Islamic banking involves activity that is consistent with the principles of sharia law. Sharia prohibits the fixed or floating payment or acceptance of specific interest or fees for loans of money. It is also prohibited to invest in businesses that provide goods or services considered contrary to Islamic principles. Many Islamic banks were formed in the late 20th century. Now Islamic banks are are increasingly looking to support renewable energy including
hydropower, solar and wind energy. Finance is a crucially important
component of building a green infrastructure and this is especially true
in the context of economic difficulty and political volatility we are seeing in the Middle East and North Africa (MENA).
