This year, Islamic finance has made significant strides, with sukuk issuances reaching record highs and the market expanding into green and sustainable finance. With the industry on track to hit $6 trillion by 2027, its growth is undeniable.

However, challenges persist. Rising compliance costs, the push for harmonisation, and the introduction of AAOIFI’s Sharia Standard 62 are poised to reshape the industry.

In our 47th episode, we’re joined by Mohamed Damak, Global Head of Islamic Finance at S&P Global Ratings.

In this episode, we covered several topics including:

Opportunities and challenges facing Islamic finance
The potential market impact of AAOIFI Sharia Standard 62
Whether digital sukuk can provide an alternative

S&P Islamic finance page-https://www.spglobal.com/ratings/en/sector/financial-institutions/islamic-finance

Email us: hassan@majlisandmarkets.com

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Intro theme song-Desert Meditation by omar sahel via Pixabay

Episode 47-Islamic Finance Decoded: Growth and Gaps