DUBAI: Global Islamic finance is expected to grow by 10 to 12 percent over the next year on the back of stronger sukuk issuances and continued industry standardization, S&P Global said in a report.
Financing growth in Saudi Arabia will remain strong, S&P said, fueled by mortgages and corporate lending. It also expects some growth in Qatar supported by investments related to the upcoming World Cup, “and to a lesser extent the UAE where the Dubai Expo is likely to help boost economic activity,” it added.
The report also noted a potential rise in the issuance of social Islamic finance instruments and green sukuk, as companies become more conscious of their environmental, social, and governance (ESG) values.