The Role of Islamic Finance in Sustainable Development.
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Date
2015
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Journal of Islamic Thought and Civilization.
Abstract
The current global inclination is to utilize non-renewable resources
responsibly and create a world that future generations can thrive in. In
order to achieve this aspiration countries all over the world agreed upon a
set of sustainable development goals (SDGs). Sustainable development is
a concept that incorporates meeting “the needs of the present without
compromising the ability of future generations to meet their own needs”.
This depends largely upon economic growth. Islamic finance has been
highlighted in recent research regarding impact on financial sector due to
its considerable growth. The purpose of this paper is to discuss the major
perspectives in which Islamic Financial Institutions (IFIs) play a
fundamental role in the achievement of sustainable development goals.
The literature suggests five main aspects which are reviewed from the
perspective of existing research.
Description
Keywords
Finance, Developing infrastructure, financial inclusion, financial stability, Islamic financial institutions, poverty alleviation, sustainable development
Citation
Sadiq, R., & Mushtaq, A. (2015). The Role of Islamic Finance in Sustainable Development. Journal of Islamic Thought and Civilization, 5(1). (Ramla Sadiq and Afia Mushtaq) (UMT Journal)