The Impact of Islamic Finance in Promoting Education for Sustainable Development

A Study of the Islamic Banking and Private Education Sector

Abstract

The world is witnessing major changes in the vision and approach of higher education and its educational and research orientations. These changes have been in response to global developments and developments that have changed many concepts and attitudes towards higher education. According to this vision, the current research aims to identify the possibility of abandoning the civil education in Iraq from the traditional perspective aimed at education and scientific research and turning to the modern perspective which works to build an integrated system to reach the approach of sustainable development in education by focusing on the environmental,

The transformation of education from a traditional perspective to a modern perspective based on sustainable development requires an increase in its capabilities and capabilities. Therefore, educational institutions need to increase their sources of funding and resort to Islamic finance as one of the main sources of funding.                                                                               

In order to achieve the objectives of the research, a questionnaire was designed to show the extent to which Islamic banks have access to the funding structure of the faculties of Islamic studies (Islamic University, Al-Sheikh Al-Tusi College, Al-Kafeel College). The questionnaire was distributed in full, (Spss, v.15), where the results showed a relationship of correlation and effect between the variables of the study. The study also examined the size of the financial qualifications for the Islamic banking sector to enter the field of financing private education. The financial analysis was conducted for a sample of banks which reached (6) banks and over a period of time (2013-2016). The study reached a number of conclusions, the most important of which is that the Islamic banks sample study has the qualifications, capabilities and sufficient resources to enter as a partner or lender to the sector of civil education.