Introduction: Islamic Finance and Contemporary Challenges

What is it about?

Islamic finance is a concept that has gained momentum in the world today. Irrespective of the faith convictions, it has been accepted in the world. The development of it and its resilience to the recent finance crises and the on-going unprecedented pandemic situation, has proved not only its practical benefits; but the untapped its potential has been realised as well. With the development of Islamic finance in the world, it has also been realised that there are numerous challenges facing it and this is one of the reasons why the full potential of Islamic finance has not yet enjoyed. As such, understanding these challenges facing Islamic finance would be the first step towards resolving them as without diagnosing the disease it would be impossible to prescribe an appropriate medicine. As such, it is strongly believed that via research and publication, the development of Islamic finance could be facilitated in this regard.

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