Islamic finance as a driver for enhancing economic sustainability and innovation in the GCC

What is it about?

This study explores the role of Islamic finance in promoting sustainable economic growth in the Gulf Cooperation Council (GCC) against the backdrop of global challenges like the COVID-19 pandemic and the Russia-Ukraine conflict. It focuses on how Islamic finance can help diversify the GCC's oil-dependent economy and align with Sustainable Development Goals. The findings suggest that Islamic finance offers ethical and resilient financial strategies beneficial for sustainable development, social welfare, and reducing economic disparities in the GCC. This research provides new insights into the potential of Islamic finance in supporting long-term economic resilience in emerging economies.

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