IIARD International Institute of Academic Research and Development

INTERNATIONAL JOURNAL OF ECONOMICS AND FINANCIAL MANAGEMENT (IJEFM )

E-ISSN 2545-5966
P-ISSN 2695-1932
VOL. 9 NO. 3 2024
DOI: https://doi.org/10.56201/ijefm.v9.no3.2024.pg14.25

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Exploring Islamic Economics, Finance, Banking and Insurance in A Developing Economy: Current Trends Review in Nigeria

EFUNTADE, Alani Olusegun, Ph.D., EFUNTADE, Olubunmi Omotayo, Ph.D.

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Abstract

Purpose: This preliminary study examines the ideas, principles and views of Islamic economics, finance, banking and insurance in Nigeria as well explores their potentials as alternative model of management of scarce economic resources, financing, banking and insurance for not only individuals but also for private sector as well as public sectors.

keywords:

Islamic economics, Islamic finance, Islamic banking, Islamic insurance and Nigeria

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References:

Abdu, M., Jibir, A., Abdullahi, S., & Rabiu, A. A. (2018), ‘Can Islamic banking and finance spur
financial inclusion? Evidence from sub Sahara Africa, CBN Journal of Applied Statistics,
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Abduh, M., & Chowdhury, N. T. (2012), ‘Does Islamic banking matter for economic growth in
Bangladesh?’, Journal of Islamic Economics, Banking and Finance, Vol. 8 No. 3, pp.
104-113.

Abdullahi, N. A. (2016), ‘Islamic banking in Nigeria: issues and prospects’, Journal of Emerging
Economies and Islamic Research, Vol. 4 No. 2, pp. 1-17.

Abdul-Maliq, Y. O. (2010), ‘Islamic banking in Nigeria: opportunities, challenges and

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