An Islamic financial expert and member, Shari’iah Committee of the International Islamic Liquidity Management Corporation, Malaysia, Dr Bashir Aliyu Umar has said that Islamic finance can contribute to the achievement of the Sustainable Development Goals (SDGs) if properly practised.
He made the disclosure today, Sunday, December 23 at the Day 2 session of the ongoing 6th edition of the Guild of Muslim Professionals (GMP) Convention in Lagos.
In his presentation, titled: The Nexus of Ethical Financing and Economic Development, Dr Umar stated that the Islamic microfinance practice has helped in achieving seven out of the 17 SDGs.
According to him, Islamic finance has helped many homes end poverty in all its forms. It has also alleviated hunger, achieved food security, improved nutrition and promoted sustainable agriculture.
“It helps in engendering good health, well-being, and gender equality, while promoting peace, justice and strong institutions, among others.”
Dr Umar also emphasised on Zakat and Waqf (endowment), which he said play a vital role in social protection and alleviating poverty in a dignified manner, while also leading to wider social and financial inclusion.
Dr Umar, who is the Director/Chief Executive Officer of the National Cereals Research Institute, Badeggi, Niger State congratulated the Guild for its efforts at contributing to the attainment of transformational leadership in our society.
He said GMP is working towards the realisation of the Maqasid Al-Shari’iah, which are the general objectives and higher goals of the Shari’iah.
At the end of the session, Dr Umar was presented with a plaque by the convener, who also appreciated him for the powerful and eye-opening presentation.
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