Global Islamic finance sector moves towards incorporating ESG concerns
Islamic finance industry looking for growth in new areas.
London: Global Islamic finance industry observers are predicting significant growth in Sharia-compliant environmental and social governance (ESG) investment, as the demand for institutions to ethically deploy funds, along with an awareness of climate change and social justice, expands.
According to research conducted by Maybank Islamic Berhad, the Islamic banking arm of Malaysia’s Maybank Group, and IslamicMarkets.com, a UK-based financial intelligence and investing platform, more than a third (36%) of Islamic finance professionals expect “dramatic growth” in combined ESG/Sharia compliance funds over the next two years.
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Rose Pengelly