Islamic social impact financing & the Syrian refugee crisis in Turkey
Over the last few decades, refugee issues have been at the forefront of social issues globally, with Turkey leading the countries affected from migrant movements in recent years (UNHCR, 2020). Funding refugee camps and their fundamental needs such as education, healthcare, accommodation, employment and social needs are heavy burdens for host countries. The Turkish government spent more than $40 billion for Syrian refugees alone, since the conflict in Syria began, which is around 5% of the Turkish GDP (TRT News, 2019). For several reasons, including the obvious economic, financial and political impact, the refugee crisis in Turkey has become a significant challenge exacerbated by the recent reneging of the European decision to absorb a portion of refugees within their own borders. The further refusal of financial support from a previously agreed European commitment has caused significant pressure on the Turkish economy that has already been unsettled through political (infamous attempted coup) and economic shocks. The Turkish government is therefore in dire need of a financial solution that ensures the sanctity of its sovereignty, complies with its approach of prioritizing Islamic finance development and reduces internal economic impact derived from the demands of supporting millions of refugees fleeing from war.
Social issues , Syrian refugees , Turkey
Unal, I. M. (2020). Islamic social impact financing & the Syrian refugee crisis in Turkey (Master dissertation). INCEIF, Kuala Lumpur. Retrieved from https://ikr.inceif.org/handle/INCEIF/3485