This article was first published in Islamic Finance news Volume 16 Issue 29 dated the 24th July 2019.
Aliredha Walji, Vice President, USA, contributed an article to Islamic Finance news highlighting Islamic Finance and Ethical Trends.
In all parts of the world, people are increasingly interested in purchasing and consuming ethically-sourced products. This trend holds true across diverse sectors, from food and consumer products to financial services to media and recreation.
According to Global Impact Investing Network, three out of four millennials are willing to pay extra for sustainable off erings, and ‘impact-investing’ assets are estimated at US$114 billion as of 2016, according to the State of the Global Islamic Economy Report 2018/19 by Thomson Reuters/Dinar Standard. The US market is no exception, with a very loyal consumer base for ethical offerings. Over 80% of US consumers of socially responsible business brands are willing to pay a greater than 30% premium and are willing to repeat their purchases more than three times when heir needs are met, according to Adnan Durrani, the founder and CEO of American Halal.