Business, Management and Accounting
3 years ago

Islamic finance boosts Indonesia's economy, promoting equitable growth and financial stability.

Journal of Sharia Economics
Islamic Finance and Economic Development: The Impact of the Islamic Finance Sector on Indonesia’s Economic Development
Zainur Zainur

Paper Summary

Islamic finance in Indonesia has a positive impact on economic development. The financial system in Islam promotes growth by applying equitable models and contracts that share risks. Islamic banking and non-bank financial institutions like zakat and waqf play a significant role in boosting the economy.

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