Al Maali and IsDBI Report Spotlights The Relationship Between Fintech and Sustainable Finance

SourceThe Fintech Times
SectorFinancial Services
CountryMiddle east

This is part of the key findings of a new report issued jointly by the Islamic Development Bank Institute (IsDBI), the knowledge beacon of the IsDB Group, and Al Maali Group , a specialised provider of Islamic finance and business consulting in Morocco. Entitled “Bridging Islamic Finance and Sustainability through Fintech: Focus on The Maghreb Countries” , the new report focuses on how to leverage fintech in Islamic banking for linking finance to sustainable development. It finds that the Covid-19 pandemic has underscored the need for sustainability and social orientation of finance to achieve development.

Linking finance to sustainable development has always been a high priority. However, its significance has increased manifold during the Covid-19 pandemic, which has triggered GDP contraction and stymied the achievement of sustainable development goals (SDGs). Building back in the post-Covid-19 era and keeping SDGs on track requires strong involvement of governments, the private sector, and financial institutions. The report further sheds light on the more...