Islamic Finance

The State of the Global Islamic Economy Report 2019/20 estimates that the value of assets in the Islamic finance sector in 2018 totalled US$2.5 trillion, and expects this amount to surge to US$3.4 trillion by 2024.

Due to the promising outlook and its crucial role in driving the growth of the wider Islamic economy, Islamic finance is the first economic pillar of the DIEDC Strategy. In this context, DIEDC coordinates efforts to develop the Islamic finance and banking sector through expanding the customer base and introducing new offerings that address contemporary needs.

This includes the promotion of sukuk as a key financing tool and a viable alternative to conventional bonds that continues to thrive – one of the key milestones for 2018 was the world’s first blockchain sukuk transaction, executed by Al Hilal Bank.

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