Moody’s: Islamic Finance Industry to Grow in 2020 and Beyond
April 01, 2020
Email Moody’s Investors Service (Moody’s) is of the view that the global Islamic finance market will continue to grow in 2020 and thereafter, backed by performance from the GCC countries, as well as Malaysia, with both regions expected to drive growth in Shariah-compliant financial products.
Nitish Bhojnagarwala, VP-Senior Credit Officer at Moody’s, stated that although the downside risks are high due to the prolonged impacts of COVID-19, Moody’s expected global Sukuk issuance to remain stable at USD 180 billion in 2020. He added that global Takaful markets are forecast to witness steady growth, driven by a pick-up in insurance premiums in newly penetrated markets.
