The Belt and Road Initiative and the influence of Islamic economies

Belt and Road Initiative (BRI): New Forms of International and Cross-Industry Collaboration for Sustainable Growth and Development

“…BRI is likely to re-shape the way we conceive of, conceptualize, and manage manufacturing, logistics, and policies, including innovation policy geared toward attaining sustainable growth and development. So-called emerging markets that are included in BRI will be the most interesting cases to observe and follow in this respect [4][5][6]. Given the profound implications BRI is likely to generate in the fields of businesses, economy, society, and politics, it is imperative to frame and streamline the discussion to identify the key mechanisms and causal relationships that it induces.…”

Belt and Road Initiative and Islamic Financing: The Case in Public Private Partnership Infrastructure Financing

“…It is therefore crucial to explore alternative financing mechanisms such as Islamic finance. Selmier (2018) suggested that Islamic financing could provide China with a financing facility that is tailored for investment requirements and operational needs. To bridge the funding gaps on many infrastructure projects, it has been seen that China does welcome investment support from Islamic finance, as shown in the case of Tharparkar 660 MW coal-fired project in Pakistan, where some of the financing comes from Islamic financial institutes (Dawn, 2015).…”

“…As China continues to expand its economic influence in Muslim-majority countries, it helps to understand the merits associated with Islamic finance and employ those merits in development policies. Selmier (2018) suggested three ways to integrate Islamic economics into the BRI: 1) utilise Islamic financial products that fit into BRI's financing strategy; 2) use Islamic financing centres which follow less restrictive standards; and 3) expand AIIB ties with Islamic finance experts. As ICD (2017: 87) put it: "collaborations between mature and emerging regional centres in Islamic finance can serve as a catalyst for the development of talent and knowledge in the industry".…”

“…Moreover, the Islamic economics has the potential to contribute immensely to China's economic development by supporting China's role as a 'megatrader' (Kamel, 2018). Dated back in the eight century, the Silk Road not only represents as a network of international trade routes (Selmier, 2018) but also serve as intercultural hub which allowed the travelers and merchants to exchange cultures, language, and technical know-how (Tan, 2018). Given the geopolitical and economic significance of the new 2.…”

Ekonomi Kemakmuran Bersama: Indonesian Islamic Economic Thought of Kahrudin Yunus

“…This opinion implies that the economics, both as a system and a science, can work properly as its ideal function when it becomes public knowledge. It is a big question regarding the development of the Islamic economics today, whether Islamic economics really has led to public knowledge or become luxe studie which is only controlled by certain groups (Selmier, 2018).…”