How Ethical is Islamic Finance?
This event, which included a line-up of scholars, industry experts and academics, addressed the topic, "How Ethical is Islamic Finance."
Key take-aways from the event include:
- Development of retail products to give all ethical investors opportunity for value-based choices.
- Any tool which turns land into desert has to be wrong - Islamic finance and sustainability must be ethically aligned.
- ESG and SRI are closer to Islamic principles than Islamic banking.
- Credit risk on its own does not entitle you to take a profit - you must take commercial risk.
- Millennials are driving the financial services market and they demand transparency.
- Development of a UK SME Islamic-compliant fund, based on a FinTech platform, can help recover lost momentum.
- 50% plus of the existing global poor are Muslims and FinTech is the only way to address this problem.