Islamic finance aligns naturally with ESG, says Maybank’s first-ever chief sustainability officer
The amount raised for sustainable finance within the 57 countries of the Organization of Islamic Cooperation jumped from $17.8 billion in 2017 to $82.3 billion in 2024, according to a 2025 report from the World Bank.
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Islamic finance covers roughly $2.8 trillion in assets worldwide, yet only a sliver of sustainable loans today are Shariah-compliant. But Datuk Shahril Azuar Jimin, Maybank’s chief sustainability officer, thinks that gap should be easy to fill. Recommended Video “Islamic finance and sustainable finance are both values-based systems,” Shahril tells Fortune. “Islamic finance emphasizes social justice, welfare, and the avoidance of harm, and these three principles align naturally with ESG and sustainability.” Banks across the Middle East and Southeast Asia are embracing Islamic finance in order to better serve Muslim populations.
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