Islamic finance increases its role in non-Muslim majority countries
As Islamic finance grows both in concept and popularity, service providers are broadening their reach into non-Muslim majority markets to compete head-to-head with conventional options.
As Islamic finance strengthens and diversifies, service providers are increasingly targeting non-Muslim majority markets and competing directly with conventional services.
Demand in the non-Islamic market has been historically tied to factors spanning real estate investment in the Gulf Cooperation Council (GCC) economies to wealth management among Muslim minority populations in non-Islamic countries. Now impetus is coming from Islamic finance’s closeness to the environmental, social and governance (ESG) criteria used by socially conscious investors.
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Jens Kastner