Unlocking the Potential of Zakat and Other Forms of Islamic Finance to Achieve the SDGs in Indonesia
Indonesia’s economy is growing and the country’s citizens are well known for their generosity, especially for religious giving—including zakat and waqf. Indonesia has an unparalleled opportunity to alleviate poverty and achieve SDGs using the untapped potential of Islamic finance and funds, as funding from the Government and international development partners alone will not be enough. In this regard, zakat and the other forms of Islamic finance (waqf, microfinance, sukuk) offer an important key to achieving the SDGs. The quest for the United Nations Development Programme, Baznas and partners is to bridge that gap by unlocking the abundant resources of the country’s private sector and religious giving.