The Islamic finance industry’s leading media group REDmoney Group, which is also the parent of IFN, is launching a new digital media platform — the first of its kind — focusing on two of the fastest-growing areas of the global financial market: sustainable financing and Islamic finance. NESSREEN TAMANO writes.
The Islamic Sustainable Finance & Investment platform, which covers exclusive content relating to the development of Shariah compliant sustainable financing and investing around the world, will go live on the 9th May 2022, with the Securities Commission Malaysia’s Capital Markets Malaysia (CMM) as a launch partner.
The International Islamic Financial Market, the Islamic Corporation for the Development of the Private Sector, the International Islamic Trade Finance Corporation, the Islamic Corporation for the Insurance of Investment and Export Credit, the IsDB Institute and the UN Global Compact Network are strategic partners while IdealRatings is a data partner.
“The growth of sustainable finance has been phenomenal, and the potential for Islamic sustainable finance is immense. The world has recognized the instrumental role of finance in doing good and we are excited to be part of the movement,” shared Vineeta Tan, the managing editor and a director of REDmoney.
“Islamic Sustainable Finance & Investment is the first global media platform dedicated to this booming sector. The multi-channel platform will serve the industry with independent coverage and analysis in the form of reports, case studies, interviews, audio and video podcasts, virtual roundtables and leadership articles, among others,” Vineeta explained.
Navina Balasingam, the head of stakeholder engagement and business development at CMM, commented: “CMM is committed to supporting industry-wide initiatives that profile the significant potential of the Islamic capital market in financing climate action and sustainable development. We are delighted to support Islamic Sustainable Finance & Investment which will serve as a facilitative platform to position the industry and encourage cooperation and knowledge-sharing.”
Islamic finance — Shariah sustainable finance in particular — stands to grow significantly in the coming decades, and is also well-placed to play a crucial supporting role in the implementation of the UN Sustainable Development Goals (SDGs).
According to Global Sustainable Investment Alliance figures, as of 2021, US$35.3 trillion in assets were being professionally managed globally — an increase of 54% from US$22.9 trillion in 2016, with assets having risen 15% over 2020–21. The United Nations Commission on Trade and Development has estimated that between US$5 trillion and US$7 trillion in annual investments would be needed until 2030 to fund the 17 SDGs in developing countries. Global Islamic finance assets, meanwhile, are forecast to reach US$4.83 trillion in 2025 — a rise of 119% from a decade earlier, according to Refinitiv.
To access exclusive content on the Islamic Sustainable Finance & Investment platform, register here.