On the Sustainable Development Goals and the Role of Islamic Finance

The Sustainable Development Goals, the global development agenda for 2015 through 2030, will require unprecedented mobilization of resources to support their implementation. Their predecessor, the Millennium Development Goals, focused on a limited...

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Bibliographic Details
Main Authors:	Ahmed, Habib, Mohieldin, Mahmoud, Verbeek, Jos, Aboulmagd, Farida
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2015
Subjects:	CREDIT DEFAULT SWAPS ACCOUNTING DEPOSITS VALUATION DEBTORS INTEREST INSTITUTIONAL INVESTORS RATE OF RETURN DEBT CRISIS LONG-TERM FINANCE OPTION DEVELOPING COUNTRIES EQUITY CAPITAL MARKETS REVENUES EQUITY FINANCING FISCAL POLICY MARKET INSTRUMENTS SOVEREIGN ENTITIES LOAN CREDITWORTHINESS PAR VALUE MUTUAL FUNDS ISLAMIC FINANCE BANKRUPTCY ISLAMIC FUNDS INTERNATIONAL TRANSACTIONS INVESTMENT CORPORATION INSTRUMENTS EQUITY CAPITAL DERIVATIVES ALTERNATIVE INVESTMENT CURRENCY FINANCIAL INSTITUTION IMMUNIZATION RESERVE BANK TRANCHES LOCAL INVESTORS ECONOMIC TRANSACTIONS GLOBALIZATION INVESTMENT FUNDS MONETARY FUND EMERGING MARKET DERIVATIVE PRODUCTS FINANCIAL INSTITUTIONS CAPITAL MARKET DEBT MARKETS SETTLEMENT DEMAND-SIDE FACTORS INCOME LEVELS PRIVATE FINANCE EQUITIES INVESTMENT STRATEGY BANK POLICY PERMANENT SHOCKS BANKING SECTOR INVESTMENT DECISIONS TRANSACTIONS DEBT FINANCING INTERNATIONAL STANDARDS INVESTMENT BANKS TRANSFER OF PROPERTY RIGHTS FEDERAL RESERVE BOND MARKETS GOOD INTERNATIONAL TRADE TRANSPARENCY DERIVATIVE ISLAMIC FINANCIAL INSTITUTIONS FUTURE INFRASTRUCTURE FINANCING DEBT CRISES ISLAMIC MARKET GOVERNMENT EXPENDITURE DERIVATIVE CONTRACTS ISLAMIC BANKING CAPITALIZATION ISSUANCE LOCAL CURRENCY CONVENTIONAL FINANCE SECURITIES TREASURY MICROCREDIT SHAREHOLDERS INSURANCE MICROFINANCE ECONOMIC DEVELOPMENT INVESTMENT STRATEGIES ISLAMIC THOUGHT INVESTMENT BANKING FINANCIAL INSTABILITY COMMERCIAL BANKS INFRASTRUCTURE FINANCE FINANCIAL ASSETS COUPON DEVELOPMENT FINANCE LENDING SHAREHOLDER AMOUNT OF DEBT INSURANCE COMPANIES GOVERNMENT INVESTMENT REMITTANCES DEVELOPMENT BANK STOCK MARKETS BACKED SECURITIES INVESTMENT RISK HUMAN DEVELOPMENT DEBT RELIEF INVESTING INVESTMENT DECISION MICROFINANCE INSTITUTION CAPITAL MARKETS DEPOSIT REGULATORY FRAMEWORK LIABILITY STOCK CONVENTIONAL BANKING FUTURES DERIVATIVE INSTRUMENTS LIFE INSURANCE ZERO COUPON DEPOSIT TAKING INSTITUTIONS INVESTMENT FUND PROPERTY RIGHTS EXCHANGE STOCK MARKET ISSUANCES LIQUIDITY EQUITY MARKET INFRASTRUCTURE DEVELOPMENT CDS MORTGAGE BONDS DISCOUNT TAX ASSET MANAGEMENT RESERVE CENTRAL BANKS BENEFICIARIES ISLAMIC CAPITAL MARKET PRODUCTS ISLAMIC ECONOMY INTERNATIONAL BANK CREDIT SALE SAFETY NETS ENABLING ENVIRONMENT CREDIT DEFAULT ISLAMIC FINANCIAL INDUSTRY MICROFINANCE INSTITUTIONS ELECTRONIC BANKING CENTRAL BANK INTERNATIONAL FINANCE FINANCE INTERMEDIARIES SUKUK ISLAMIC FINANCIAL MARKET CREDIT UNIONS DISBURSEMENT CONTRACTS INTEREST RATES OPTIONS PRIVATE INVESTMENT RETURN DEFICITS INTERNATIONAL DEVELOPMENT LENDERS LOANS RESERVES NEGATIVE SHOCKS FINANCIAL SYSTEM PRIVATE EQUITY FINANCE EXPENDITURE DEBT LEVELS EQUITY TRANSACTION INVESTORS RIBA FEDERAL RESERVE BANK ISLAMIC INSTRUMENT FINANCIAL STABILITY PRIVATE SECTOR CREDIT TRANCHE FINANCIAL CRISIS ISLAMIC BANKS RETURNS LEGAL INSTRUMENTS INVESTMENT BANK ISLAMIC CAPITAL CONTRACT CAPITAL FLOWS PROPERTY PROPERTIES ISLAMIC ECONOMICS DEFAULT MARKET RURAL BANK ISLAMIC INVESTMENT ISLAMIC FINANCIAL SERVICES COOPERATIVE BANK INFRASTRUCTURE INVESTMENTS GOODS CORPORATE DEBT INVESTOR SECURITY BANK LOANS FINANCIAL MARKET INTERNATIONAL MARKET STOCKS DEBT INSTRUMENTS INVESTMENT BOND SHARE INVESTMENT CLIMATE POVERTY FINANCIAL MARKETS DEBT OBLIGATIONS ISLAMIC CAPITAL MARKETS REVENUE PROFIT INVESTMENTS LOAN CONTRACTS OUTSTANDING AMOUNT RISK MANAGEMENT IMMOVABLE ASSETS LEGAL PROHIBITIONS SWAPS INSTRUMENT ISLAMIC CAPITAL MARKET PROFITS DIRECT INVESTMENTS HEDGE ISLAMIC LAW INSURANCE PENETRATION INTERNATIONAL SETTLEMENTS GUARANTEE MICROENTERPRISES
Online Access:	http://documents.worldbank.org/curated/en/2015/05/24488422/sustainable-development-goals-role-islamic-finance http://hdl.handle.net/10986/22000

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Summary:	The Sustainable Development Goals, the global development agenda for 2015 through 2030, will require unprecedented mobilization of resources to support their implementation. Their predecessor, the Millennium Development Goals, focused on a limited number of concrete, global human development targets that can be monitored by statistically robust indicators. The Millennium Development Goals set the stage for global support of ambitious development goals behind which the world must rally. The Sustainable Development Goals bring forward the unfinished business of the Millennium Development Goals and go even further. Because of the transformative and sustainable nature of the new development agenda, all possible resources must be mobilized if the world is to succeed in meeting its targets. Thus, the potential for Islamic finance to play a role in supporting the Sustainable Development Goals is explored in this paper. Given the principles of Islamic finance that support socially inclusive and development promoting activities, the Islamic financial sector has the potential to contribute to the achievement of the Sustainable Development Goals. The paper examines the role of Islamic financial institutions, capital markets, and the social sector in promoting strong growth, enhanced financial inclusion, and intermediation, reducing risks and vulnerability of the poor and more broadly contributing to financial stability and development.

On the Sustainable Development Goals and the Role of Islamic Finance

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