Islamic finance assets to reach $7.5t by 2028

Bank accounts make up 70% of the total assets.

Global Islamic finance assets are set to reach $7.5t by 2028, according to estimates by Standard Chartered.

In 2024, the Islamic finance industry surpassed $5t in global assets, a 12% rise from the previous year, and 43% higher than it was in 2020.

The sukuk market is notably expected to expand from $971b to $1.5t between 2024 and 2028.

Islamic banking accounts account for 70% of total Islamic finance assets. These ssets are expected to grow to $5.2t by 2028, from $4t in 2024.

“Islamic finance is entering a new era defined by scale, sustainability and strategic integration,” said Khurram Hilkal, CEO of the group Islamic Banking at Standard Chartered.

“The projected 36% increase in assets reflects strong fundamentals and global appetite for ethical and inclusive finance,” Hilkal said.

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Standard Chartered

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