 The Impact of Islamic Banks and Takaful Companies on Economic Growth: A Case of PakistanJournal of Finance and Economics Research, 2017, vol. 2, issue 2, 130-143 Abstract: The purpose of this study is to examine the impact of Islamic Banks and Takaful on economic growth of Pakistan. Using panel data from 2009 to 2014 of five Islamic Banks and five Takaful Companies, and taking Gross Domestic Product (GDP) as dependent variable, Total Deposits (TD) of Islamic Banks and Total contribution (TC) of Takaful companies as independent variables, analysis is done to find the impact of Islamic Banks and Takaful companies on the economic growth of the country. The study employs Fixed Effect Model for the econometric analysis. The study concluded that there is a significant role of Total Deposits of Islamic Banks and Total Contributions of the Takaful Companies in the growth of the economy. It is thus, recommended that Economic policymakers should take into account this valuable fact and should take serious measures for facilitating Islamic Financial Sector. This research can be used as a platform for the economic policymakers to evaluate and comprehend the importance of Islamic Financial System in developing countries like Pakistan. Keywords: Islamic banks; Takaful companies; economic growth; panel data; regression analysis. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:gei:jnlfer:v:2:y:2017:i:2:p:130-143 Access Statistics for this article Journal of Finance and Economics Research is currently edited by Imtiaz ARIF and Syed Ali Raza More articles in Journal of Finance and Economics Research from Geist Science, Iqra University, Faculty of Business Administration |
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