Islamic Economics & Finance
Islamic finance has attracted much discussion over recent years, particularly following on from global financial challenges. In the context of development, the Post 2015 Agenda in particular focuses on the need to development innovative means of financing development in order to fulfill the ambitious agenda that has been set out.
The huge demand for Islamic finance is evident in the tremendous growth of the industry to $1.5trillion in 2012. This comes against the a backdrop of years of exclusion of certain communities who are unable to access adequate financing opportunities due to the lack of lending services that are in accordance with their faith principles.
Evidence has shown that microfinance programmes can be financially and operationally sustainable and in most cases are reported to have had a significant positive impact on those living in poverty via social and economic empowerment, with women being the majority of borrowers worldwide.
The Humanitarian Academy for Development (HAD) is therefore keenly interested in research that explores:
- Faith perspectives on economics and financing challenges
- Faith perspectives on economics and financing opportunities
- Innovative financing for development