Steadfast in crisis: Can Islamic finance enhance Cameroonian SMEs’ resilience strategies against the COVID-19 pandemic and the Russia/Ukraine war?
This study examines the effects of Islamic finance on the resilience of Cameroonian SMEs during the COVID-19 pandemic and the Russia-Ukraine war. Analyzing data from 1,358 SMEs using a multivariate probit model, we find that Islamic finance significantly boosts strategies like online marketing, new raw material sourcing, and product development. Mediation analysis shows these effects are direct and mediated through increased R&D expenditure. The results highlight Islamic finance's role in enhancing SME resilience and urge policymakers to improve the accessibility and adoption of Islamic finance products. This can be achieved by integrating Islamic finance education into SME support programs and supporting the development of Islamic finance operations to foster entrepreneurship and economic resilience.
Authors
- Muhamadu Awal Kindzeka Wirajing (ORCID: https://orcid.org/0000-0001-6151-4417)
- Ali Haruna (ORCID: https://orcid.org/0000-0002-9891-3355)
- Wissal Sahel (ORCID: https://orcid.org/0009-0000-4414-053X)
- Philippe Herman (ORCID: https://orcid.org/0000-0003-3408-0005)
Institutions
- Mohammed V University (MA)
- Université de Dschang (CM)
- Institut de Recherches Médicales et d’Etudes des Plantes Médicinales (CM)
Publication Details
- Journal
- Borsa Istanbul Review
- Published
- 2025-03-11
- DOI
- https://doi.org/10.1016/j.bir.2025.03.002
- Citations
- 2
- Primary Topic
- Islamic Finance and Banking Studies
- Type
- article
- Field-Weighted Citation Impact
- 7.82