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THE ARAB MONETARY FUND ISSUES A STUDY ON "THE IMPACT OF ISLAMIC FINANCE ON FINANCIAL INCLUSION IN THE ARAB REGION" DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

THE ARAB MONETARY FUND ISSUES A STUDY ON "THE IMPACT OF ISLAMIC FINANCE ON FINANCIAL INCLUSION IN THE ARAB REGION"

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THE ARAB MONETARY FUND ISSUES A STUDY ON "THE IMPACT OF ISLAMIC FINANCE ON FINANCIAL INCLUSION IN THE ARAB REGION" Empty THE ARAB MONETARY FUND ISSUES A STUDY ON "THE IMPACT OF ISLAMIC FINANCE ON FINANCIAL INCLUSION IN THE ARAB REGION"

Post by claud39 Wed Jun 30, 2021 10:19 am

THE ARAB MONETARY FUND ISSUES A STUDY ON "THE IMPACT OF ISLAMIC FINANCE ON FINANCIAL INCLUSION IN THE ARAB REGION"
 2021-06-29


THE ARAB MONETARY FUND ISSUES A STUDY ON "THE IMPACT OF ISLAMIC FINANCE ON FINANCIAL INCLUSION IN THE ARAB REGION" Logo-ar




Financial inclusion responds to changes in the Islamic Financial Development Index in the Arab countries
The necessity of activating the role of Islamic finance within the financial sector to enhance financial inclusion
 Offering Sharia-compliant products at reasonable costs contributes to improving levels of financial inclusion
Supporting financial sector supervisors to expand Sharia-compliant banking services, which helps enhance financial inclusion
 


Within the framework of the efforts made by the Arab Monetary Fund in the field of studies and research activity with the aim of supporting the authorities in Arab countries on the level of priority economic and financial policy issues, the Fund issued, within the framework of the “Series of Studies for the Development of the Financial Sector”, a study on “The Impact of Islamic Finance on Financial Inclusion in the Region Arabic ". The study aims to measure the effects of Islamic finance on financial inclusion in sixteen Arab countries during the period from 2011 to 2019, in addition to taking into account the impact of two other variables: domestic credit provided to the private sector and per capita GDP. The study also provides an analytical framework for policy makers in the Arab region, which contributes to enhancing understanding of the relationship between Islamic finance and financial inclusion, and thus setting appropriate policies.



Studies on the relationship between Islamic finance and financial inclusion in advanced and developing economies have received increasing attention in recent years. Most of them have found a difference in the nature of the relationship between Islamic finance and financial inclusion as a result of the heterogeneity between economies and the different level of Islamic financial development. On the other hand, many Arab countries have paid increasing attention to developing the Islamic financial sector by issuing a number of regulatory and supervisory legislations to activate its role in national economies.



The findings showed that financial inclusion responds to changes in the Islamic Financial Development Index, domestic credit to the private sector, and per capita GDP in the Arab countries under study. In light of these results, a number of recommendations can be drawn, including the need to strengthen the role of Islamic finance within the financial sector to improve levels of financial inclusion. In this context, Islamic banking institutions can play a greater role in promoting financial inclusion in the Arab countries, by providing Sharia-compliant products at reasonable costs that meet the needs of individuals, in addition to matching the requirements and situation of each country and providing sufficient information to customers. The study also recommends supporting the supervisory authorities of the financial sector to intensify and expand the scope of Sharia-compliant banking services, which helps to enhance financial inclusion in the Arab countries.
 


claud39
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