Southeast Asia
Economic crises can be avoided by using the Islamic financing paradigm
Financial system based on shariah, or Islamic law, is a better strategy than traditional finance in light of the recent difficulties in the global economy. The area of the global financial system with the quickest growth has been Islamic finance. Because of the high level of innovation that has kept up with the changing demands for financial products and services as economics continues to change and expand, this growth has also been in quality and depth. The increased availability of profit-loss sharing savings, investing, and other structured finance-based instruments is significant.
Economic crises can be avoided by using the Islamic financing paradigm
Financial system based on shariah, or Islamic law, is a better strategy than traditional finance in light of the recent difficulties in the global economy. The area of the global financial system with the quickest growth has been Islamic finance. Because of the high level of innovation that has kept up with the changing demands for financial products and services as economics continues to change and expand, this growth has also been in quality and depth. The increased availability of profit-loss sharing savings, investing, and other structured finance-based instruments is significant.
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Thanks to the pandemic, the uncertainty of the world economy has been especially devastating for those living on the poverty threshold and struggling to make ends meet. Many in this demographic lost much-needed jobs as the economy shrunk, while others hustled on the side, for example, as food sellers, to continue to put bread on the table.
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Standard Chartered Hong Kong wins big at ABF Retail Banking Awards 2024
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The bank’s efforts and achievements have become a testament to its commitment to its colleagues and the communities it serves in.
Co-Written / Partner
Standard Chartered Hong Kong wins big at ABF Retail Banking Awards 2024
The bank’s efforts and achievements have become a testament to its commitment to its colleagues and the communities it serves in.
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Most Read
1. GXS Bank launches term deposit product Boost Pocket 2. China’s big four banks face $100b shortfall in loss-absorbing capital 3. Labour force upskilling needed as SG nears 'super-aged' status 4. Cambodian banks breach covenants as bad loans surge 5. Tottenham Hotspur taps Ant International as global payment solutions, digital wallet partnerEvents
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