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Islamic Finance on Investment in Green Energy Projects: A Comprehensive Study of UAE

. Mojawir Ahmad Sadat, Duan Xiaohong, Aftab Alam, Waseem Hassan & Musanif Zeb


Abstract

The study delves into the various aspects of Islamic finance and its potential role in supporting sustainable green energy projects within the United Arab Emirates (UAE). By identifying existing green energy projects within the UAE, this study explores to what extent Islamic finance has been implemented in such ventures. Furthermore, it investigates the challenges and opportunities related to utilizing Islamic finance for sustainable development practices in the region. The findings suggest that with appropriate policy interventions and raising awareness, sharia-compliant investment alternatives can play an instrumental role in promoting renewables and standardizing green sukuk products for a wider audience. Through such initiatives, promising investment opportunities are identified within the green energy market for those interested in contributing towards achieving sustainability goals while also adhering to sharia compliance guidelines. Overall, this research highlights how crucial a role Islamic finance could potentially play in bolstering growth and development of sustainable green energy ventures not just locally but also beyond UAE's borders.

 

Keywords: Islamic finance, green energy, sustainable development, UAE, green sukuk, renewable energy, sharia-compliant investment

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