أثر جائحة (كوفيد-19)‎ على المؤسسات المالية الإسلامية

Abstract EN

In this intervention, I discussed a research entitled “Economic and Social Implications of the Emerging Coronavirus (Covid-19)" by researcher Ahmed Mahdi Belouafi as part of the contribution to the discussion forum of King Abdulaziz University’s Journal: Islamic Economics.

During the discussion, I focused on the impact of this pandemic on Islamic financial institutions, which were represented by the negative impact on lease contracts and forward sales contracts mainly, as it led to the inability of clients to pay the installments and the issuance of instructions from central banks ordering financial Islamic institutions and others to postpone installments for certain periods and make arrangements suitable for customers' conditions to overcome the ordeal.

This disadvantages lead to negatively effects on financial Islamic institutions in the long run, especially since the pandemic is still ongoing, so at the end of the paper a number of proposals were presented to Islamic institutions to be able to deal with these negative effects of the pandemic, such as allowing Islamic banks to use the mandatory cash reserve and compensating financial Islamic institutions by the government within the support packages and others.