Economic Development and Islamic Finance

Although Islamic finance is one of the fastest growing segments of emerging global financial markets, its concepts are not fully exploited especially in the areas of economic development, inclusion, access to finance, and public policy. This volume is to improve understanding of the perspective of Islamic finance on economic development, social and economic justice, human welfare, and economic growth.

Figure 12.2 A transmission mechanism in an islamic economy Real sector 1.
Government issues equity participation shares, which can be used by the central
bank (CB) as its monetary policy tool 1. CB issues equity participation
Government ...