Islamic finance assets have grown in double-digits over the last year.
Despite uneven recovery, lower interest rates and stressed supply chains worldwide, we've seen Islamic financial assets experience double-digit growth in the industry over the last year. The report not only investigates the different asset classes of the industry, but it also looks into the industry’s overall ecosystem as well. The report is based on five indicators considered to be the main drivers of development in the industry. These are: Quantitative Development, Knowledge, Governance, Corporate Social Responsibility, and Awareness.
While traditional leaders in Islamic finance have seen a slight decline during the pandemic, Sukuk as well as Islamic FinTech were among the standout performers in 2020 as regulators have moved fast to facilitate Islamic fintech players & digital banking after years of ‘sandboxing’ and building foundations.
Access the full report to find out:
- What have been the key drivers for growth in the industry
- The projects that top-ranking Islamic Development countries have undertaken to cement their places as pioneers in Islamic Finance.
- The sectors in which we anticipate the Islamic finance industry to grow further into.
135The IFDI covers 135 Countries
$3.374 trillionGlobal assets for the industry grew to $3.374 trillion in 2020
8%Islamic finance is anticipated to an 8% average yearly growth until 2025 (to $4.95 trillion)
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The Islamic finance industry continues to attract new players and evolve its products and services to become a more active participant in the world's march towards achieving climate goals. The key Islamic finance jurisdictions are focused on sustainability and ESG policies and initiatives. Looking back at 2020, Malaysia, Indonesia, and Saudi Arabia were notable actors as they continued leveraging sukuks to finance social and green projects.
The Islamic finance industry grew by 14% in 2020
Islamic finance is anticipated to an 8% average yearly growth until 2025 (to $4.95 trillion)
1 595 Islamic Financial Institutions were accounted for in 2020.