Prospects of Islamic Banking and Finance in Non-Muslim Majority Countries

View Sample PDF

Author(s): Sara Ahmad (Cambridge IFA, UK)
Copyright: 2026
Pages: 46
Source title: Social Impact, Ethics, and Practice in Abrahamic Finance
Source Author(s)/Editor(s): Camille Silla Paldi (Colgate University, USA), Phillip Lieberman (United States Naval Academy, USA & Vanderbilt University, USA), Mohammad Kabir Hassan (University of New Orleans, USA)and Isaac Lifshitz (Shalem College, Israel)
DOI: 10.4018/979-8-3373-6706-4.ch008

Keywords: Accounting and Finance / Business Science Reference / Religious Studies / Social Sciences & Humanities

Purchase

View Prospects of Islamic Banking and Finance in Non-Muslim Majority Countries on the publisher's website for pricing and purchasing information.

Abstract

The present-day world is facing geo-political crises, climate change, and deepening disparity between the rich and poor. The average per capita GDP1 of developed countries is more than triple of average per capita GDP of developing countries. Moreover, statistics indicate 80 percent of wealth has accumulated in the hands of 10 percent of the wealthiest individuals, while the bottom 50 percent own only 2 percent. The resulting differences in living standards have been at the base of discontent and conflicts. On the other hand, the global financial AUM is estimated to be 128 trillion. Exploring further reveals that while O.82 billion control nearly 100 trillion of AUM, the bottom half of people consisting pf 4.1 billion people subsist on a mere 2.56 trillions of AUM. This financial disparity speaks of a financial system that prefers to facilitate the financially stronger entities and individuals to grow even more stronger by taking away from the financially weaker entities and individuals.

The IRMA Community

Research IRM

Prospects of Islamic Banking and Finance in Non-Muslim Majority Countries

Purchase

Abstract

Related Content

IRMA Sponsors