Published Paper Details:

Islamic finance, based on the bedrock of Shariah principles of equality and justice, is emerging as the key player in the global push in formulating Innovative strategies for a sustainable and inclusive global future. Innovative strategies which include the development of Shariah compliant Islamic bonds, known as 'Sukuk', used primarily to finance renewable energy projects, water management systems and importantly sustainable agriculture. Sukuk - Islamic bonds, have gained ground as they address urgent climate challenges and align financial investment with environmental caring and protection of natural resources and its careful usage. Islamic microfinance and Islamic Insurance - Takaful, find solutions for underprivileged communities. Marginalised populations find a social safe haven and opportunistic facilities in the provisions of Interest free Islamic loans and co-operative risk sharing, providing entrepreneurial channels for overall social growth and Inclusion to be part of the development. A quiet revolution is occurring with technological advancements such as Blockchain and Fintech solutions, which are synergistically elevating the efficacy of Islamic finance by enhancing transparency, reducing costs, and expanding access to Shari'ah-compliant financial services. Innovations like these bring the traditional and digital economies closer for a better Inclusivity. Islamic finance, intrinsically prohibits activities which are harmful to society with its ethical investment strategies, shielding investors from speculation risks and/or making investments in industries banned by principles, like gambling, Alcohol manufacturing for personal consumption, or Weapons manufacturing for mass destruction and more such activities.