Predicting the role of islamic banking on sustainable economic development: An analysis for Turkey with ARIMA Model

This chapter aims to predict the future of Islamic banking in Turkey. Three different Islamic banks operating in Turkey were taken to the scope of review. Within this framework, six different variables that are important for the banking sector have been identified. The data of these variables in the 2010-2018 period were analyzed by ARIMA method, and six different models were established. As a result, it is predicted that Islamic banking will grow in the future, and its profitability will increase. However, the ratio of non-performing loans is expected to increase, and capital is expected to decrease. Therefore, Islamic banks should be more cautious in this growth process. In this context, it is important to conduct an effective credibility analysis of customers to be loaned. This situation has a contributing effect on the sustainable economic development of the country

Developing a conceptual framework for Zakat collection and distribution Impact on social welfare through implications of SDGs

Although Islamic social finance including zakat has witnessed an upsurge in development in quantum, which reached US$2 trillion in 2015 and is projected to exceed US$3 trillion by 2020, due to a lack of transparency, trust, and timely disclosure to public has resulted in inefficient of zakat collection and ineffective disbursement for the wellbeing of recipients. The reason for this could be neglecting adoption of financial technology specifically blockchain and artificial intelligence system in zakat management to enhance proper collection and efficient distributions timely and effectively reporting to public. Therefore, this research proposes an ‘Islamic Social Welfare Financial Technology' (ISW FinTech) as an innovative framework that assesses zakat institutions operational efficiency of zakat collection, transparency, and effective distribution that would lead to well being of zakat recipients. This framework is based on new six clusters according to their needs and priority, which convert them from being zakat recipients into zakat payers

Islamic Finance

The Islamic finance industry is estimated around $1.7 trillion with substantial growth momentum over the past decades. It is now, particularly in the Middle and Far East, too important to be ignored. In this chapter we review the most salient features of Islamic finance, including the key differentiating features from the rest of the conventional financial universe. A significant volume of research focuses on the comparative performance of Islamic and conventional banks across a wide range of metrics, such as profitability, risk and efficiency. Islamic stock and bonds markets are also an important segment of the related comparative literature and we review these studies too. The aim of this chapter is to provide a comprehensive and up-to-date review of the extant literature, useful for academics and practitioners with little or significant experience in the Islamic finance sector