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Purpose <p>This structured literature review synthesizes what is known about the resilience of Egypt’s Islamic financial markets under heightened global uncertainty.</p> Design/methodology/approach <p>Following a transparent screening protocol, we identified 312 records through database searches and targeted web searches, removed 39 duplicates, screened 273 titles/abstracts, assessed 104 full texts, and retained 78 studies and market/industry documents for qualitative synthesis. Of these 78 sources, 52 (approximately 67%) are peer-reviewed academic publications while 26 (approximately 33%) are policy documents, regulatory briefs, and vetted market reports. We organized the evidence using a conceptual framework that links global uncertainty channels (macroeconomic, geopolitical, and financial shocks) to institutional mechanisms (Shariah governance, prudential buffers, market infrastructure, and digital capabilities) and to segment-level outcomes across Islamic banking, sukuk and Islamic capital markets, takaful, and Islamic funds/microfinance.</p> Findings <p>The evidence indicates that resilience in Egypt’s Islamic finance is mainly supported by (i) risk-sharing and asset-backed contractual structures, (ii) governance arrangements that strengthen Shariah compliance and stakeholder trust, (iii) prudential and liquidity management practices, and (iv) digitization and ESG-aligned social finance instruments that help sustain intermediation during shocks. However, the literature remains fragmented, with recurring gaps on liquidity-enhancing tools for sukuk markets, cross-segment spillovers, and consistent micro-level performance metrics.</p> Practical implications <p>We outline actionable policy options centered on coordination between the Central Bank of Egypt (CBE) and the Financial Regulatory Authority (FRA), including a dedicated Shariah governance harmonization task force, improved disclosure standards for sukuk and takaful, and targeted digital and ESG initiatives to deepen inclusion.</p> Originality/value <p>The review consolidates dispersed evidence on Egypt’s Islamic finance and clarifies the mechanisms through which Islamic finance can contribute to resilience and sustainable development in emerging economies.</p>

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A structured literature review of resilience in Egypt’s Islamic financial markets under global uncertainty

  • 期刊论文

  • 出版模式：

    开放获取

  • 发表日期：

    2026年5月21日

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  • Abdelrehim Awad,
  • Ahmed Kordy,
  • Akram Ramada,
  • AlMoatassem Mostafa,
  • Ahmed Moustafa Aldabousi,
  • Ranya Mahfouz

摘要

Purpose

This structured literature review synthesizes what is known about the resilience of Egypt’s Islamic financial markets under heightened global uncertainty.

Design/methodology/approach

Following a transparent screening protocol, we identified 312 records through database searches and targeted web searches, removed 39 duplicates, screened 273 titles/abstracts, assessed 104 full texts, and retained 78 studies and market/industry documents for qualitative synthesis. Of these 78 sources, 52 (approximately 67%) are peer-reviewed academic publications while 26 (approximately 33%) are policy documents, regulatory briefs, and vetted market reports. We organized the evidence using a conceptual framework that links global uncertainty channels (macroeconomic, geopolitical, and financial shocks) to institutional mechanisms (Shariah governance, prudential buffers, market infrastructure, and digital capabilities) and to segment-level outcomes across Islamic banking, sukuk and Islamic capital markets, takaful, and Islamic funds/microfinance.

Findings

The evidence indicates that resilience in Egypt’s Islamic finance is mainly supported by (i) risk-sharing and asset-backed contractual structures, (ii) governance arrangements that strengthen Shariah compliance and stakeholder trust, (iii) prudential and liquidity management practices, and (iv) digitization and ESG-aligned social finance instruments that help sustain intermediation during shocks. However, the literature remains fragmented, with recurring gaps on liquidity-enhancing tools for sukuk markets, cross-segment spillovers, and consistent micro-level performance metrics.

Practical implications

We outline actionable policy options centered on coordination between the Central Bank of Egypt (CBE) and the Financial Regulatory Authority (FRA), including a dedicated Shariah governance harmonization task force, improved disclosure standards for sukuk and takaful, and targeted digital and ESG initiatives to deepen inclusion.

Originality/value

The review consolidates dispersed evidence on Egypt’s Islamic finance and clarifies the mechanisms through which Islamic finance can contribute to resilience and sustainable development in emerging economies.