Bahrain tops global ranking in Islamic finance regulations

Bahrain tops global ranking in Islamic finance regulations

Manama: Mahmood Rafique, Editor: The Kingdom of Bahrain, the first Gulf nation to license an Islamic bank in 1970’s, has topped the ranking in the realm of the Islamic finance regulations. Bahrain secured a ranking 1st globally in Islamic Finance Regulations in this year’s edition of the ICD-LSEG Islamic Finance Development Report, cementing the island […]Manama: Mahmood Rafique, Editor: The Kingdom of Bahrain, the first Gulf nation to license an Islamic bank in 1970’s, has topped the ranking in the realm of the Islamic finance regulations.

Bahrain secured a ranking 1st globally in Islamic Finance Regulations in this year’s edition of the ICD-LSEG Islamic Finance Development Report, cementing the island nation’s standing as a leading pioneer in Islamic financial regulation on an international level.

Assessing the global industry’s performance during 2022, the report demonstrated the transformation of the Islamic finance industry across the past decade, which began as a niche market and gained a competitive edge, spreading across several countries and regions. With noticeable growth across the Middle East, the report additionally determined a surge in the practice of sustainable finance at Islamic banks, which has led to the development of new frameworks covering ESG and sustainable investments.

Based on the Islamic Finance