IDEAS home Printed from https://ideas.repec.org/h/pal/pcichp/978-3-031-13302-2_8.html
   My bibliography  Save this book chapter

Mobilizing Funds for Industrialization and Development Through Islamic Value System, Capital Markets, and Social Finance

In: Islamic Finance, FinTech, and the Road to Sustainability

Author

Listed:
  • Salman Ahmed Shaikh

    (Islamic Economics Project)

Abstract

Muslim majority countries, in particular, face a higher incidence of poverty than the rest of the countries in the world. Low per capita incomes result in lower savings and investments. As a result, capital formation in physical infrastructure and human capital development is significantly hampered and compromised. Without industrialization, most countries fail to generate enough income and exports. Governments remain poorly funded through economic activities and largely depend on assistance and grants. Weak tax base results in more resources going to non-development expenditure as compared to development expenditure. Thus, this vicious cycle continues. This chapter discusses the solutions offered by Islamic finance through its underpinning value system and worldview and through its set of commercial and social finance institutions to intervene in development assistance through and beyond markets.

Suggested Citation

  • Salman Ahmed Shaikh, 2023. "Mobilizing Funds for Industrialization and Development Through Islamic Value System, Capital Markets, and Social Finance," Palgrave CIBFR Studies in Islamic Finance, in: Zul Hakim Jumat & Saqib Hafiz Khateeb & Syed Nazim Ali (ed.), Islamic Finance, FinTech, and the Road to Sustainability, pages 159-180, Palgrave Macmillan.
    • Handle: RePEc:pal:pcichp:978-3-031-13302-2_8
    DOI: 10.1007/978-3-031-13302-2_8
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:pcichp:978-3-031-13302-2_8. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.