Dubai: Islamic Finance and Wealth Management industry has remained resilient amidst the pandemic according to a study by Alpen Capital (ME) Limited and Alpen Asset Advisors Limited that analyses the impact of the pandemic on the sector.
“Islamic finance and wealth management industry faced the dual shocks of adjusting to the pandemic and historically low oil prices in 2020. While the industry slowed down during the year after experiencing record growth in 2019, it showed resilience and total Islamic finance assets in 2020 are estimated to match the previous year s figures,” said Sameena Ahmad, Managing Director, Alpen Capital (ME) Ltd.
Factors like growing Muslim population seeking Shariah-compliant financial instruments, rising adoption of technology and the industry’s ability to demonstrate a higher level of ethical credibility have been driving growth.
Islamic Finance and Wealth Management industry remains resilient
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Islamic finance, wealth management remain resilient amidst pandemic
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