Unlocking the full potential of faith based financing

Mauritania faces many challenges, both financial and non-financial, that hinder the achievement of the SDGs. The lack of reliable data on Zakat, the obligatory payment made annually under Islamic law for charitable and religious purposes, limits the government’s capacity to make optimal use of these funds to effectively meet the country’s development objectives. 

The INFF will help create favourable conditions for an effective management system to reduce income gaps and mobilise and direct financial resources towards the most vulnerable. Zakat recipients, including those excluded from the conventional banking system, especially vulnerable women and youth, will be enabled to use the funds to finance their own business projects.

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