null Tailoring Islamic finance for a sustainable future
Tailoring Islamic finance for a sustainable future
10 Sep 2021 | Friday Source: Zawya
Sustainable financing and Islamic finance are two of the fastest growing areas of the global financial market and given the close correlation of Shariah finance with environmental and social concerns there is huge potential for sustainable Islamic finance to grow at an equally rapid pace over coming decades.
Global Islamic finance assets are forecast to reach $4.83 trillion in 2025, a rise of 119% from a decade earlier, according to Refinitiv. Growth in sustainable finance has been even more spectacular. As of 2021, $35.3 trillion in assets was being professionally managed globally, an increase of 54% from $22.9 trillion in 2016, according to Global Sustainable Investment Alliance (GSIA) figures, with assets having risen 15% over 2020-21 alone. GSIA reported in July 2021 that professionally managed assets using a broad gauge of what is meant by sustainable investment accounted for 36% of total assets under management.
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