Aligning the Financial System with Sustainable Development

The Opportunity

The global ethical finance industry constitutes approximately USD 22.89 trillion worth of assets under management, an increase of 25% from 2014. However, this is seen in institutions and assets within developed markets.

Ethical finance is on track to developing its global value proposition. However, catalyzing the wider adoption requires concerted efforts to build meaningful dialogue between the two main areas of ethical finance: one segment that integrates environmental, social and governance (ESG) factors, and Islamic finance which is expected to rise from USD 2 trillion to USD 3.5 trillion by 2021.

There is a unique opportunity for ethical finance players in developed markets to connect with the Islamic/faith-based financial sector which enjoys a strong foothold in Muslim-majority emerging markets.

Our Host: The Scottish Government

The forum will take place under the patronage of the Scottish Government.
There are a host of reasons why Scotland is the ideal destination for hosting the historic talks across ethical finance divides:


Strong heritage in ethical finance dating back to the development of savings banks by Rev. Henry Duncan and the creation of financial institutions such as Scottish Widows


The development of the mutual assurance industry, in which Scottish firms were amongst the early pioneers with this model being used as the blueprint for the early Islamic banking attempts in the 1960s

Notable recent developments in Scotland include:

  •   The launch of the Scottish Ethical Finance Hub (SEFH) to aid SMEs seeking ethical financing
  •   The active role of the Commissioner for Ethical Standards in Public Life and the Scottish Goldsmith Trust in encouraging sustainability
  •    Glasgow-based UKIFC winning the Ethical Finance Innovation and Challenge Award in the UAE
  •   The launch of the world’s first interfaith joint financial services initiative between Muslims and Christians
  •    Al Rayan Bank opening its first Scottish office