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Islamic Development Bank Institute: Islamic Finance for the Sustainable Development Goals

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Islamic Finance for the Sustainable Development Goals

Explore the foundations and principles of Islamic finance from the perspective of sustainable development.

Did you know that the financing gap in developing countries to achieve the Sustainable Development Goals by 2030 could increase by 70%in the wake of the​ COVID-19 pandemic? Are you interested in the role of Islamic finance in building a sustainable future? Do you want to learn about the foundations and principles of Islamic finance from the perspective of the Sustainable Development Goals? Are you a development professional engaging with Islamic finance institutions? An Islamic finance professional willing to acquire an in-depth understanding of financing sustainable development? Do you want to be a part of this alliance for a better world by channeling Islamic finance resources for the Sustainable Development Goals?

4 weeks
3–5 hours per week
Progress at your own speed

About this course

Skip About this course

Islamic Development Bank (IsDB), IsDB Science, Technology and Innovation (STI) Fund – Engage Platform, Islamic Development Bank Institute (IsDBI), Durham University Business School, UNDP Istanbul International Center for Private Sector in Development (IICPSD), and the United Nations Development Programme (UNDP) are pleased to provide this free Massive Open Online Course (MOOC) on “Islamic Finance for the Sustainable Development Goals.”

Positioning Islamic finance as broadly relevant to Sustainable Development Goals and not only a niche proposition, this course is the first of its kind designed for capacity building in order to engage development professionals and Islamic finance partners for leveraging this vital source for financing sustainable development.

From the resemblance of Islamic finance principles to the objectives outlined by the Sustainable Development Goals, to the potential of Islamic microfinance in socioeconomic empowerment; this course brings theory and practice together with the authoring and video lecturing contributions of 27 leading subject matter experts.

A certificate of completion only indicates the completion of the course. It does not imply proficiency in the subject matter, nor should it be seen as a professional certification.

The views expressed in this course are those of the instructors and do not necessarily represent those of the United Nations, including UNDP, or the UN Member States.

Course created with support from

Islamic Development Bank Group - IsDBIsDB STI Fund-Engage PlatformIslamic Development Bank Institute - IsDBIDurham University - DUBSUNDP - Istanbul International Center for Private Sector in Development (IICPSD)UNDPAkhuwatAlbaraka GarajAPIFCIMBIBBLIRWBMT BahteraWBG-MalaysiaGIFIIPInnovative Financing LabBCtA

At a glance

  • Language: English
  • Video Transcript: English
  • Associated skills: Empowerment, Lecturing, Sustainable Development, Microfinance, Finance, Innovation

What you'll learn

Skip What you'll learn
  • Understand the 2030 Agenda for Sustainable Development

  • Define the financing mechanisms for sustainable development and the Sustainable Development Goals

  • Acquire extended awareness and comfortable communication in Islamic finance, as well as enhanced understanding of Islamic finance principles and the requirements of Islamic finance partners

  • Build effective dialogue and partnerships within the global development community and Islamic finance stakeholders

  • Outline which program design and policy requirements may be needed to engage with Islamic finance

  • Identify projects and develop policies related to the Sustainable Development Goals that accommodate requirements pertaining to Islamic finance

  • Develop blended finance solutions combining Islamic social and commercial finance instruments with technology and innovation

  • Explore how Islamic finance instruments and institutions can be utilized to support the Sustainable Development Goals through real-world case studies

Module 1 Introduction

Module 2 The Sustainable Development Goals and the Role of Islamic Finance

  • Lesson 1 The Sustainable Development Goals and Financing the 2030 Agenda
  • Lesson 2 Islamic Finance: An Ethical Proposition for Sustainable Development
  • Lesson 3 The Islamic Finance Principles and Their Link with the Sustainable Development Goals
  • Case Study An Interest-Free Microfinance Institution: Akhuwat Pakistan
  • Case Study Charity-Based Microfinance: Islamic Relief Worldwide

Module 3 Modes and Institutions of Islamic Finance

  • Lesson 1 Islamic Commercial Finance Instruments
  • Lesson 2 Islamic Social Finance Instruments and Institutions for Economic and Social Empowerment
  • Lesson 3 Islamic Social Finance: Unlocking the Potential in Humanitarian Crises
  • Lesson 4 The Governance Structure and Principles in Islamic Commercial and Social Finance Sectors
  • Case Study Integrating Sustainability into Banking: CIMB Malaysia
  • Case Study A Bank-Led Startup Accelerator: Albaraka Garaj
  • Case Study Channeling Microfinance Through a Commercial Bank: Islami Bank Bangladesh Limited (IBBL)
  • Case Study A Digitalized Islamic Cooperative Institution: KSPPS BMT Bahtera in Indonesia

Module 4 Impact Investing and Islamic Finance

  • Lesson 1 Financial Mechanisms for Private Sector Engagement in Sustainable Development
  • Lesson 2 Blending Islamic Finance and Impact Investing
  • Lesson 3 Impact Measurement and Management
  • Case Study Blending Islamic Finance and Impact Investing: The Global Islamic Finance and Impact Investing Platform (GIFIIP)

Module 5 Perspectives for Multilateral Organizations in Engaging with Islamic Finance

  • Lesson 1 Engaging with Islamic Finance Within the Policy Frameworks of Development Organizations
  • Lesson 2 Financial Development with Risk-Sharing: An Islamic Finance Framework
  • Lesson 3 Development Finance Framework and Infrastructure Institution: Islamic Development Bank (IsDB)
  • Case Study Unlocking Zakat to Help Communities: UNDP Indonesia
  • Case Study Activating Waqf for Sustainable Development: Awqaf Properties Investment Fund (APIF)
  • Case Study Pioneering Green Sukuk: The Technical Assistance of the World Bank in Malaysia
  • Case Study Pioneering Green Sukuk: The Technical Assistance of UNDP in Indonesia

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