic finance thesis topics that you can consider:

• The sources of uses of funds in Islamic banks — country or region-specific comparative analysis
• Islamic banking experiences: A country comparative analysis or study
• Islamic Banking Theories and Practices: country analysis
• Islamic banking windows/systems into Conventional Banking Systems
• Islamic Finance: As an alternative socially responsible and ethical investing.