Development Trends of Islamic Finance Worldwide
Keywords:
Islamic finance, industry growth, total assets, resilience, sectors, Islamic banking, Sukuk, Islamic funds.Abstract
The Islamic finance industry resiliently grew by 17% in 2021, reaching nearly US$4 trillion in total assets. The growth was evident across sectors including Islamic banking, Sukuk, Islamic funds, and other financial institutions. Notably, Islamic banking, comprising 70% of assets, expanded due to government support, operational efficiency, and strong demand. Net income surged by 290%, while average return on assets also increased. The rise of fully digital Islamic banks globally and responses to the LIBOR transition, such as Malaysia's MYOR-i and Oman's Islamic money market instruments, highlighted industry innovation. Efforts to enhance sustainability, governance, knowledge, and awareness through the Islamic Finance Development Indicator (IFDI) underscore industry progress, positioning Islamic finance for continued growth and innovation.
References
Зарипов И.А. Малайзия – флагман исламских финансов // Вестник финансового университета. 2016. №4. с. 118-129;
Р.И.Беккин. Исламская экономическая модель и современность. – 2-e изд., перераб. и доп. – М.: Изд. дом Марджани, 2010. – 367 с.
Султанов М. Ўзбекистонда инвестиция фондларини ривожлантириш истиқболлари. Иқтисодиёт фанлари бўйича фалсафа доктори (PhD) автореферати. -Т.: ТДИУ, 2019. 58 б.;
Zulkhibri M. (2015). A synthesis of theoretical and empirical research on sukuk. Borsa Istanbul Review, 15, p. 240. doi: 10.1016/j.bir.2015.10.001
Ibrahim, Y., & Minai, M. S. (2009). Islamic bonds and the wealth effects: evidence from Malaysia. Investment Management and Financial Innovations, 6(1), pp. 184–191. Retrieved from
Ahmad N., Daud S.N., & Kefelia Z. (2012). Economic forces and the sukuk market. Procedia: Social and Behavioral Sciences, 65, pp. 127–133. doi: 10.1016/j.sbspro.2012.11.101
Said A., & Grassa R. (2013). The determinants of sukuk market development: does macroeconomic factors influence the construction of certain structure of sukuk? Journal of Applied Finance and Banking, 3(5), pp. 251–267. Retrieved from
Echchabi A., Abd.aziz H., Idriss U., 2016. Does sukuk financing promote economic growth? An emphasis on the major issuing countries. Turk. J. Islam. Econ. 3, pp. 63–73. doi: 10.15238/tujise.2016.3.2.63-73
IIFM Sukuk report: A comprehensive study of the global sukuk market. International Islamic Financial Market, August 2022, 11th edition. p202.
ICD – REFINITIV ISLAMIC FINANCE DEVELOPMENT REPORT 2022: EMBRACING CHANGE
Аброров, Сирожиддин, and Нуриддин Қорабоев. "Қимматли қоғозлар бозорида сукукнинг ролига оид илмий-назарий мулоҳазалар ва унинг ўзига хос жиҳатлари." Economics and education 1 (2020): 126-130.
Аброров, Сирожиддин. "СУКУК–ИСЛОМИЙ ҚИММАТЛИ ҚОҒОЗЛАР РИВОЖЛАНИШИНИНГ 2021 ЙИЛ ЯКУНЛАРИГА КЎРА ТАҲЛИЛИ." Economics and education 23.6 (2022): 258-263.
Аброров, С. (2023). Banklar faoliyatida xulq-atvor iqtsodiyotining ahamiyati. Economics and Innovative Technologies, 11(3), 12-20.
Abrorov, S. (2023). JAHON MOLIYA BOZORIDA MUOMALADAGI SUKUKLAR TAHLILI. " Milliy iqtisodiyotni isloh qilish va barqaror rivojlantirish istiqbollari" respublika ilmiy-amaliy konferensiyasi materiallari to ‘plami., 142-144.
Abrorov, S. (2023). SUKUK BOZORINI RIVOJLANTIRISH BO ‘YICHA XORIJIY MAMLAKATLARNING ILG ‘OR TAJRIBALARI. Iqtisodiy taraqqiyot va tahlil, 1(1), 13-20.
Downloads
Published
How to Cite
Issue
Section
License
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
