A Prospect Analysis of Developing Islamic Finance in Northwest China Based on the OBAOR

Zhang Yongli, Wang Bo

Journal of Shanghai University of Finance and Economics Vol. 18, Issue 03, pp. 36 - 47 (2016)  DOI:10.16538/j.cnki.jsufe.2016.03.004

Abstract

China's "OBAOR" strategy has become the focus of global attention. It is not only a symbol of China's rise in the world, but also fully reflects the international perspective of China's development, and will have a significant impact on the world economic pattern. Areas along the Silk Road Economic Belt are the main settlement of the Islamic nation, and the Islamic finance developing from the common religious belief and the close economic & cultural exchanges plays a more and more important role in the regional economy and even the global economy. Based on the characteristics & development trend of Islamic finance and the advantages of the development of Islamic finance in Northwest China, this paper argues that the opportunity for Northwest China to develop Islamic finance has been mature under the "OBAOR" strategy, and gives related policy suggestions about the development of Islamic finance in Northwest China.

Keywords

Northwest China; One Belt And One Road (OBAOR); Islamic finance; Silk Road Economic Belt