Siham Riache, Bilal Louail, Fawzi Chahdi, Nikolay Penev, Sergey Radukanov
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The effect of Islamic development bank projects on economic growth in the Gulf Cooperation Council countries
Background: Islamic Development Bank in GCC countries facilitates economic growth by funding infrastructure projects, promoting Islamic finance, and fostering collaboration among member states. It supports diversification efforts, social development, and sustainable initiatives, aligning with regional priorities and Islamic finance principles for inclusive prosperity. Objectives: The study seeks to elucidate the significance of the Islamic Development Bank in fostering economic expansion in GCC countries via foreign direct investment. Methods/Approach: In this work, we employ the Panel data approach to analyze the GCC countries from 1980 to 2023. Results: We discovered a notable and meaningful correlation between foreign direct investment, the expansion of individuals