null Analysts Review the Impact and Role of Sustainable Finance in the Non-Interest Market
Analysts Review the Impact and Role of Sustainable Finance in the Non-Interest Market
23 Jun 2021 | Wednesday Source: Pro Share
Sustainable Islamic finance has become a priority for many governments and institutions including sustainability objectives within their mandates. According to Refinitiv, from 2017-Q1 2021, the ESG Sukuk was valued at a remarkable $12.6bn and ESG funds at $756m. Islamic social financing must be an integral part of the solution for financing sustainable development.
Through Islamic Finance there are opportunities for enterprise development, trade, skills development, Shariah-compliant product and services that key into sustainability and socio-economic inclusion. According to Madelena Mohamed, Director Islamic Banking and Takaful Department Bank Negara Malaysia, sustainability has shifted from a mere conceptual aspiration that is linked to the fundamental value of sharia, to an increased strategy that organizations can leverage including Islamic Finance institutions.
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