""Islamic finance and sustainable finance are both values-based systems. Islamic finance emphasizes social justice, welfare, and the avoidance of harm, and these three principles align naturally with ESG and sustainability.""
""Last November, Maybank and the government of Sabah agreed to work together on the world's first 'blue sukuk,' designed to finance marine conservation, sustainable fisheries and coastal ecosystem restoration.""
""The potential of the blue economy is immense," Malaysia's deputy minister of economy, Datuk Hanifah Hajar Taib, said during the ASEAN Blue Economy Forum last September."
Islamic finance encompasses approximately $2.8 trillion in global assets, yet sustainable loans remain largely non-compliant with Shariah law. Datuk Shahril Azuar Jimin believes this gap can be bridged, as both Islamic and sustainable finance share values of social justice and welfare. Banks in the Middle East and Southeast Asia are adopting Islamic finance to cater to Muslim populations. Maybank is pioneering the world's first 'blue sukuk' to fund marine conservation, reflecting Malaysia's commitment to the blue economy and sustainable practices.
Read at Fortune
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