Islamic finance supports UN's SDG initiatives, says World Bank

Islamic finance is well position to be an effective instrument to support global efforts to realise the United Nations’ Sustainable Development Goals (SDG) initiatives targeted to be achieved by 2030, The World Bank country manager Dr Firas Raad said.

That is because it has a direct link to the physical assets and the use of profit and loss sharing arrangement, which encourages the provision of financial support to productive enterprises that could increase output and generally, jobs.

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