Islamic Economics and Finance in Times of Crisis

Casa Árabe is participating in this latest edition of the course “The Arab-Muslim World in Transformation: 2020,” organized by IECAH and La Casa Encendida, with a session on Islamic finance.

Held from October 6 to 28, this is the sixth edition of a course intended for raising awareness about the social, political, economic and security-related reality of the Arab and Muslim world in all its complexity. This means studying both its history and the present era, reviewing not only the colonial experience, but also the change in relations between the West and these countries across time. It also involves studying the main conflicts still active in the area, the nature of these countries’ political regimes, the main socio-cultural factors there, the causes and consequences of migratory movements, and other socio-economic issues ranging from energy to the development of Islamic finance.

Ten years after the beginning of the popular uprisings which affected a large part of the Arab-Muslim world to a greater or lesser degree, the current stage continues to be held back by majorly lacking resources in terms of development and welfare, in addition to security. In a situation exacerbated by the crisis which the pandemic has caused, this course performs an interesting analysis of the socio-political and economic contexts in which a whole series of changes and transformations are taking place in the region.

Going further in-depth, Olivia Orozco, Casa Árabe’s Training and Economics Coordinator, gave a session on the topic of “Islamic Economics and Finance:  Alternatives in times of crisis” on October 21. It focused on analyzing the development that this type of finance has undergone in these countries, and more specifically in North Africa, where in recent years, as part of the economic agenda of Islamist parties and movements, significant change and incentives have been experienced, after sponsorship and promotion through government policies. In recent months, the expansion of Islamic finance has also been expanding in the region, due to the need for economic revival and stimulus resulting from the pandemic, as seen in the latest changes to be implemented in Algeria.

Program
Information about the course at La Casa Encendida