Impact Of Islamic Finance Research Articles

The Impact of Islamic Finance on Carbon Emissions: Lessons from OIC Countries

Environmental degradation especially the spread of emissions per capita in OIC countries has increase very rapidly with one of the factors being sharia bank financing. This study aims to know the financing of sharia banking and the other common factors in influencing emissions per capita in OIC countries. The method that will be used is panel data analysis with the Generalized Least Square (GLS) weighting model Fixed Effect Model (FEM). The results of this study indicate that Islamic bank financing, real GDP per capita, and trade openness have a positive and significant effect on emissions per capita. Then from the results of this study indicate that urbanization has a negative but it’s not significant effect on emissions per capita. The results of this study can be used as a basis for sustainability policies in the government and company regulations such as the application of the concept of green industry and the development of clean and environmentally friendly technologies and sharia banking in OIC countries can provide sustainable financing so that the financing provided is not only profit-oriented but also realizes green financing for the community and companies in general.

The impact of Islamic Finance towards Socio-Economic Development of Sokoto State - Nigeria: Problems and Prospects

This research is on the impact of Islamic Finance towards the Socio-Economic Development of the Muslim Community in Sokoto State of Nigeria. The purpose of this research is to highlight the role played and contributions gained from the practice of Islamic Finance and also to explore possible challenges experienced so far with the hope that such challenges will be overcome in the near future. The research results revealed that although Islamic finance was practiced in Sokoto for over two hundred years, a lot still needs to be explored from the contemporary practice of Islamic Finance being experienced globally to achieve the desired socio-economic development. The research finally concluded by drawing the attention of the government and people of Sokoto State to explore more avenues in utilizing Islamic Finance window so that there will be paradigm shift from the shackles of conventional finance experienced over the years.

Does Islamic financial development foster economic growth? International evidence

Purpose Several studies link Islamic finance to economic growth. There are at least two major limitations in these investigations. First, the proxy used to measure Islamic finance may not represent the whole impact of Islamic finance on economic growth because it only considers a subset of variables like Islamic banks’ deposits or sukuk issuance, etc. Second, it is difficult to extrapolate findings to other markets because most studies were conducted in just one nation or a small group of countries. Overcoming these issues is the driving force behind this research. In doing so, the study aims to use the overall Islamic Financial Development Index as a proxy for Islamic finance. The index measures the quantitative growth, knowledge, corporate social responsibility, governance and awareness of the Islamic financial sector. Design/methodology/approach Using a panel data set of 67 countries starting from 2012 to 2020, this study investigates the relationship between Islamic finance and economic growth. Findings The authors find that Islamic finance contributes to economic growth. This connection is more robust in Muslim and developing nations than it is in non-Muslim and developed nations. Practical implications To promote a country’s economic growth, the authors propose that regulators should focus on development of Islamic finance. To increase the reach of Islamic products, the government should take initiatives to raise public awareness of Islamic finance. Social implications The findings imply that Islamic finance may have a more significant impact on socio-economic development in countries with a higher concentration of Muslim population and those in the developing stage. It highlights the potential role of Islamic finance in addressing socio-economic challenges and promoting inclusive growth in these regions. Originality/value This is the first study to use a more comprehensive sample of countries, covering both Muslim and non-Muslim nations, as well as both developing and developed nations. In addition, this study, unlike its predecessors, used a more robust and comprehensive index of Islamic finance developed by Thomson Reuters.

Beyond finance: Impact of Islamic finance on economic growth in Pakistan

Islamic finance, which may have been considered only in the context of a multitude of trading structures among economists, merits a fresh evaluation in how it dovetails with and supports national economic growth. This study examines the dynamic interaction between Islamic financing and economic growth of Pakistan by employing the unit root test, cointegration test and Granger Causality tests to see whether the Islamic financial system influences the economic growth. For the analysis, time series data of total Islamic financing and real GDP per capita, Islamic financial assets, and population to represent real economic sector were considered. Findings/Originality : This paper finds that a well-functioning Islamic financial system promotes economic growth. It also finds an evidence of a bidirectional relationship between Islamic asset financing and population. It implies that population reinforces Islamic finance, and population attracts Islamic financing.

The Impact of Islamic Finance in Promoting Education for Sustainable Development

The world is witnessing major changes in the vision and approach of higher education and its educational and research orientations. These changes have been in response to global developments and developments that have changed many concepts and attitudes towards higher education. According to this vision, the current research aims to identify the possibility of abandoning the civil education in Iraq from the traditional perspective aimed at education and scientific research and turning to the modern perspective which works to build an integrated system to reach the approach of sustainable development in education by focusing on the environmental,
 The transformation of education from a traditional perspective to a modern perspective based on sustainable development requires an increase in its capabilities and capabilities. Therefore, educational institutions need to increase their sources of funding and resort to Islamic finance as one of the main sources of funding. 
 In order to achieve the objectives of the research, a questionnaire was designed to show the extent to which Islamic banks have access to the funding structure of the faculties of Islamic studies (Islamic University, Al-Sheikh Al-Tusi College, Al-Kafeel College). The questionnaire was distributed in full, (Spss, v.15), where the results showed a relationship of correlation and effect between the variables of the study. The study also examined the size of the financial qualifications for the Islamic banking sector to enter the field of financing private education. The financial analysis was conducted for a sample of banks which reached (6) banks and over a period of time (2013-2016). The study reached a number of conclusions, the most important of which is that the Islamic banks sample study has the qualifications, capabilities and sufficient resources to enter as a partner or lender to the sector of civil education.

Frontiers in Islamic Finance

This lecture was delivered in ICMAP Islamabad [February 12, 2013], ICMAP Lahore [March 2014] and IFAP-FSM [March 2014]. It includes following subtopics: Why Islamic Finance? What are the principles of Islamic finance? What are features of Islamic banking? How Islamic banking developed (a brief history)? What is current status (industry overview)? Comparative Performance of conventional and Islamic banking in Pakistan; Products (contracts) used by Islamic bankers; Brief intro of capital market activities (of Shari’a compliant Investors); Global Impact of Islamic finance; Challenges for Islamic finance industry.