Islamic Finance for the Sustainable Development Goals (edX)

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.
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

Syllabus

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