Banking on Islamic finance to turn the tide

As the Covid-19 crisis is said to have been induced exogenously, the effect of the pandemic on Islamic financial institutions is regarded as comparable to that of conventional banks, due to the similarity of the business model.

Nevertheless, it is understood that Shariah-compliant equities are said to be performing remarkably well in contrast to conventional counterparts. Generally, the crisis will bring about challenges when it comes to liquidity, resilience as well as capital for the banking sector, and these are all significant components of the financial industry.

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