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The covid-19 crisis and islamic development bank

Author:

Serene Liza Thomas

Subject Area:

Health Sciences

Abstract:

The Covid 19 pandemic has affected the Islamic banking sector tremendouslyjust like the conventional banking sector. The magnitude of damage has been much larger and widespread across the world when you compare it with the 2008 subprime loan crisis. TheIslamic Development Bank group has been taking sincere efforts to uplift the member countries from the adverse effects of the pandemic with the products of Islamic finance.The study aims to finds out the efforts taken by the Islamic Development Bank Group (IsDB) to revive the member countries from the crisis. The paper delves in detail the 3R (Respond, Restore and Restart) programme of IsDB and the funding mechanismof the group to quickly recover from the down phase.

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