The Future of Islamic Finance after the Corona Crisis

There is much literature on the consequences of the corona crisis for the financial system, but usually without a distinction between conventional and Islamic finance. This research focusses on behavioral changes and market developments in the financial and real economy that will impact Islamic fina...

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Autor principal:	Volker Nienhaus
Formato:	article
Lenguaje:	AR EN
Publicado:	Bait Al-Mashura Consultations 2020
Materias:	islamic finance corona crisis Banking HG1501-3550 Islamic law KBP1-4860
Acceso en línea:	https://doaj.org/article/7d762a93d19b41dd81ff06c976a237e1
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spelling	oai:doaj.org-article:7d762a93d19b41dd81ff06c976a237e12021-12-02T13:02:36ZThe Future of Islamic Finance after the Corona Crisis10.33001/M0108202013732410-68362409-0867https://doaj.org/article/7d762a93d19b41dd81ff06c976a237e12020-10-01T00:00:00Zhttps://www.mashurajournal.com/en/the-future-of-islamic-finance-after-the-corona-crisis/https://doaj.org/toc/2410-6836https://doaj.org/toc/2409-0867There is much literature on the consequences of the corona crisis for the financial system, but usually without a distinction between conventional and Islamic finance. This research focusses on behavioral changes and market developments in the financial and real economy that will impact Islamic finance differently than conventional finance due to its conceptual peculiarities and prevailing practices. Particular attention is given to the real estate and construction sector, the universe of Sharīʿah compliant stocks, and the consumer finance of Islamic retail banks. Through these channels, “the world” will have an impact on the future of Islamic finance. But the corona crisis has also reinforced calls for more responsible finance, and promotors of Islamic finance emphasize the ideal of risk-sharing as well as the distinct instruments of Islamic social finance for poverty alleviation and social cohesion. Particular attention is given to innovations in equity-like financing, green and socially responsible ṣukūk, digital approaches for Islamic microfinance, and the broader usage for Islamic social finance instruments (zakāt, qarḍ Hasan, [cash] waqf, sadaqat). Through these channels, a revised future Islamic finance may have an impact on the world.Volker NienhausBait Al-Mashura Consultationsarticleislamic financecorona crisisBankingHG1501-3550Islamic lawKBP1-4860ARENمجلة بيت المشورة, Iss 14, Pp 196-211 (2020)
institution	DOAJ
collection	DOAJ
language	AR EN
topic	islamic finance corona crisis Banking HG1501-3550 Islamic law KBP1-4860
spellingShingle	islamic finance corona crisis Banking HG1501-3550 Islamic law KBP1-4860 Volker Nienhaus The Future of Islamic Finance after the Corona Crisis
description	There is much literature on the consequences of the corona crisis for the financial system, but usually without a distinction between conventional and Islamic finance. This research focusses on behavioral changes and market developments in the financial and real economy that will impact Islamic finance differently than conventional finance due to its conceptual peculiarities and prevailing practices. Particular attention is given to the real estate and construction sector, the universe of Sharīʿah compliant stocks, and the consumer finance of Islamic retail banks. Through these channels, “the world” will have an impact on the future of Islamic finance. But the corona crisis has also reinforced calls for more responsible finance, and promotors of Islamic finance emphasize the ideal of risk-sharing as well as the distinct instruments of Islamic social finance for poverty alleviation and social cohesion. Particular attention is given to innovations in equity-like financing, green and socially responsible ṣukūk, digital approaches for Islamic microfinance, and the broader usage for Islamic social finance instruments (zakāt, qarḍ Hasan, [cash] waqf, sadaqat). Through these channels, a revised future Islamic finance may have an impact on the world.
format	article
author	Volker Nienhaus
author_facet	Volker Nienhaus
author_sort	Volker Nienhaus
title	The Future of Islamic Finance after the Corona Crisis
title_short	The Future of Islamic Finance after the Corona Crisis
title_full	The Future of Islamic Finance after the Corona Crisis
title_fullStr	The Future of Islamic Finance after the Corona Crisis
title_full_unstemmed	The Future of Islamic Finance after the Corona Crisis
title_sort	future of islamic finance after the corona crisis
publisher	Bait Al-Mashura Consultations
publishDate	2020
url	https://doaj.org/article/7d762a93d19b41dd81ff06c976a237e1
work_keys_str_mv	AT volkernienhaus thefutureofislamicfinanceafterthecoronacrisis AT volkernienhaus futureofislamicfinanceafterthecoronacrisis
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The Future of Islamic Finance after the Corona Crisis

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