Global Findex database reports that 75% or about one billion adults among self-identified Muslims do not have an account in a formal financial institutions. The first part of this chapter suggests that overall access to Islamic financial products is positively correlated with levels of financial inclusion in
This book explores the relationships between financial inclusion, poverty and inclusive development from Islamic perspectives. Financial inclusion has become an important global agenda and priority for policymakers and regulators in many
In this chapter, Mohseni-Cheraghlou argues that the implementation and growth of genuine Islamic economic and financial (IEF) systems in countries with significant
This chapter scrutinizes the fragmentation of the OIC aid system. It is argued that this fragmentation is a result of the asymmetrical intergovernmental relationship between a small number of aid donors (notably the hydrocarbon-rich Gulf States) and a large and increasing pool of aid recipients. The chapter illustrates that this process is empowered by the asymmetrical setting of the OIC (there are very few donors with whom to compete), donors have “bilateralized” the multilateral by supporting their own “aid recipients”. This has progressively fragmented the OIC aid system.
There are 1.6 billion Muslims in the world, represented on the world stage by 57 states, as well as a host of international organizations and associations. This book critically examines the engagement of these states in systems of global governance and with a variety of policy regimes, including climate change, energy, migration, humanitarian aid, international financial institutions, research and education.