We have previously explored the links between social finance and Islamic finance; here, we explore Islamic finance claims of social impact. Part 1 examines the model; Part 2 lists a few examples of Islamic finance being used to produce social benefits. What is the scale of social benefits of Islamic finance? Can conventional social finance learn anything from its principles?
I recently attended the 2011 Social Finance Forum, organized by the newly minted MaRS Centre for Impact Investing. A worthy event, to be sure, it provided me with much to ponder while offering a fascinating snapshot of this at-times-dynamic-at-other-times-stagnant social finance space.
I remember reading the story about the unique partnership that created Grameen Danone in Building Social Business by Muhammad Yunus - and that set off fireworks in my head! Inspired by these joint-venture possibilities, I looked at what we were doing at DreamFund Holdings and explored innovative hybrid business and investment models we could leverage to address our most pressing social issues with market-based solutions. We call them DreamFunds.
While we all eagerly await the materialization of recommendations made by the Canadian Taskforce on Social Finance to unlock more investment into this space, our social issues are mounting and our social entrepreneurs find themselves stuck in the missing middle.
Join 1200 people from over 70 countries in Montreal , October 17th -20th who are activating the social and solidarity economy across Canada and globally. Fiess2011, the International Forum on the Social and Solidarity Economy, brings together those who collaborate with different levels of government to effect public policy for the benefit of the social economy.
International conferences such as fiess2011 are our opportunity to examine emerging and established models that feed our curiosity and ignite ideas for adaptation in Canada.
Mission Based Investing and Social Capital have been receiving a lot of press and interest lately. According to data collected by the Canadian Social Investment Organization (SIO), there is a total of $4.45 billion in impact investing assets available in Canada. The Canadian Task Force on Social Finance recommended that foundations invest 10% of their assets in impact and mission-related activities. Before we can move from broad statements and recommendations to actual practice, however, we need to firstly ensure that we are talking the same language, understand the sector’s constraints, define desired outcomes, and agree on the players and their roles. In order to do this, 5 key questions need to be answered.
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Your Guide helps social entrepreneurs learn how to attract financing for their social ventures.
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Your Guide to Social Finance
SocialFinance.ca hosts an online guide that helps social entrepreneurs learn how to attract financing for their social ventures.
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