TOWARDS GREEN ECONOMY TRANSFORMATION THROUGH ISLAMIC GREEN FINANCING: MANAGING RISK AND FOSTERING SUSTAINABLE GROWTH FOR THE REAL AND FINANCIAL SECTORS

Ferry Syarifuddin ()
Additional contact information
Ferry Syarifuddin: Bank Indonesia

No WP/05/2022, Working Papers from Bank Indonesia

Abstract: This study investigates the preferences of various Islamic Financing Instruments to promote green economy ransformation adopting ANPBOCR (Benefit, Opportunity, Cost, Risk) approach, with two groups of experts as the respondents, namely academicians and practitioners. The first finding shows, that ‘Benefit’ aspect is the most preferred, urgency to conduct green economy transformation. Among criteria in the benefit aspect, natural resource damage prevention and reduction are the primary issues which is in line with maqasid al-Syari’ah (objectives of Islamic law). Using standard formula, the second finding shows that Islamic Asset Management is the most preferred Islamic financial instrument to perform green economy transition. Meanwhile, the third finding shows that in the short-term, Islamic Asset Management is more preferred financial instrument. Whereas, Islamic corporate and investment banking is the most preferred and crucial for long-term when transforming economy to green.

Keywords: Green Economy Transformation; Islamic Green Financing; ANP; BOCR (search for similar items in EconPapers)
JEL-codes: G20 Q56 Q58 (search for similar items in EconPapers)
Pages: 59 pages
Date: 2022
New Economics Papers: this item is included in nep-ene, nep-env, nep-isf and nep-sea
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://publication-bi.org/repec/idn/wpaper/WP052022.pdf First version, 2022 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:idn:wpaper:wp052022

Access Statistics for this paper

More papers in Working Papers from Bank Indonesia Contact information at EDIRC.
Bibliographic data for series maintained by Lutzardo Tobing ( this e-mail address is bad, please contact ) and Jimmy Kathon ().