U.N.’s Principles for Responsible Banking under-represented in Islamic countries, says new study
LONDON - The U.N.’s Principles for Responsible Banking, the framework that helps signatories to align with the Sustainable Development Goals and the Paris Climate Agreement, remain under-represented in countries of the Organisation of Islamic Cooperation, according to a new report.
The non-profit UK Islamic Finance Council co-authored the new report released on Thursday (June 10) in partnership with Malaysia-based International Shariah Research Academy for Islamic Finance and the Global Ethical Finance Initiative.
The report highlights that although Islamic finance is naturally aligned to responsible banking, only a small number of Islamic financial institutions and financial institutions in Organisation of Islamic Cooperation countries have signed up to the U.N.’s principles.
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