Under Indonesia’s recently announced Sharia Economy Masterplan and Indonesia Halal Economy and Strategy Roadmap 2018/19, the RFI Foundation and Indonesia Halal Lifestyle Center (IHLC) have signed a memorandum of understanding that will pave the way for the development of Islamic finance in Indonesia and incorporation of responsible finance principles through environmental, social and governance (ESG) integration.

The RFI Foundation is a non-profit organisation that states it, “evolves Sustainable, SRI, ESG and Islamic finance sectors towards a convergence of their shared standards”.

The ability to integrate Islamic finance means that it potentially opens up more geographically wide areas to sustainable finance.

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