Is Islamic Finance A Panacea for Global Economic Disruptions After COVID-19

Jamila Abubakar, Bashayer AlQashouti Bashayer AlQashouti, Ahmet Faruk Aysan and Ibrahim Musa Unal

MPRA Paper from University Library of Munich, Germany

Abstract: The coronavirus pandemic has led to unprecedented financial and economic disruptions worldwide. Academic interest in the topic of COVID-19 outbreak has led to a rapid influx of publications on the subject matter from both Islamic and conventional finance and economy perspectives. This paper analyses the contributions of Islamic finance and economy (IFE) literature to the global discussion through a bibliometric analysis and literature review of publications on IFE and COVID-19 using the dimensions database. The paper investigates the role IFE research has played in providing solutions capable of addressing global challenges in the wake of the pandemic. The paper reveals that IFE has made efforts during the pandemic to mitigate the effect of the crisis and strengthen economies. But unlike after the 2008 global financial crisis, IFE is not focusing on global solutions and is more confined to localized country-specific solutions for recovery and resilience. The paper recommends repositioning IFE's academic focus towards tackling issues and providing solutions at a global scale.

Keywords: Resilience; Islamic Finance and Economy; COVID-19; Economic Recovery (search for similar items in EconPapers)
JEL-codes: G00 G01 G20 G21 (search for similar items in EconPapers)
Date: 2022-09-05
New Economics Papers: this item is included in nep-hme and nep-isf
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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