Research & Reports

Research & Reports

Asset Publisher

null Islamic Finance Supports Socio-Economic Development

Islamic Finance Supports Socio-Economic Development

The financial sector plays a critical role in the socio-economic development of any country. Islamic finance was designed as a just and ethical financial system, supporting the efficient allocation of resources both for wealth creation purposes, as well as the betterment of society. Islamic finance is expected to further enhance socio-economic well-being in countries in which it operates, both through supporting the financial needs of households and businesses in a Shariah-compliant manner; as well as through additional support via zakat, waqf and Islamic microfinance.