ROLE OF ISLAMIC SOCIAL FINANCE IN SUSTAINABLE DEVELOPMENT GOAL
29 January 2021
In the past two decades, Muslim Foundation for Cultural and Development (MFCD) has successfully handled many charitable projects contributing to disaster risk reduction and towards achieving the sustainable development goals – all aimed to ensure better health and wellbeing, economic prosperity, and environmental protection of the community at large.
Equipped with this wealth of experience and honored with this proven track record, MFCD is now intending to embark on a new social structure of a “Zakat Fund” under the aegis of Islamic Social Finance Institutions where Zakat can be institutionalized in an organized and productive manner through which most of poverty alleviation programs can be implemented.
In our local Sri Lankan context, many economically impoverished Muslim families have the skill and entrepreneurial spirit to run self-employment businesses and start-ups on their own. However, due to lack of funds, they waste and whittle away their untapped talents. The Zakat project will empower them to set up a lucrative and valuable self-employment scheme that would be beneficial for themselves and their families.