THE ROLE OF ISLAMIC FINANCIAL INSTITUTIONS ON THE EMPOWERING OF THE SUSTAINABLE DEVELOPMENT GOALS: EVIDENCE FROM QATAR ECONOMY

Abstract

Currently, meeting sustainable development goals (SDGs) is a requirement on a worldwide scale, and Islamic financial institutions give substantial assistance in this regard. This phenomenon requires the attention of recent studies. In light of this, the current article explores the impact of funds for eradicating poverty, money for health programs, educational loans, investment in research and development (R&D), and investment in renewable energy by Islamic financial institutions on attaining SDGs in Qatar. From 1986 to 2020, secondary data were obtained from the Organization for Economic Co-operation and Development (OECD) and central bank databases. In addition, the autoregressive distributed lag (ARDL) method was used to analyze the connection between the variables. The findings demonstrated that the funds for eradicating poverty, health programs, educational loans, R&D investments, and sustainable energy investments of Islamic financial institutions have a favorable relationship with Qatar's attainment of the SDGs. The report assists regulators in formulating SDG-related regulations with the assistance of Islamic financial institutions.