Islamic Funds Market Across the Globe Sees 300% Growth in the Last 10 Years

According to a report dated 26th of January 2022 by the Bahrain-based General Council for Islamic Banks and Financial Institutions (CIBAFI), the Islamic funds market globally nearly reached USD 200 billion in assets under management (AUM), seeing a 300% growth in the last ten years despite the COVID-19 pandemic.

Why it Matters?

The growing demand for Environmental, Social, and Governance (ESG) investments invites a vast potential for the Islamic Financial Services Industry (IFSI) to play its significant role in the years ahead. A number of 345 Islamic financial institutions across 29 countries operate 1,508 Islamic funds globally. In the long run, Islamic funds’ regulations and adoption of regulatory standards, Shariah governance, lack of Shariah-...