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Islamic Finance for Sustainable Development Goals

In: Sustainable Development and Infrastructure

Author

Listed:
  • Amadou Thierno Diallo

    (Islamic Development Bank)

  • Ahmet Suayb Gundogdu

    (Islamic Development Bank)

Abstract

Why grants and concessional loans alone are not remedies The UN’s 2030 agenda for sustainable development is based around seventeen sustainable development goals (SDGs), the first eleven of which relate directly to Islamic economics and finance. Indeed, they are an ideal fit with the aims and principles of Islamic finance. As long as sustainable development initiatives yield convincing results, Islamic finance can offer many opportunities for resource mobilization. The principles of Islamic finance indicate different invention methods for sustainable development. Not only grants and concessional loans, but also commercially priced loans should be harnessed to achieve lasting results. The use of grants and concessional loans can be counterproductive for some intervention areas. Also, a clear distinction between the tools of fund provision and resource mobilization methods needs to be made.

Suggested Citation

  • Amadou Thierno Diallo & Ahmet Suayb Gundogdu, 2021. "Islamic Finance for Sustainable Development Goals," Palgrave Studies in Islamic Banking, Finance and Economics, in: Sustainable Development and Infrastructure, chapter 1, pages 1-19, Palgrave Macmillan.
    • Handle: RePEc:pal:psibcp:978-3-030-67094-8_1
    DOI: 10.1007/978-3-030-67094-8_1
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