Mobilizing Non-Traditional Sources of Finance to Achieve the SDGs: The Role of Islamic Finance
Organised by
Islamic Development Bank Group, in collaboration with the World Bank Group
Summary
Non-traditional sources of finance, especially Islamic finance, will play a growing role in financing the post-2015 development agenda. Therefore, the Discussion Note recognizes the need to leverage and crowd in non-traditional sources of finance, private finance and investment in the pursuit of the SDGs. In addition, it underscores the need to boost equity investments in developing country enterprises to encourage and enhance innovation.
The emphasis of Islamic finance on risk-sharing, linkages to the real sector, as well as partnership based and equity focused financing gives it a potentially significant role to play in this endeavor. Islamic finance is well suited to boosting investment in infrastructure, supporting MSMEs, financing “green” investments, and increasing the poor’s access to finance.
Discussions in this event will focus on the potential of Islamic finance as one of the key debt based/right-timing instruments. Islamic finance has a potential to support the post-2015 development agenda through transforming cash flows to provide a steady, predictable stream for development programs based on liquidity needs and time horizons. Discussions will highlight adopting necessary policies, setting up an enabling institutional and regulatory environment to maximize the use of Islamic finance for financing development.
Contact
For inquiries regarding this side event, please contact
- Ahmed Rostom, arostom@worldbank.org,
- Karim Allaoui, kallaoui@isdb.org,