The annual fifteenth conference on Islamic finance was recently hosted by S&P Global Ratings in collaboration with the Dubai International Financial Centre at the Atrium of the centre.
The event highlighted the robust performance of the Islamic finance sector in 2024, which saw a growth rate of 10.6%, with the total outstanding sukuk surpassing the one trillion dollar mark for the first time.
Discussions at the conference focused on the global outlook for the Islamic finance sector, including the opportunities and challenges for future growth. It provided an opportunity for participants to gain deeper insights into advanced capital markets within the Gulf Cooperation Council (GCC) countries.
Hadi Maliki, Regional Head at S&P Global Ratings, remarked, “The Islamic finance sector continues to demonstrate resilience, buoyed by growth in banking assets and sukuk issuances.”
With the ongoing demand for financing related to economic transformation initiatives within the GCC, the Islamic finance sector is well-positioned to sustain its momentum into 2025, despite prevailing international uncertainties.
The fifteenth edition of the Islamic finance annual conference, organized in partnership with the Dubai International Financial Centre, serves as a vital platform for stakeholders to exchange views and address the opportunities and challenges shaping the ongoing evolution of the Islamic finance sector.
Aliya Alzarouni, the CEO of Operations at the Dubai International Financial Centre Authority, stated, “As the Islamic finance sector continues to grow as a key driver for holistic and sustainable development, the Dubai International Financial Centre remains committed to accelerating transformation in this realm.”
She added, “We are committed to fostering an innovative environment that supports the development of Sharia-compliant financial solutions, which are competitive on a global scale and enhanced by digital technologies.”
The first session titled “Islamic Finance 2025 – 2026: Resilient Growth Amidst Upcoming Challenges” addressed key growth drivers, opportunities, and future challenges.
Speakers included Abdulkader Hussein, Head of Fixed Income at Arqaam Capital, Ali Tawfiq, Head of Sukuk Financing at HSBC for the Middle East, North Africa, and Turkey, and Hitesh Dhawot, Chief Financial Officer of Damac Properties.