BAKU, Azerbaijan, June 18. Sukuk is an
instrument of sustainable finance, Abdurabbih Abdus, Chief
Financial Officer of the Islamic Development Bank (IsDB) Group,
stated during an event themed "Labeled Sukuk — The Next Stage of
Development" held within the framework of the IsDB Group Annual
Meeting in Baku, Trend's correspondent reports from the event.
"Sustainable development is impossible without sustainable
finance. The practice of using sukuk has proven that at their core,
they are instruments of sustainable finance, as negative screening
excludes any financing that could harm people and the planet.
Therefore, sukuk serve as the primary tool for the IsDB and many
other organizations, as well as sovereign states, to mobilize
resources for sustainable development. In the same vein,
labor-sukuk offer special conditions that can be utilized by
investors of all types and with any investment mandates," he
said.
Abdus also expressed hope that the presented ideas and
recommendations would bring maximum benefit to the participants and
contribute to the further development of sustainable finance.
