IslamicFinance.de

A recent study conducted by the International Monetary Fund (IMF) has explored the possibility of using Islamic finance for increased financial inclusion. Their recently published paper entitled ‘Can Islamic banking increase financial inclusion?’ concluded that there was weak and tentative evidence of Islamic banking’s positive impact on some types of inclusion. The IMF paper sais improving financial infrastructure, introducing more competition in the banking system, improving the quality of credit information, and enhancing the efficiency of the legal system would be instrumental in improving financial inclusion across the continent.