THE ROLE OF ISLAMIC FINANCE IN STABILIZING GLOBAL ECONOMIC GROWTH

Authors

  • Khasan Sabirov Nordic international university

Keywords:

Islamic finance, economy, economic growth, globalization

Abstract

This research paper explores the pivotal role of Islamic finance in stabilizing global economic growth, particularly in the context of increasing financial volatility and economic disparities. Islamic finance, characterized by its adherence to Sharia law, promotes risk-sharing, ethical investments, and the prohibition of interest (riba), which fosters a more equitable distribution of wealth. The paper examines how Islamic financial instruments, such as Sukuk (Islamic bonds) and Takaful (Islamic insurance), contribute to infrastructure development and social welfare projects, thereby enhancing economic resilience. Furthermore, it analyzes the growing integration of Islamic finance into the global financial system and its potential to provide alternative funding sources during economic downturns.

References

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Published

2025-01-07

Issue

Vol. 1 No. 0001 (2024): SCIENTIFIC MATERIALS OF NORDIC

Section

Research articles

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Copyright (c) 2025 Khasan Sabirov

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