ISLAMIC FINANCE AND CONVENTIONAL FINANCE: WHAT INTERACTIONS AND WHAT ISSUES?

Résumé

Islamic banks have come to challenge the established institutional order with notions of solidarity development and sustainable development, atypical forms of organization, structures, completely new financing operations.

This work seeks to study the contribution of Islamic financial development in terms of economic growth and financial stability. On the one hand, it shed lights  on a theoretical analysis of the causal link between financial development and economic growth. On the other hand, it highlights on the meaning of the relationship between Islamic finance and development.

Moreover, the article examines the literature relating to the treatment of the interaction between Islamic finance and development while studying the main theoretical currents. The article also reviews the contributions of empirical studies that have tested the link between Islamic finance and economic growth.