The Reality of Islamic Financing for Green Development Projects: Successful Asian Countries as Models
Keywords:
Islamic finance, green development, green projects, Islamic financing formulas, Asian countriesAbstract
Abstract: This research examines the critical role of Islamic financing in advancing green development projects, a pressing challenge confronting Asian nations that have actively pursued contemporary green financial instruments to foster sustainable development. The study establishes a comprehensive theoretical framework encompassing Islamic finance, its principal modalities, and applications within the green development paradigm, while systematically analyzing the utilization of these instruments within Asian Islamic banks. The findings demonstrate that Islamic banking constitutes a vital mechanism for supporting green development projects through Sharia-compliant financing formulas aligned with sustainability strategies, substantiated through selected case studies from successful Islamic Asian countries that have effectively employed Islamic financing for green development projects in accordance with Islamic jurisprudence.
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