Islamabad : The conference theme was, moving to social, ethical and responsible finance by the Islamic banking and finance institutions (IBFIs).
The current banking and finance systems have transferred the wealth to the financial sector operating based on interest and trading in absolute risk. In the backdrop of the failure of the MDGs, the United Nations moved to Value-based Intermediation (VBI) and social finance with sustainable development goals (SDGs).
The UN’s 2030 agenda seeks to achieve 17 vital SDGs and 169 specific targets, encompassing the social, economic and environmental dimensions of development. The SDGs’ agenda for human dignity, and to leave no one behind’, is certainly in line with the principles and objectives of development from the Islamic perspective.
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