11:23 - 27.02.2025

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February 27, Fineko/abc.az. The total volume of the Islamic finance market will reach $5.3 trillion by the end of 2025, and is projected to grow to $9 trillion by 2030, ABC.AZ reports, quoting Abdelilah Belatik, Secretary General of the General Council for Islamic Banks & Financial Institutions (CIBAFI).

"We expect that by the end of 2025, the total volume of the Islamic finance market will reach $5.3 trillion with the possibility of further growth. For comparison, in 2010 this figure was $1 trillion, and by 2024 it had grown to $4.5 - 4.7 trillion, which has quadrupled in 14 years," Belatik said.

Forecasts for 2029-2030, according to Belatik, indicate reaching a level of nearly $9 trillion.

"According to segment analysis, over 70% of the market is accounted for Islamic finance, about 15% by Islamic funds, and a small share is occupied by takaful (Islamic insurance). However, these figures do not include the largest market in the halal industry," he said.