Moody’s: Islamic finance to continue growing in 2022 as economic recovery accelerates

Islamic finance will continue to grow in 2022 as economic recovery accelerates, particularly in the Gulf Cooperation Council (GCC) region, Moody’s Investors Service said.

Its vice president-senior analyst Ashraf Madani said the economic recovery in key Islamic finance markets will boost credit growth and demand for Shariah-compliant products and it expects Islamic banks’ asset growth to continue to outperform their conventional peers.

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