Islamic finance converges with sustainability

One group of financiers believes it has a ready-made solution to the rapidly rising global concerns over sustainability.

Islamic finance, say its proponents, can help divert capital flows towards human activities with a positive environmental and social impact, and away from those with a negative effect.

According to Rafe Haneef, Group Chief Sustainability officer at CIMB bank, there’s a growing recognition that the moral precepts of Islam have a lot in common with global standards like the sustainable development goals (SDGs) set out by the United Nations (UN).

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