Global Islamic Finance Market Set For 11.6% Growth, Reaching $13.89 Billion By 2029

The Business Research Company's Islamic Finance Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034

LONDON, GREATER LONDON, UNITED KINGDOM, June 25, 2025 /EINPresswire.com/ -- Rapid growth has been observed in the global Islamic finance market in recent years. The market size is projected to expand from $7.99 billion in 2024 to $8.94 billion in 2025, demonstrating a compound annual growth rate CAGR of 11.9%. Demand for sharia-compliant products and practices, the stimulation of fresh interest due to vast oil wealth, the importance of risk-sharing in raising finance, strong investments in halal sectors, and the expansion of Islamic banking services are some of the factors that have contributed to the growth during the historical period.

What Is The Projected Future Growth Of The Islamic Finance Market Size?
In the coming years, the Islamic finance market size is projected to see rapid growth. According to the projections, the market size will grow to $13.89 billion in 2029 at a compound annual growth rate CAGR of 11.6%. An expansion in the Islamic finance industry, increase in the Muslim population, ethical and socially responsible investing, government regulation and support, and globalization of Islamic finance are expected to drive growth in the forecast period.

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What Are The Key Drivers Propelling The Growth Of The Islamic Finance Market?
The introduction of electronic modes in all products and services, innovation in financial products, new launches of Islamic exchange-traded funds ETFs, popularity of ESG-related financial assets, and the integration of financial technology are among the major trends predicted for the forecast period.

Driving this growth further is an increase in the Muslim population. High fertility rates and a young demographic contribute to the growth of the Muslim population. Adherence to shariah law, which prohibits interest and encourages ethical, risk-sharing financial practices, controls how Muslim populations manage their financial needs. This ensures that their financial activities are in alignment with their religious beliefs and values.

What Key Player Strategies Are Driving The Islamic Finance Market?
Key players in the Islamic finance market include Maybank Islamic, Abu Dhabi Commercial Bank, Etiqa Islamic Berhad, Al Rajhi Bank, Mellat Bank, Riyad Bank, Abu Dhabi Islamic Bank Egypt, Kuwait Finance House, Saudi British Bank, Al Baraka Bank, Bank ABC Islamic, HSBC Amanah, First Security Islami Bank, Bank of Khartoum, Al-Arafah Islami Bank, Social Islami Bank, Al Salam Bank, Ajman Bank, Al Hilal Bank, Bank Islam Brunei Darussalam, Bank Nizwa, EXIM Bank, Iraqi Islamic Bank of Inv & Dev, Affin Islamic Bank, OCBC Al-Amin Bank, Bank Keshavarzi, Barwa Bank, Khaleeji Commercial Bank.

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What Are The Emerging Trends In The Islamic Finance Market?
These major companies are focusing on the introduction of innovative financial products, such as digital banking platforms, to gain a competitive edge in the Islamic finance market. These digital banking platforms are online services that allow customers to manage accounts, make transactions, and access financial products electronically via the internet or mobile applications.

How Is The Islamic Finance Market Segmented?
The Islamic finance market has been segmented in the report as follows:
1 By Financial Sector: Islamic Banking, Islamic Insurance – Takaful, Islamic Bonds ‘Sukuk’, Other Islamic Financial Institutions OIFI’s, Islamic Funds
2 By Size Of Business: Small And Medium Business, Large Business
3 By Banking: Retail Banking, Commercial Banking, Investment Banking

And further sub-segments:
1 By Islamic Banking: Retail Banking, Corporate Banking, Investment Banking, Islamic Microfinance, Islamic Cooperative Banks
2 By Islamic Insurance – Takaful: Family Takaful Life Insurance, General Takaful Non-Life Insurance, Health Takaful, Takaful Investment Accounts, Corporate Takaful Solutions
3 By Islamic Bonds ‘Sukuk’: Sovereign Sukuk, Corporate Sukuk, Sukuk Ijarah, Sukuk Murabaha, Sukuk Musharakah
4 By Other Islamic Financial Institutions OIFI’s: Islamic Investment Banks, Islamic Asset Management Firms, Islamic Leasing Companies, Islamic Microfinance Institutions, Islamic Credit Unions

What Are The Regional Insights In The Islamic Finance Market?
The largest region in the Islamic finance market in 2024 was Middle East and Africa. Asia-Pacific is predicted to be the fastest-growing region in the market. The report covers the Islamic finance market in various regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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