Green Sukuk as a tool for achieving sustainable development

Authors

  • Samir Zanat University of M'sila, Algeria
  • Hadjira Betka University of M'sila, Algeria

Keywords:

Green economy, Sustainable development, Green finance, Green banks, Green sukuk

Abstract

This study aims to highlight the importance of the role played by the green economy in achieving sustainable development through green sukuk, which are financial instruments linked to environmentally friendly investment. The study concluded several key findings, most notably that the green economy contributes to sustainable development by accomplishing green projects and investments that are environmentally friendly, through the use of modern technologies in the field of clean energy. This aids countries in expanding their sustainable economy, moving away from traditional economies that harm natural resources.

References

Al-Banna, Z. M., & Amir, N. N. A. (2020). Green financing and its role in improving the performance of Iraqi banks. Iraqi Journal of Administrative Sciences, 15(60), 141-183.

Al-Khawli, O. (1999). The concept of sustainable development, extraordinary papers. Center for Management Studies and Consultations.

Azzaizieh, S. (2020). Green Sukuk as a Mechanism to Support Financing Environmentally Responsible Investments - An Analytical Study of the Global Trend. Journal of Economic Issue Studies, 11(02), 01-17.

Bahri, A., & Qada, S. (2017). Finance and the Environment, Are Islamic Banks the Solution? Journal of Economic Studies and Research in Renewable Energy, 04(01), 171-183.

Bakdi, F., & Khabbazi, F. Z. (2020). Green bonds as a financing tool for early engagement in financing clean investment projects. Creativity Journal,, 10(01), 306-321.

Barahmon, H. (2016). Green Economy: A Path to Achieving Sustainable Development - The UAE Experience. Journal of Scientific Knowledge, 11(21), 290-308.

Bourouba, K., Safi, A., & Tafli, B. Y. (2020). The importance of the trend towards green finance in Algeria and its role in promoting sustainable development. Journal of Strategy and Development, 10(Special Issue), 12-30.

Boutelja, A. N., & Bourhala, M. (2012, 03-04/12). The role of the state in achieving sustainable development in the light of the Islamic economy (the Moroccan experience). International conference on: Elements of achieving sustainable development in the Islamic economy, Guelma, Algeria.

Ghanem, O. M., & Bouzant, M. A. (2007). Sustainable Development (1st ed.). Dar Al Safa for Publishing and Distribution.

Hafai, A. Q., & Shukhum, R. (2018). Islamic Green Finance and its Role in Serving Sustainable Development - Green Islamic Bonds in Malaysia as a Model. Journal of Economic Notebooks, 10(02), 336-348.

Hamdi, Z., & Salka, A. (2020). Green Finance Projects as a New Trend towards a Green Environment. Al-Ijtihad Journal of Legal and Economic Studies, 09(01), 567-584.

Jaloul, K. B., Bakhakhsha, M., & Boudiaf, A. (2018). Transition to a green economy is an effective mechanism to alleviate poverty and achieve sustainable development. nternational conference on Algeria and the inevitability of moving towards a green economy to achieve sustainable development, Algeria.

Khanafer, A., & Zawi, A. R. B. (2016). Green Economy as a Strategic Option for Algeria in Light of Declining Oil Prices. Journal of Economic and Financial Studies, 09(03), 88-101.

Lahcen, A. (2018). Green bonds as a tool to finance and support the transition to a green economy within the path of achieving sustainable development. Journal of Finance and Markets, 04(08), 259-286.

Maghrawa, F. B. H. J. (2017). Sustainable development between theoretical proposal and practical reality - A study of the proposed Arab strategy for sustainable development beyond 2015. Journal of Management and Development for Research and Studies, 06(01), 152-167.

Qaham, W., & Sharq, S. (2016). Green Economy to Confront Environmental Challenges and Create Job Opportunities - Green Economy Projects in Algeria. Journal of Economic and Financial Research, 435-455.

Qurain, R., & Harraq, M. (2019). The Green Economy Option: Between Chances of Success and Indicators of Failure in the Arab Region. Journal of Humanities, 30(02), 175-197.

Raddas, M., & Aati, Y. (2019). Green Economy: A Path to Achieving Sustainable Development with Reference to Algeria. Journal of Economics and Environment, 02(02), 93-113.

Ramadan, I., Harmon, I., & Muqeem, S. (2019). Green Finance as a Mechanism to Promote Sustainable Energy Projects - International Experiences with Reference to the Case of Algeria. Journal of Business and Finance Economics, 03(03), 460-476.

Sekreter, A. (2017). Green Finance and Islamic Finance. International Journal of Social Sciences &Educational Studies, 04(03), 115-121.

Shahin, B. (2000). Principles of Sustainable Development. International House for Cultural Investments.

Tayel, M. K. A.-S. (2006). Investment Decision in Islamic Banks. Modern University Office.

The Bond and Sukuk Information Exchange. (2020). SRI Sukuk: The Journey Towards Sustainable and Responsible Investment. Retrieved 13/12 from https://www.bixmalaysia.com/learning-center/articles-tutorials/sri-sukuk-the-journey-towards-sustainable-and-responsible-investment

Zahal, H., & Sharif, O. (2018). The Importance of Moving Towards Green Islamic Finance (Green Islamic Sukuk) to Promote Sustainable Development with Reference to the Case of Malaysia. Journal of Business and Finance Economics, 03(02), 49-68.

Zidane, F. Z. B., Boudia, F., & Chelihi, T. (2020). Green Sukuk: A Sustainable Financial Industry - A Global Perspective. Journal of Economic Reforms and Integration into the World Economy, 14(01), 88-99.

Published

2024-12-14

How to Cite

Zanat, S., & Betka, H. (2024). Green Sukuk as a tool for achieving sustainable development. International Journal of Economic Perspectives, 18(12), 2597–2610. Retrieved from https://ijeponline.org/index.php/journal/article/view/796

Issue

Section

Peer Review Articles