Newswrap: Islamic finance
Middle Eastern HNW investors shifting to Islamic finance and sustainable investment; Southeast Asia's Islamic banking sector set to grow 8% by 2026; Tanzania’s takaful sector; Global Finance announces World’s Best Islamic Banks 2022.
Middle Eastern high net worth investors shifting to Islamic finance and sustainable investment
A survey by Lombard Odier, a leading global wealth and asset manager, of 300 high net worth (HNW) investors in the Middle East showed that 85% intend to increase their exposure to environmental, social and governance (ESG) or sustainable investments in the future, while 81% already take sustainability and ESG into account when making investment decisions. Some 72% of investors in the region believe that they can generate improved returns through ESG investments. Currently, sustainable investments account for 33% of investment portfolios, which could rise to 52% in the next five years.
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