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The global perspective of Islamic finance and the potential for China to tap into the Islamic finance market

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dc.contributor.authorAbdelkader Laallam
dc.contributor.authorFares Djafri
dc.contributor.authorMohamad Akram Laldin
dc.date.accessioned2021-11-30T01:28:21Z
dc.date.available2021-11-30T01:28:21Z
dc.date.issued2021
dc.description.abstractIslamic finance is considered one of the fastest-growing segments of the global financial industry. Over the last four decades, Islamic finance has expanded globally to western and other non-Muslim countries. This paper aims to explore the potential for China to tap into the Islamic finance market and the challenges that may face the implementation of Islamic finance there. This study adopts a qualitative method of inquiry and utilizes the inductive method and content analysis to build comprehensive knowledge that would assist in exploring the significance and potential benefits that China may gain from the adoption of Islamic finance. The study reveals that China has a huge opportunity to capitalize on Islamic finance for economic development, particularly in the implementation of China�s Belt and Road Initiative (BRI). The paper also highlights the critical success factors for introducing Islamic finance in China, most importantly, political will. Genuine support from the government is needed for the effective introduction of Islamic finance in the country. This support should be subsequently followed by the development of the legal framework, an amendment of the laws, broad publicity to raise public awareness, and effective collaboration with international organizations.en_US
dc.identifier.citationDjafri, Fares and Laldin, Mohamad Akram and Laallam, Abdelkader. (2021). The global perspective of Islamic finance and the potential for China to tap into the Islamic finance market. Journal of Islamic Business and Management, 11 (1), pp. 14-28.en_US
dc.identifier.doihttps://doi.org/10.26501/jibm/2021.1101-002
dc.identifier.issn2521-2249 (eISSN)
dc.identifier.urihttps://ikr.inceif.org/handle/INCEIF/3475
dc.languageEnglish
dc.language.isoengen_US
dc.publisherRiphah International Universityen_US
dc.rights2021. The authors
dc.sourceSEDONA
dc.subjectIslamic financeen_US
dc.subjectDevelopmenten_US
dc.subjectChallengesen_US
dc.subjectBRIen_US
dc.subjectChinaen_US
dc.titleThe global perspective of Islamic finance and the potential for China to tap into the Islamic finance marketen_US
dc.typeJournal Articleen_US
dlc.maintopicIslamic financeen_US
dspace.entity.typePublication
ikr.doctypeScholarly Works
ikr.topic.maintopicIslamic financeen_US
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