IMPACT OF ISLAMIC FINANCIAL SYSTEM ON ECONOMIC GROWTH: A STUDY OF JAIZ BANK PLC., ILORIN METROPOLIS

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dc.contributor.authorOmolabi, I.
dc.contributor.authorPeleowo, T. K.
dc.date.accessioned2025-04-27T11:46:23Z
dc.date.available2025-04-27T11:46:23Z
dc.date.issued2024
dc.description.abstractGlobally, Islamic finance is set to be one of the fastest-growing sectors. Islamic financial system prohibits interest payments and establishes equity and profit sharing for operational structure activities. As a result, this study sought to examine the impact of the Islamic finance system on economic growth in Jaiz Bank Plc. Horan Metropolis. Specifically, it will examine fit the extent to which philosophies of the Islamic financial system affect economic growth and (4) determine the extent to which Islamic financial intermediaries affect economic expansion. A cross-sectional survey was adopted using simple random sampling techniques. Data were obtained using a questionnaire distributed to 232 staff from a total population of 1,234. Hypotheses drawn are tested using regression analysis. The findings show a significant and positive impact of philosophies of the Islamic financial system on economic growth (22-0.393. p-value < 0.05) and Islamic financial intermediaries on economic expansion (R0.393, p-value < 0.05). The study concludes that a structural Islamic financial system positively and significantly impacts economic growth. The study recommends that managers endeavour to implement the philosophies of the Islamic financial system as it promotes the circulation of funds, which assists in the economy's growth.
dc.identifier.citationOmolabi, I. & Peleowo, T.K (2024) Impact of Islamic Financial System on Economic Growth: A Study of Jaiz Bank Plc., Ilorin Metropolis. International Journal of Applied Economics, Finance & Management. 9(S1), 427-437, published by the Department of Economics, Adamawa State University, Mubi, Nigeria.
dc.identifier.issn2550-7869
dc.identifier.urihttps://uilspace.unilorin.edu.ng/handle/123456789/15460
dc.language.isoen
dc.publisherDepartment of Economics, Adamawa State University, Mubi, Nigeria
dc.subjectIslamic Financial System
dc.subjectIntermediaries
dc.subjectInstruments
dc.subjectEconomic growth
dc.subjectEconomic expansion
dc.titleIMPACT OF ISLAMIC FINANCIAL SYSTEM ON ECONOMIC GROWTH: A STUDY OF JAIZ BANK PLC., ILORIN METROPOLIS
dc.typeArticle

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