The worlds of Islamic finance and impact investing are growing daily, and rapidly. This report attempts to provide a brief and indicative overview of both universes: conventional impact investing and Islamic financing. The report focuses on relevant topics to provide context for recommendations for ways in which the IICPSD is well-suited to act as leader.

For the purposes of this report, emphasis was placed on the IICPSD’s goals of fostering private sector development. The overall strategy for this scope of work involves 4 main parts, divided into 8 sections. In section 4, indicative recommendations are made for IICPSD to consider to promote and grow the area of convergence to create dialogue around Islamic impact investing.

These four main parts include:

• Background on and outlining the universe of impact investing

• Providing context for Sharia investments

• Identifying areas of current overlap

• Devising strategies to grow the area of overlap.