Covid 19 Pandemic Circumstances
The Importance of Using Islamic Finance Techniques
Benefit from Islamic Finance Instruments
|Due to the Covid 19 pandemic, repeated financial and political crisis, mainly in the OIC countries, the current social and economic situation is getting more unstable and worse, namely in terms of health, illiteracy, unemployment and poverty. Consequently, financing United Nations 2030 Agenda for Sustainable Development Goals (SDGs) has become more challenging, and the need for new sources of funding has become more critical.
|In order to fill the SDGs financing gap, several governments and multilaterals, such as World Bank, Islamic Development Bank, UNICEF, UNDP, and Asian development bank have recently considered using Islamic finance techniques to fund their development projects. Many success stories have been recorded in this respect, namely by adopting a collaborative approach between stakeholders.