Aviral Kumar Tiwari, doctor of economics, professor at South Ural State University , together with colleagues from Tunisia, Oman and the United States, analyzed the relationship between the development of Islamic banking and economic growth indicators in Islamic countries of the Middle East and North Africa, as well as other countries. The researchers examined the impact of the development of Islamic banking on economic growth in the Middle East, North Africa, and the Persian Gulf. Domestic financing provided by the Islamic banking sector in the Middle East and North Africa has been found to contribute to economic growth. The conclusions will help to form the basic principles of a new economic policy for the countries of the Middle East and North Africa. Impact of Islamic banking development and major macroeconomic variables on economic growth for Islamic countries: Evidence from panel smooth transition models, Economic Systems (2019).

Source: The North Africa Journal August 18, 2020 13:07 UTC