Financing Post-disaster Recovery Through Islamic Banking: Instruments, Case Studies and Policy Implications
Ramzi Abdullah Ahmed Hassan *
SRTM, University, Nanded, India.
*Author to whom correspondence should be addressed.
Abstract
This study delves into the critical importance of both immediate relief and long-term rebuilding efforts following a natural disaster strike. It highlights the urgent need for a well-organised, up-to-date, and centralised system to facilitate the prompt delivery of aid to those who need it the most. This study also examines the financial challenges of financing reconstruction efforts and explores the unique role of Islamic banks in addressing this issue.
This study emphasises the principles of Islamic banking that promote sustainable development and social responsibility. It further explores the various financial contracts employed to finance reconstruction projects, such as mudarabah, musharakah, and Sukuk. This study shows that Islamic finance can play a significant role in rebuilding communities and promoting economic growth in the aftermath of a natural disaster.
Keywords: Islamic banking, post-disaster, reconstruction