Does the interaction factor of financial development * FDI have positive impact on the economic growth of Islamic Countries?

The subject of economic growth has been one of the controversial topics among the researchers and policy makers so that most the researchers such as Shaw (1973); King and Levine (1993) believe a positive relationship between the economic growth and financial development. In other hand, some specialists like Locus and Patrick don't versify such a positive relation. This is while the grater of the researchers has not examined the relationship through the impact of interactions factors such as foreign direct investment. Hence, this paper aims to examine the main relationship by focus on interaction factor, Financial Development * FDI for the some Islamic Countries during the period 1999 - 2009 using the Dynamic Panel Data technique. The results confirm that the interaction has positive and significant on the economic growth of the Islamic countries.