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.
