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Research Article 


Islamic Modes of Finance and Economic Growth: A Mediating Role of Financial Stability in Case of Islamic Countries

Ghulam Hussain, Mariyam Hafeez, Hafsah Batool.

Abstract
The study aims to find out the nexus between the efficiency of Islamic banks and economic development. It attempts to address whether Islamic banks are a perquisite for economic growth or a consequence of their financial stability. The research follows a quantitative approach, using cross-sectional data background analysis. Data is collected from six banks in six Islamiccountriesover the 2016-2020 period. Pearson regression is used to calculate the causal relationship between GDP and success in Islamic finance modes, Z ranking. Regression tests show a significant relationship between finance modes and GDP R=0.89, the negative causal relationship between Z score and GDP, negative relationship between Ijara, Murabah modes and GDP. The test also shows significant negative relationships between finance modes except Mudaraba and Z score R=0.93. There's an insignificant partnership between Zscore and Muraba

Key words: Nexus, Regression, GDP, Z score


 
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How to Cite this Article
Pubmed Style

Ghulam Hussain, Mariyam Hafeez, Hafsah Batool. Islamic Modes of Finance and Economic Growth: A Mediating Role of Financial Stability in Case of Islamic Countries. EEO. 2021; 20(5): 5298-5307. doi:10.17051/ilkonline.2021.05.593


Web Style

Ghulam Hussain, Mariyam Hafeez, Hafsah Batool. Islamic Modes of Finance and Economic Growth: A Mediating Role of Financial Stability in Case of Islamic Countries. http://ilkogretim-online.org//?mno=73761 [Access: April 16, 2021]. doi:10.17051/ilkonline.2021.05.593


AMA (American Medical Association) Style

Ghulam Hussain, Mariyam Hafeez, Hafsah Batool. Islamic Modes of Finance and Economic Growth: A Mediating Role of Financial Stability in Case of Islamic Countries. EEO. 2021; 20(5): 5298-5307. doi:10.17051/ilkonline.2021.05.593



Vancouver/ICMJE Style

Ghulam Hussain, Mariyam Hafeez, Hafsah Batool. Islamic Modes of Finance and Economic Growth: A Mediating Role of Financial Stability in Case of Islamic Countries. EEO. (2021), [cited April 16, 2021]; 20(5): 5298-5307. doi:10.17051/ilkonline.2021.05.593



Harvard Style

Ghulam Hussain, Mariyam Hafeez, Hafsah Batool (2021) Islamic Modes of Finance and Economic Growth: A Mediating Role of Financial Stability in Case of Islamic Countries. EEO, 20 (5), 5298-5307. doi:10.17051/ilkonline.2021.05.593



Turabian Style

Ghulam Hussain, Mariyam Hafeez, Hafsah Batool. 2021. Islamic Modes of Finance and Economic Growth: A Mediating Role of Financial Stability in Case of Islamic Countries. Elementary Education Online, 20 (5), 5298-5307. doi:10.17051/ilkonline.2021.05.593



Chicago Style

Ghulam Hussain, Mariyam Hafeez, Hafsah Batool. "Islamic Modes of Finance and Economic Growth: A Mediating Role of Financial Stability in Case of Islamic Countries." Elementary Education Online 20 (2021), 5298-5307. doi:10.17051/ilkonline.2021.05.593



MLA (The Modern Language Association) Style

Ghulam Hussain, Mariyam Hafeez, Hafsah Batool. "Islamic Modes of Finance and Economic Growth: A Mediating Role of Financial Stability in Case of Islamic Countries." Elementary Education Online 20.5 (2021), 5298-5307. Print. doi:10.17051/ilkonline.2021.05.593



APA (American Psychological Association) Style

Ghulam Hussain, Mariyam Hafeez, Hafsah Batool (2021) Islamic Modes of Finance and Economic Growth: A Mediating Role of Financial Stability in Case of Islamic Countries. Elementary Education Online, 20 (5), 5298-5307. doi:10.17051/ilkonline.2021.05.593








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