Sukuk Issuances and Industry Standardisation to See Global Islamic Finance Expand 10-12% Over 2021-2022: S&P

According to a recent report titled ‘Islamic Finance 2021-2022: Toward Sustainable Growth’ by Standard & Poor’s Global Ratings (S&P), the global Islamic finance industry, which is worth around USD 2.2 trillion, is expected to grow 10-12% over 2021-2022 on the back of increased Sukuk issuance and modest economic recovery in key Islamic finance markets.

Why it Matters?

Despite COVID-19, the industry continued its growth path in 2020, although at a slower pace than in 2019. S&P notes that the next 12 months could see progress in terms of a unified global legal and regulatory framework for Islamic finance to be issued by the Dubai Islamic Economy Development Center and its partners, which could aid in the resolution of the la...