Global Islamic Economy could reach 4.9 Trillion by next year

Yazrin Syakhairi, the Malaysian Trade Commissioner at the Consulate General of Malaysia in Hong Kong (MATRADE), anticipates global Islamic finance to reach $4.9 trillion by 2025. Speaking at the Asian Financial Forum in Hong Kong, he highlighted the sector’s rapid growth, surpassing $2.2 trillion in 2022. Projections suggest a 10% global growth in the Islamic finance sector for 2023 and 2024. Malaysia, participating in the forum, aims to share its financial expertise, emphasizing Islamic finance tools like Sukuk. Syakhairi also mentioned the potential for increased collaboration between the UAE and Malaysia in the financial sector, noting the UAE’s significant development in Islamic finance.