Islamic Social Finance, delivering the social value Islamic finance is committed to
The social and ethical values of Islamic finance founds the very definition of this new industry and build its viable and competitive advantage as compared to other forms of doing finance. However, after a substantial development in the Islamic finance industry globally in the last decade, the ethical based finance industry is being blamed for not having fulfilled its social promise of economic inclusion and solidarity that constitutes its unique tenets and foundations.
Thus, the development of an Islamic Islamic social finance sector in line with SDG relies heavily on the development and the institutionalization of the Zakat and reestablishment of trust between Zakat payers and Waqf donors and Zakat and Waqf beneficiary and related institutions (Zakat and Waqf related institutions that collect, manage and disburse zakat and Waqf funds to the end beneficiaries). However, these latter are suffering from structural dysfunction due to the lack of the institutional foundations that enable them to execute properly their duties.
At Fineopolis, we work to empower Waqf and Zakat Sectors and institutions by working closely with aid agencies and governmental bodies with a development mandate. Out services include
- establishing appropriate institutional framework at the regulatory level: adoption of standards, adapted and suitable regulation, effective supervision
- empowering institutional capabilities at the operators level : technical expertise, Capacity building, policies and procedures, adoption of technology and digital, etc.
- advising on awareness and communication : creating content and awareness initiatives.