Islamic Banking Development and Financial Inclusion in Oic Member Countries: The Moderating Role of Institutions

Kamalu, Kabiru; Ibrahim, Wan Hakimah Binti Wan

doi:10.21098/jimf.v7i3.1364

Cited by 6 publications

(3 citation statements)

References 26 publications

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“…Among the different methods used, the SIC method yields the least favorable outcome, indicating a preference for a later lag selection in our analysis. The SIC method is employed in this study for lag selection (Fromentin et al, 2022;Umar et al, 2015;Kamalu et al, 2019). (Ali, 2023;Ahamd et al, 2015b;Sharma et al, 2023;Ado et al, 2020;Ekpe et al, 2020;Ekwueme et al, 2020;Mustapha et al, 2020a).…”

Section: Resultsmentioning

confidence: 99%

The Effect of Macroeconomic Policy Uncertainty on Environmental Quality in Jordan: Evidence from The Novel Dynamic Simulations Approach

Alkhawaldeh,

Alhawamdeh,

Almarshad

et al. 2023

jjes

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Objectives: Over the past few years, Jordan's economy has grown rapidly, placing it prominently among the world's emerging markets and developing economies rapidly. The country is known for its diverse natural resources. However, the effects of macroeconomic uncertainty, energy intensity, and trade openness on the environment have received less attention than the environmental implications of energy generation. This research fills a significant gap in the literature by investigating the impact of macroeconomic policy uncertainty on Jordan's environmental Kuznets curve from 1970 to 2021. Methods: This study adopted a methodological framework to simulate dynamic distributed self-regression. Results: The results of the study revealed that uncertainty about the future direction of macroeconomic policy accelerates the short and long-term rate of environmental degradation; economic growth accelerates environmental degradation while the square of economic growth slows it, confirming the presence of the environmental Kuznets curve hypothesis; energy density accelerates the rate of environmental quality degradation. Conclusions: Jordan should adopt advanced, environmentally friendly, clean technologies that transition from fossil fuels to low-carbon renewable energy sources. The government should establish strong international partnerships for technology exchange and environmental preservation. Additionally, increasing Jordan's economic complexity is crucial for achieving its environmental development goals.

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Section: Resultsmentioning

confidence: 99%

The Effect of Macroeconomic Policy Uncertainty on Environmental Quality in Jordan: Evidence from The Novel Dynamic Simulations Approach

Alkhawaldeh,

Alhawamdeh,

Almarshad

et al. 2023

jjes

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“…Remittance inflows greatly improve recipients' lives by allowing households to balance their fluctuating income consumption restrictions and encourage the growth of physical and human capital. It has been argued that migrant families are, in many cases, financially better off than households that have no members working abroad (Imran et al, 2018;Kamalu et al, 2019). In the recent era, the developing countries' economy is heavily relies on remittance income but the question is that whether the increasing contribution of such remitted money is being able to increase the human capital or not.…”

Section: Introductionmentioning

confidence: 99%

Review on Remittance and its Effect on Human Development in Developing Countries

Khanal

2024

Resunga Journal रेसुङ्गा जर्नल

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As a percentage of its GDP, Nepal is one of the nations that receive the most remittances worldwide. Remittance income in the context of developing countries like Nepal plays a significant role in determining the structure and dynamics of the entire economy. It also has an impact on important aspects of human development, including life expectancy at birth, the average number of years spent in school, and gross national income per person. The human development should be promoted in an economy because human beings are the end in each other without the need for any justification. Nonetheless, the link between remittances and human development in underdeveloped nations has received little research. Remittances also positively affect poverty, inequality, human capital, and life expectancy (Adams, 2011), especially in developing countries. This article reviewed the empirical evidence of ten different research article published in different journals after 2018 onwards to carry out the conclusion regarding the remittance and impact on human development.

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“…On the other hand, in general, financial inclusion in OIC countries is also lower when compared to the growing trend of financial inclusion in developing and developed countries. As revealed by (Kamalu & Wan Ibrahim, 2021) that based on 2017 Global Financial Index data, the financial inclusion of the population aged over 15 years in OIC member countries is only around 45.3% which means that the remaining 54.7% are still excluded, while the average financial inclusion rate for people over 15 in the world is 69%. Although the level of financial inclusion in the OIC countries is still low, there is a glimmer of hope in terms of the development of Islamic banking progress in OIC member countries where from 2013 to 2019 based on the Statistical, Economic and Social Research and Training Center for Islamic Data countries (SESCRIC).…”

Section: Introductionmentioning

confidence: 99%

Islamic Banking Financial Inclusion and Tax Revenue in OIC Countries: To What Extent do They Correlate?

Nur

Febriyanti

Rusgianto

et al. 2022

Shirkah

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Tax revenue of Organization of Islamic Cooperation (henceforth OIC) countries has not reached the global average, and so has the financial inclusion. Notwithstanding this fact, few researchers have addressed the effect of financial inclusion on tax revenue in the context of Islamic finance while it is undeniably having significant connection to the real sector. Drawing on this crucial issue, the present study calls into the possible effect of Islamic banking financial inclusion on tax revenue in eleven countries of OIC membership consisting of Indonesia, Jordan, Kazakhstan, Kuwait, Malaysia, Nigeria, Oman, Pakistan, Saudi Arabia, Turkey, and the United Arab Emirates in the period of 2013 to 2019. The data were analyzed under the procedure of panel data regression using fixed effect model. The result depicted that Islamic banking financial inclusion, in terms of financial access and financial usage, had no significant effect on tax revenue of the OIC countries. This result is reasonable, since Islamic banking financial inclusion still requires massive promotion particularly by the OIC countries included in this study. Hence, this study leaves an implication for OIC countries to foster Islamic banking financial inclusion as a crucial effort to increase the tax revenue, in which Islamic banks play a promising role for sharia-compliance-based financial transactions in the recent years.

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Islamic Banking Development and Financial Inclusion in Oic Member Countries: The Moderating Role of Institutions

Cited by 6 publications

References 26 publications

The Effect of Macroeconomic Policy Uncertainty on Environmental Quality in Jordan: Evidence from The Novel Dynamic Simulations Approach

The Effect of Macroeconomic Policy Uncertainty on Environmental Quality in Jordan: Evidence from The Novel Dynamic Simulations Approach

Review on Remittance and its Effect on Human Development in Developing Countries

Islamic Banking Financial Inclusion and Tax Revenue in OIC Countries: To What Extent do They Correlate?

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