Sunday, 09 May 2021 05:30 GMT

Global Islamic finance to rise by 10 to 12 percent

( MENAFN )According to S&P Global report, Global Islamic finance is estimated to increase by 10 to 12 percent over the coming year on the back of stronger sukuk issuances and remained industry standardization.

S&P further stated that Financing growth in Saudi Arabia will remain strong, promoted by mortgages and corporate lending. It also declared that the company estimates some improvement in Qatar supported by investments attributed to the upcoming World Cup, “and to a lesser extent the UAE where the Dubai Expo is likely to help boost economic activity.”

A potential increase in the issuance of social Islamic finance instruments and green sukuk is noticed, as companies turn into more conscious of their environmental, social, and governance (ESG) values.

The Jeddah-based Islamic Development Bank marked a USD1.5 billion sustainable sukuk in last year and another USD2.5 billion instrument in current year.

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