Islamic Social Finance Report 2020
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Author : Islamic Research and Training Institute - IRTI

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Islamic Finance

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The Islamic Social Finance Report (ISFR) 2020 focuses on the potential of Islamic social finance tools in reducing poverty levels and achieving other Sustainable Development Goals in the Maghreb Region. It covers the Islamic social finance sector in five north-west African countries, namely Algeria, Libya, Mauritania, Morocco, and Tunisia.
The report reveals that the Islamic social finance sector, comprising of zakah, awqaf (Islamic endowments), and Islamic microfinance, has huge potential that remains largely untapped in the region.
It finds that the existence of dedicated laws of zakah and awqaf in countries like Algeria, Libya and Morocco has had significant positive impact on mainstreaming of the sectors. Therefore, the report recommends similar action in Mauritania and Tunisia, where draft laws have already been prepared based on positive recommendations of numerous studies over the years.
This report is a result of IRTI’s multi-year flagship initiative to address the knowledge and information gap pertaining to the zakah, awqaf and other not-for-profit sectors in member countries of the Islamic Development Bank (IsDB).
ISFR 2020 is the fourth in the series of ISFRs published by IRTI. The first report focused on the South and South-East Asia region, the second report on sub-Saharan African region, and the third on Central Asia, Balkans and the Russian Federation.

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