Islamic Finance: Green Sukuk, Zakat & Sadaqah Can Support Nigeria in Achieving 17 SDGs 2030 Agenda - Prof. Busari Akande
Islamic finance, as one of the fastest growing sectors in the global financial industry, provides a unique opportunity for innovative solutions.
Experts indicate that Islamic finance assets are expected to reach $3.8 trillion in 2022. With their emphasis on inclusiveness and broad understanding of business society relations, Islamic finance principles are highly aligned with the Sustainable Development Goals, SDGs, and forging new partnerships in this area will be essential to providing the much-needed reinforcements to finance and implement the 2030 Agenda.
This edition of the Islamic Finance Weekly anchored by Bukola Akinyele features Professor Busari S. Akande the Director West African Operations at Chartered Institute of Management and Leadership United State of America and Founder of the first Islamic Institute Of Accounting and Finance in Ilorin Kwara Nigeria, as he explores the topic "Islamic Finance, Education and Sustainable Development in Nigeria".
The scholar believed Islamic Finance has the potential to serve as a veritable platform for supporting Nigeria in its quest to achieve the Sustainable Development Goals, SDGs by 2030.
He said, with the globe turning to climate change, instruments like Green Sukuk is innovative and can fit into the sustainable development strategy of the Nigerian government.
Also, the Green Sukuk can provide financing and support for the "Solar Energy Project" which is part of the key initiatives in the Economic Sustainability Plan and constitutes 1 out of the 17 agenda goals of the SDGs.
Other instruments like Zakat can help to reduce poverty, while Sadaqah can be used to provide good health and promote the wellbeing of people in the communities, with quality education and gender equality which Islamic finance can assist in the area of achieving the SDGs.