Advancing nature and biodiversity financing in the MENA region: The role of Islamic financing

Abstract

The aim of this chapter is to evaluate the potential role of Islamic finance as a tool for bridging the gap in current biodiversity financing in the MENA region. It examines the legal and institutional challenges to Islamic biodiversity financing in the MENA region and proffers recommendations on how to address them. This chapter examines the legal framework for advancing Islamic financing for biodiversity in the MENA region. It clarifies the role of Islamic financing approaches in addressing the resources gap, the legal barriers to its effective implementation across the MENA region, and recommendations on how to address such gaps.