There is consensus that the global economy is facing a recession - if not a depression - in the wake of the coronavirus pandemic. Many parts of the world may be protected from the worst of its effects by the billions in increased consumer spending and charitable giving during the holy month of Ramadan, which started last week. There is an accommodation between materialistic and spiritual values in Muslim-majority countries, as well as Muslim communities in Europe and North America, that may provide an economic lifeline for billions of people across the globe.
