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Islamic finance took a hit in 2020 but is preparing for the next surge of growth through innovation, standardization, and M&A activity.
December 28, 2020
The Islamic finance industry slowed down significantly in 2020 after experiencing a very strong 13% growth rate in 2019. Islamic financial institutions spent most of the year coping with the dual shocks of adjusting to the COVID-19 pandemic and historically low oil prices. According to the latest
State of Global Islamic Economy report, total Islamic finance assets stood at $2.88 trillion by the end of 2020, matching last year s figures.
Fortunately there is light at the end of the tunnel. Growth is expected to bounce back and total ....

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