Record Detail

Introduction

Islamic finance sector is continuing its growth trend over the past decade. Over the period of five years global Islamic financial assets grew by 76% and over the past decade by 163%, from US$ 1.715 trillion in 2021 to US$ 2,564 in 2017 to US% to US$ 4,508 trillion in 2022 (IFDR, 2023). The largest component within Islamic finance industry is Islamic banking, followed by Sukuk. These two are also the main drivers contributing to the growth of Islamic
finance.