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

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

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 role of participative financial institutions in closing the financing gap for SDGs in the Maghreb Region. It focuses on how to leverage fintech to align participative finance and sustainable development. In his comments on the report, Dr. Sami Al-Suwailem , the