#islamic-finance

#islamic-finance

"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."

Over 280 million Southeast Asians, about 40% of the region's population, identify as Muslim. That's spawned demand for goods and services that cater to a more Islamic lifestyle. It's more than just halal food: Muslim consumers also demand more modest fashion or cosmetics that don't use pig-derived products or alcohol. Even Southeast Asia's finance sector is becoming more halal. Islamic finance in Southeast Asia totaled roughly $859 billion in 2023, up from $754 billion in 2020.