IMF paper analyses Islamic banking impact on economic growth
Islamic banking has features ‘highly appropriate for developing countries’, say the researchers
Countries where Islamic banking is present "experience faster economic growth than others", according to a working paper published by the IMF on April 28.
In Is Islamic Banking Good for Growth?, Patrick Imam and Kangni Kpodar investigate the relationship between Islamic banking development and economic growth in a sample of low-income and middle-income countries between 1990 and 2010.
Islamic banking has "unique features that are highly appropriate for developing countries", note the researchers
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