As the world economy goes through a fast transformation, the ability to attract foreign investment is an essential strategy of promoting economic development especially in the Islamic finance. Being Jordanian business leader and have seen the country’s economy transform due to the right investments in this sector. If we plug in to the framework of Islamic finance and make the environment conducive to foreign investors, then there is no limit to how much we can grow.
UNDERSTANDING ISLAMIC FINANCE: THE PARAMETERS OF INVESTING
Islamic finance is based on the concepts that are fundamentally different from conventional finance by affecting ethical value, risk, and sharing and barring from receiving the interest. Such principles correlate with the modern tendencies of some global investors who are trying to find ethical and sustainable investment offers. In my view as a Jordanian business leader, there is a major role for promoting and stressing the ethical initiative of the Islamic finance.
DEVELOPING A FAVOURABLE CLIMATE FOR INVESTMENT
To promote the interest of foreign investors in Islamic finance, there is the need to establish an appropriate environment for investment encouraged by international standards of Islamic finance. They include the correct market standards through policy and legal drain, providing correct tax privileges, and providing correct legal rights to the investors. In my experience as a business person from Jordan, it has been seeming that the expansion of the Islamic finance market is indeed fueled by the increased confidence of foreign investors as a result of an effectively regulated and more transparent financial environment.
BUILDING STRONG FINANCIAL INSTITUTIONS
Financial pillars are undeniably among the strongest of any investment plan that is being implemented in the market today. Islamic financial systems are made up of Islamic banks, Takaful, Sharia compliant investment companies and many others which act as an avenue through which investment takes place. Thus, with the development of such institutions, they may offer foreign investors a suitable platform for their investment. Being a Jordanian business leader, I recommend that these institutions should always develop and innovate in order to satisfy the current global investors’ needs.
PROMOTING STRATEGIC PARTNERSHIPS
The involvement of international investors and domestic players can greatly contribute to the improvement of the Islamic finance. They are not only sources of funds but also a channel for exchanging knowledge, technologies, and experiences. In my capacity as a Jordanian business person, I encourage the search for such synergies to develop the win-win partnerships that would be useful locally as well as to international linkers.
LEVERAGING TECHNOLOGY AND INNOVATION
Today it is technology and innovation that are considered one of the main sources of investment. Islamic finance has the potential to gain significantly by integration of fintech, including blockchain, digital banking, and/or AI-based financial services. It is therefore worth adopting these innovations so as to make Islamic finance more friendly, efficient and appealing to international investors. In my opinion as a Jordanian business person, there is a need to turn Islamic finance into a technology-basedplayer with an aim of making it a competitive industry in the global market.
CONCLUSION
It is also important to note that global Fund attraction in Islamic Finance needs hard strategic approach mostly grounded on the principles of Islamic Finance, investment climate and sound financial institutions, strategic human relationships, and technology. It is my goal as a Jordanian business leader to help cultivating the right conditions under which Islamic finance could grow and attract international investors. In so doing, it would be possible for us to help support the sustainable growth and development.
Visit my https://drraedelomari.com/ for any queries or insights. As a Jordanian business expert, I am here to help you navigate the complexities of the business world. Contact me today, and let’s work together to achieve sustainable growth in different industries.
