Sukuk Market Boosts Economic Growth in MENA and Southeast Asia.
The study looked at how the development of Sukuk (Islamic bonds) markets affects economic growth in certain countries in the Middle East and Southeast Asia from 1995 to 2015. They used a method called generalized method of moments (GMM) to analyze the data. The results showed that the growth of the Sukuk market has a positive impact on economic growth, even when considering other factors. They also found that the financial and service sectors have a bigger influence on economic growth compared to other sectors, and there are differences in the impact of Sukuk sectors between the two regions.