Islamic financing instruments can put the S in ESG, says S&P Global Ratings – covered by specialist press

As COVID-19, and the measures implemented to slow its spread, continues to impact economies around the globe, the link between Islamic finance and the social aspect of environmental, social, and governance (ESG)-focused investing are coming to the fore, according to S&P Global Ratings.

While the similarities between Islamic finance and the environmental and governance aspects of ESG have long been recognised, the social aspect of Islamic finance has until now been somewhat secondary. Now, with COVID-19 hampering core Islamic finance markets – and unemployment rates rising – the Islamic finance industry has been exploring the possibility mitigating the damage with social instruments.

S&P Global Ratings believes Islamic finance social instruments can support core Islamic countries, banks, and corporates in navigating today’s uncertain economic landscape.

Following outreach by Moorgate, the report was covered by The Peninsula Qatar, ZAWYA, Khaleej Times, Al Bawaba, Trade Arabia, Gulf News, Gulf Times, MENA FN, Al Khaleej Today, and Pakistan Observer