Muslim leaders and faith-based finance providers will meet in London next month to discuss how more of the USD $3.9 trillion in Islamic finance can be used for impact investment. Islamic finance is currently largely absent from the social investment space, according to Innovative Finance, who is organizing the event centered around mobilizing Islamic finance.

Innovative Finance’s mission is to support technology-led innovators and accelerate the UK’s role in the financial services sector.

Commenting on the event, to be held on 29 September in an undisclosed location, Innovative Finance said:

‘Despite growing interest in ethical investing, Islamic impact investing remains underdeveloped, showing the importance of mobilizing Islamic finance.

Reorienting Islamic Finance to Meet the SDGs

'Most Muslim-majority institutions continue to rely on traditional philanthropy and passive investment products, leaving a widening chasm between faith-driven capital and urgent community needs.'

They continued, discussing the opportunity to mobilize Islamic finance: ‘This presents a clear opportunity: to reorient Islamic finance toward real-economy solutions aligned with Maqasid al-Shariah (higher objectives of Islamic law) and the UN Sustainable Development Goals, and to provide the legal and financial infrastructure to enable this transformation.’

Globally, there are about $128 trillion in assets under management according to the Global Asset Management survey in 2025. The Global Impact Investors Network says about $1.57 of that is in impact investments.

Advancing Equality and Inclusion

The event will gather institutional and private investors, Islamic and faith-based finance providers, endowments, wqqf and zakat administrators, nonprofits and social enterprises, academics and students, policy makers, community leaders and large Muslim institutions. 

Keynote speeches will address reorienting of Islamic finance with impact, purpose-driven vehicles and funding SMEs in order to meet the UN Sustainable Development Goals. 

Omar Sheikh, currently managing director of the Global Ethical Finance Initiative (GEFI), will give a keynote. He has worked with governments and regulators in a number of countries to advise on enabling policy and regulatory frameworks for Islamic finance.

Read the full article about mobilizing Islamic finance by Claudia Cahalane at Alliance Magazine.