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Global Islamic finance assets expected to hit $3.69 trillion in 2024: Report


10 December 2020 15:09
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JEDDAH. KAZINFORM Global Islamic Finance assets are forecast to reach USD 3.69 trillion by 2024, according to the 2020 Islamic Finance Development Report released today by Refinitiv and the Islamic Corporation for the Development of the Private Sector, ICD, the private sector development arm of the Islamic Development Bank, IsDB.
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According to the report, global Islamic Finance assets increased by 14 percent year-on-year totaling USD 2.88 trillion in 2019. Islamic Finance assets of Gulf Cooperation Council, GCC, reached USD 1.2 trillion in 2019, followed by Middle East and North Africa, MENA, at USD 755 billion (excluding the GCC), and Southeast Asia at USD 685 billion, WAM reports. ....

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Islamic spend to boom


Islamic spend to boom
The UAE is among top three countries in Global Islamic Economy Indicator 2020-2021.
Wam
The Islamic banking sector contributes the bulk of the global Islamic finance assets.
Propelled by a vibrant Islamic banking sector, global Islamic finance assets are forecast to reach $3.69 trillion by 2024, according to 2020 Islamic Finance Development Report.
The report, released by Refinitiv and the Islamic Corporation for the Development of the Private Sector (ICD), said global Islamic finance assets increased by 14 per cent year-on-year totalling $2.88 trillion in 2019.
With a $1.2 trillion in Islamic finance assets, the GCC accounted for a large share of the global total, followed by the Middle East and North Africa, excluding the GCC, at $755 billion, and Southeast Asia at $685 billion ....

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