Integration of Islamic Financial Growth in Evolving Islamic Nations: Comparative Analysis of Non-Islamic & Islamic Banking
Keywords:
Private Credits, Islamic Banking, Conventional Banking, GDP Per CapitaAbstract
The goal of this study is to contrast how Islamic and Non-Islamic financial development affects economic growth. The authors gathered data on the Islamic banking system and the conventional banking system from 2007 to 2014 in Pakistan, Turkey, and Malaysia, three comparable nations with a developing Islamic financial development industry. This study report provides an unbiased assessment of the economic progress and financial development's impact of Asian Islamic nations. The total assets, private credit, and influence on the economic growth of conventional and Islamic banking have all been rigorously examined in the study. Additionally, the random-effects GLS regression technique is used, and the findings show that financial development indicators significantly aide in the expansion of the economy. This study will emphasize the significant contribution of Islamic private-sector loans.
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