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

Abubakar, Jamila and Bashayer AlQashouti, Bashayer AlQashouti and Aysan, Ahmet Faruk and Unal, Ibrahim Musa (2022): Is Islamic Finance A Panacea for Global Economic Disruptions After COVID-19.

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.

• Item Type: MPRA Paper
• Language: English
• Keywords: Resilience, Islamic Finance and Economy, COVID-19, Economic Recovery
• Subjects: G - Financial Economics > G0 - General > G00 - General; G - Financial Economics > G0 - General > G01 - Financial Crises; G - Financial Economics > G2 - Financial Institutions and Services > G20 - General; G - Financial Economics > G2 - Financial Institutions and Services > G21 - Banks ; Depository Institutions ; Micro Finance Institutions ; Mortgages

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