April 30, 2018
Abstract: This paper aims to analyze the most effective policies for improving access to and usage of appropriate Islamic financial products by the underserved in the Arab economies. This paper also uses the rules and guidelines of international and regional bodies on issues of financial and banking inclusion, such as the G-20, the Organisation for Economic Co-operation and Development, the Organization for Islamic Cooperation, the World Bank, the Islamic Development Bank and the Arab Monetary Fund; where they are based on international standards and best practices in accordance with the circumstances of different countries. Finally, the paper presents suggestions for the policymakers in Arab economies as a general guide on what could be most effective in most of the countries, most of the time, in order to formulate the appropriate strategy for Islamic finance that goes beyond financial inclusion to end up with social inclusion. Keywords: Financial Inclusion, Financial Exclusion, Banking Outreach, Financial Infrastructure, Financial Consumer Protection, Financial Education, Financial Literacy, Islamic Finance, Arab Economies.