Aamir Rehman United Nations Development Programme IFSB Summit - PowerPoint PPT Presentation

Aamir Rehman United Nations Development Programme IFSB Summit Jakarta November 14, 2019

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of the world’s available data was created in the last two years alone! Source: Harnessing Digitization in the Financing of the SDGs, Task Force on Digital Financing of the SDGs, June 2019 3

 UN Secretary-General launched the Task Force of Digital Financing of the SDGs in November 2018  Task force has 17 members from public sector, private sector, and the UN system  UNDP’s Administrator serves as C— Chair of the Task Force  The body seeks “to understand and anticipate how the profound changes at the intersection of finance, technology, and sustainability are going to determine the action of both governments and market actors.” 4

Empowerment through better, cheaper, Information and more accessible information The rise of new platforms that draw on Platforms digital data and opportunities Greater control by citizens of their Control financial lives Source: Harnessing Digitization in the Financing of the SDGs, Task Force on Digital Financing of the SDGs, June 2019

1. Identifying major areas of opportunity 2. Supporting governance innovations 3. Building national and regional capabilities 4. Pinpointing needs and occasions for international cooperation 5. Measuring progress Source: Harnessing Digitization in the Financing of the SDGs, Task Force on Digital Financing of the SDGs, June 2019 6

Digital Finance SDG Application to Islamic Finance Stakeholders UNDP Tools (partial list) Priority Identifying major areas of Commercial finance: digital banking, micro-savings, UNDP Innovative Fianance initiatives; opportunity microfinance, crowd funding, micro-takaful, etc. AltFin Labs; Global Islamic Finance and Impact Investing Platform (GIFIIP) Social finance: Zakat, Awqaf, Sadaqah Supporting governance IFSB Engagement with IFSB innovations National governance bodies Support of BAZNAS Zakat and Waqf governance MoU with World Zakat Forum Building national and Central banks, capital markets authorities, Zakat Technical assistance and policy support regional capabilities agencies, Waqf authorities, etc. Pinpointing needs and Collaboration on specific projects and industry bodies UNDP partnership with IsDB; MoU with occasions for international like IFSB World Zakat Forum; event with CIBAFI cooperation Measuring progress Opportunity for national actors and industry bodies to UNDP SDG Impact capabilities identify and track metrics 7

Aamir A. Rehman aamir.rehman@undp.org