The total volume of the global Islamic finance market is expected to reach $5.3 trillion by the end of 2025, with further growth projected to $9 trillion by 2030, Abdelilah Belatik, Secretary-General of the General Council for Islamic Banks and Financial Institutions (CIBAFI), told TASS.
“We expect the total Islamic finance market to reach $5.3 trillion by the end of 2025, with the potential for further growth. For comparison, the market stood at $1 trillion in 2010, and by 2024, it had grown to around $4.5-$4.7 trillion — a fourfold increase in 14 years,” Belatik said.
Forecasts for 2029-2030 suggest the market could reach approximately $9 trillion, he added.
At the same time, Belatik stressed that the focus is not solely on the size of the market, but on the impact Islamic banking has on the real economy, particularly in supporting small and medium-sized enterprises.
“Based on segment analysis, over 70% of the market is made up of Islamic financing, around 15% comes from Islamic funds, and a small share comes from takaful (Islamic insurance). Notably, these figures do not include the vast halal industry market,” he noted.
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Based on materials from TASS