GANA’DA SÜRDÜRÜLEBİLİR KALKINMADA İSLAMİ FİNANSIN ROLÜ

This paper examines the role of Islamic economics and finance principles and products in achieving Sustainable Development Goals (SDGs) in Ghana. To achieve the objectives, the study used descriptive study and qualitative methods of data analysis and to some extent used some data from sustainable development reports. The finding from the study shows that Islamic finance in Ghana is currently hindered by awareness barriers and regulatory challenges that result in restrictions on the contribution to SDGs. At the same time, the study revealed that through the application of the waqf model, Islamic finance is contributing a lot to the attainment of the SDGs in Ghana. The study recommends that expanding Islamic financial products, such as microfinance and socially responsible investments, will enhance financial inclusion and support entrepreneurship in Ghana (SDG 8). Public-private partnerships (PPPs) using sukuk can help fund large-scale infrastructure projects, contributing to sustainable cities (SDG 11) and climate action (SDG 13). By integrating Islamic finance into national policy, Ghana can foster a more inclusive, ethical, and resilient economy that aligns with global sustainability goals.

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Publication Details

Journal
DergiPark (Istanbul University)
Published
2024-12-03
Primary Topic
Islamic Finance and Banking Studies
Type
article
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article

GANA’DA SÜRDÜRÜLEBİLİR KALKINMADA İSLAMİ FİNANSIN ROLÜ

Erhan Akkaş, Habtamu Legass, Muniem Adam
DergiPark (Istanbul University)
Islamic Finance and Banking Studies
article

GANA’DA SÜRDÜRÜLEBİLİR KALKINMADA İSLAMİ FİNANSIN ROLÜ

Erhan Akkaş, Habtamu Legass, Muniem Adam
article en

Abstract

This paper examines the role of Islamic economics and finance principles and products in achieving Sustainable Development Goals (SDGs) in Ghana. To achieve the objectives, the study used descriptive study and qualitative methods of data analysis and to some extent used some data from sustainable development reports. The finding from the study shows that Islamic finance in Ghana is currently hindered by awareness barriers and regulatory challenges that result in restrictions on the contribution to SDGs. At the same time, the study revealed that through the application of the waqf model, Islamic finance is contributing a lot to the attainment of the SDGs in Ghana. The study recommends that expanding Islamic financial products, such as microfinance and socially responsible investments, will enhance financial inclusion and support entrepreneurship in Ghana (SDG 8). Public-private partnerships (PPPs) using sukuk can help fund large-scale infrastructure projects, contributing to sustainable cities (SDG 11) and climate action (SDG 13). By integrating Islamic finance into national policy, Ghana can foster a more inclusive, ethical, and resilient economy that aligns with global sustainability goals.

DergiPark (Istanbul University)
Sakarya University (TR)
Partnerships for the goals
Openalex Percentile: Top 56%
Islamic Finance and Banking Studies
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