Many people might perceive Islamic finance as a religious phenomenon. However, it is not just about religious preference or only restricted and beneficial for majority Muslim populations. In fact through a true adaptation of objectives of Shariah (“Maqasid al Shariah”), Islamic finance has the inherent power of playing a key role in the empowerment of individuals and communities, promoting entrepreneurial culture, investing in a real and sustainable economy hence benefitting the wider society and the country’s economy.

Islamic finance is a real force for any country if the latter capitalise on its economic dynamics and financial benefits instead of only citing its traditional religious arguments and pillars.

The development of Islamic finance will help any government in achieving many of its socio-economic development objectives by way of: