Global Islamic finance market would reach $4.9trln by 2025: Malaysian Trade Commissioner

Global Islamic finance market would reach $4.9trln by 2025: Malaysian Trade Commissioner

HONG KONG - Yazrin Syakhairi, Malaysian Trade Commissioner, under the Trade Section of the Consulate General of Malaysia in Hong Kong (MATRADE), anticipated that the global Islamic finance market would reach US$4.9 trillion by 2025.

Speaking on the sidelines of the Asian Financial Forum (AFF) in Hong Kong, Syakhairi told the Emirates News Agency (WAM) that the Islamic finance market is witnessing significant and rapid growth worldwide, surpassing the size of US$2.2 trillion in 2022.

It is expected that the Islamic finance sector will grow by around 10 percent globally in 2023 and 2024, according to earlier estimates by Standard & Poors Global Ratings.

Syakhairi explained that the AFF is the largest financial event currently taking place, associated with the financial services industry, which is one of the largest industries in Hong Kong, one of the world's major financial cities.

He noted that Malaysia is participating in the event to share its expertise in finance, particularly in Islamic finance.

He mentioned that the forum is a good opportunity to highlight other financing tools such as Sukuk or Islamic bonds, in addition to the prevailing global trend towards green finance, which can then be listed on financial markets in Hong Kong, Dubai, and Kuala Lumpur.

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