Perspectives that drive progress

Learn about innovative marketing strategies tailored for small businesses to stand out, attract customers, and drive growth in competitive markets.

The Islamic finance industry achieved remarkable growth momentum in 2024, with total global assets reaching USD 3.88 trillion, marking a significant 14.9% year-on-year growth¹. This acceleration was driven by broad-based expansion across all three core sectors: Islamic banking assets grew by 17.05%, Islamic insurance by 16.9%, and sukuk issuances surged by 25.6%¹. This positions the industry for continued expansion toward projected market size of USD 7,441.43 billion by 2033².

Global Islamic capital markets are at an inflection point. In 2024 global sukuk issuance surged by 25.6 %, reaching USD 230.4 billion, as the Islamic finance industry recorded double‑digit expansion . Yet the sector remains nascent relative to conventional markets. Islamic capital market innovation—encompassing Islamic real‑estate investment trusts (i‑REITs), Islamic exchange‑traded funds (i‑ETFs), compliant equity platforms and risk‑management tools—offers a pathway to democratise access for both institutional and retail investors. Young Muslim investors and Gen‑Z savers increasingly demand authentic Shariah‑compliant products, while ESG‑oriented investors seek ethical alternatives. Bridging this gap will require new product structures, technology‑enabled platforms, and regulatory collaboration. Early movers can capture a rapidly growing investor base, deepen market liquidity and enhance resilience.

The global banking sector faces an unprecedented opportunity to capture the USD 3.88 trillion Islamic finance market¹ through strategic Islamic banking windows. Conventional banks with established infrastructure and customer relationships can leverage Islamic products as their next significant growth driver, accessing previously untapped market segments while diversifying revenue streams.