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Islamic Approach Toward Energy Sector Infrastructure Development

In: Sustainable Development and Infrastructure

Author

Listed:
  • Amadou Thierno Diallo

    (Islamic Development Bank)

  • Ahmet Suayb Gundogdu

    (Islamic Development Bank)

Abstract

The case of unlocking energy access finance through crowdfunding This chapter displays an emerging Islamic approach for the energy sector in pursuit of addressing affordable and clean energy access gap with renewable energy alternatives. The traditional energy sector reform agenda could not deliver the desired outcomes to have global electricity access nor a substantially more efficient sector. It is also not aligned to new technological trends. The technological trend favors renewable energy over gas flaring or other fossil fuel alternatives for provision of energy, cooling, and heating. With some fine-tuning with the emerging Islamic approach showcased, there is a strong potential for the provision of clean and affordable energy for all with greasing of Islamic finance. The technological trend and environmental concerns favor electricity over other alternatives in energy sector.

Suggested Citation

  • Amadou Thierno Diallo & Ahmet Suayb Gundogdu, 2021. "Islamic Approach Toward Energy Sector Infrastructure Development," Palgrave Studies in Islamic Banking, Finance and Economics, in: Sustainable Development and Infrastructure, chapter 7, pages 111-128, Palgrave Macmillan.
    • Handle: RePEc:pal:psibcp:978-3-030-67094-8_7
    DOI: 10.1007/978-3-030-67094-8_7
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