Enhancing Financial Inclusion through Islamic Finance

Governments around the world are increasingly viewing financial inclusion as an important part of economic development. More than 50 countries have set formal targets and ambitious goals for financial inclusion which is critical in poverty alleviation and in line with the main features of a Shariah-compliant. While various Shariah-compliant programmes in Malaysia, Bangladesh and Indonesia have seen significant success in poverty alleviation in those countries, substantial improvements are needed in terms of financial infrastructure to enable the world’s poor to benefit from economic advancement. With proper infrastructure and regulations in place Islamic finance will eventually contribute to a more inclusive economic growth.

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