Islamic Banking and Finance: Beyond Comparison and Investment Opportunities

Ibrahim, Mansor H.; Ebrahim,

doi:10.1016/j.pacfin.2018.11.006

Cited by 4 publications

(5 citation statements)

References 27 publications

(39 reference statements)

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“…They established that Islamic finance bolsters EG. IBs lead to augmented financial inclusion which in turn higher EG (Ibrahim & Shahid Ebrahim, 2018). Our results are in line with the supply‐leading theory in the case of Pakistan.…”

Section: Resultsmentioning

confidence: 99%

Exploring asymmetric relationship between Islamic banking development and economic growth in Pakistan: Fresh evidence from a non‐linear ARDL approach

et al. 2020

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Islamic banking has gleaned considerable attention recently owing to its quantum growth. This study examines the asymmetric association between Islamic banking development (IBD) and economic growth (EG) in Pakistan that spans 2007Q1 to 2017Q4. We apply the non‐linear autoregressive distributed lag (NARDL) model of Shin et al., (2014). Our findings confirm co‐integration between IBD and EG in Pakistan. The positive (negative) shocks of IBD have significant positive (negative) association with EG in the long‐run; however, only positive shocks have significant positive relationship with EG in the short run. We observe that the interconnection between IBD‐EG is asymmetric/non‐linear in the long‐run, whereas symmetric/linear in the short run. We conclude that unlike the linear models, the non‐linear models provide realistic results by capturing hidden asymmetries, thereby assisting policymakers in useful decision making.

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Section: Resultsmentioning

confidence: 99%

Exploring asymmetric relationship between Islamic banking development and economic growth in Pakistan: Fresh evidence from a non‐linear ARDL approach

et al. 2020

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“…COVID-19 has paved way for the adoption of social and open innovation to thrive and grow [ 92 , 95 ]. Islamic finance is a product of social innovation intended to bring the positive changes in the society with its ethical and social financial services, unlike its conventional financial counterpart which is more capitalist in its design [ 11 , 96 ]. The social and open financial innovation like Fintech can provide the solution to the crisis with its sustainable financial services [ 97 , 98 ].…”

Section: Literature Review and Research Frameworkmentioning

confidence: 99%

“…Islamic finance places great importance on improving quality of life, equal distribution of income, and social justice for everyone. Islamic finance is sustainable as it offers financial services which are asset backed, ethical, and based on the PLS method, which means it shares risks equitably and is subject to good governance [11][12][13].…”

Section: Introduction and Research Questionmentioning

confidence: 99%

Exploring the Role of Islamic Fintech in Combating the Aftershocks of COVID-19: The Open Social Innovation of the Islamic Financial System

Rabbani

Bashar

Nawaz

et al. 2021

Journal of Open Innovation: Technology, Market, and Complexity

108

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The purpose of the current study is to investigate the role of the Islamic financial system in recovery post-COVID-19 and the way Fintech can be utilized to combat the economic reverberations created by COVID-19. The global financial crisis of 2008 has established the credentials of the Islamic financial system as a sustainable financial system which can save the long run interests of the average citizens around the world while adding value to the real economy. The basic ethical tenets available in the Islamic financial system make it more suited and readymade to fight the economic aftershocks of a pandemic like COVID-19. The basic principles of ethical Islamic finance have solid connections to financial stability and corporate social responsibility within the wide-reaching business context. With the emergence of Financial technology (Fintech) it has provided a missing impetus to the Islamic financial system to compete on equal ground with its conventional counterpart and prove its mettle. The study uses discourse analysis along with the content analysis to extract content and draw a conclusion. The findings of the study indicate that COVID-19 pandemic has provided the opportunity for the social and open innovation to grow and finance world have turned to open innovation to provide a speedy, timely, reliable, and sustainable solution to the world. The findings of the study provide significant implications for governments and policy makers in efficient application of Fintech and innovative Islamic financial services to fight the economic consequences of the COVID-19 pandemic.

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“…The state of the Islamic Economy Report 2018/19 has outlined eleven priority SDGs goals for Islamic finance, as illustrated in Table 1. The enablers recommended by economic participants for the development of Islamic finance in achieving the SDGs are that consumers should demand for social impacts and ethical financial services, investors should be highly concerned about high impact investments for companies, the industry should expand ethical and social finance products and services, and governments need to facilitate ethical finance standards and regulations besides providing incentives to the industry (Ibrahim & Ebrahim, 2018). Sadiq & Mushtaq (2015) outlined five main aspects of the role of Islamic financial institutions towards sustainable development, which are the financial sector's stability and resilience, inclusive finance, developing infrastructure, resolving social and environmental issues, and reducing vulnerability and mitigating risk.…”

Section: Resultsmentioning

confidence: 99%

Sustainable Development Goals and Islamic Finance: An Integrated Approach for Islamic Financial Institutions

Muhmad

Muhamad

Sulong

2021

IJSAM

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The challenges posed by environmental degradation and abandoning of social rights to secure business interests have highlighted the importance of focusing on sustainable development within the global financial system, especially among citizens and policymakers. The timely declaration of the Sustainable Development Goals (SDGs) by the United Nations is appropriate in addressing environmental degradation. In fact, the SDGs have become part of the fundamental agenda and essential requirements of every business, including Islamic financial institutions. In particular, the concept of sustainable development is parallel with Islamic teachings, which promote welfare, security, and rights for the sake of the current and future generations. Furthermore, Islamic finance and the SDGs are closely associated, as the former is capable of serving a meaningful function in sustainable development to achieve the goals of implementing fair and equitable tools, promoting resource mobilization, and enabling social benefit tools. Therefore, this study highlights an important case for Islamic financial institutions by expounding on the best indicators for sustainable Islamic finance.

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Islamic Banking and Finance: Beyond Comparison and Investment Opportunities

Cited by 4 publications

References 27 publications

Exploring asymmetric relationship between Islamic banking development and economic growth in Pakistan: Fresh evidence from a non‐linear ARDL approach

Exploring asymmetric relationship between Islamic banking development and economic growth in Pakistan: Fresh evidence from a non‐linear ARDL approach

Exploring the Role of Islamic Fintech in Combating the Aftershocks of COVID-19: The Open Social Innovation of the Islamic Financial System

Sustainable Development Goals and Islamic Finance: An Integrated Approach for Islamic Financial Institutions

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