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Khaleej Times
20-05-2025
- Business
- Khaleej Times
Global Islamic finance assets to surpass $7.5 trillion by 2028
Global Islamic finance assets will reach $7.5 trillion by 2028, up from $5.5 trillion in 2024, reflecting the rapid expansion and growing relevance of Shariah-compliant finance in global markets, a report showed on Monday. Standard Chartered unveiled today its comprehensive report on Islamic banking titled 'Islamic Banking for Financial Institutions: Unlocking Growth Amidst Global Shifts.' In 2024, the Islamic finance industry surpassed a major milestone, reaching $5 trillion in global assets. This represents a 12 per cent rise from 2023 and a 43 per cent increase from 2020. Islamic banking is the largest contributor to the Islamic finance industry and remains the engine of growth, accounting for over 70 per cent of total Islamic finance assets. Islamic Banking assets are expected to grow from $4 trillion in 2024 to $5.2 trillion by 2028, the report said. In the early years of Islamic finance, adoption was limited to a handful of markets. Now, a network of over 1,980 Islamic financial institutions deliver Islamic finance products and solutions across more than 90 markets worldwide. Yet despite this expansive market reach, 80% of industry assets remain concentrated in five markets: Iran, Saudi Arabia, Malaysia, the UAE and Kuwait. 'The diversification of assets outside of these markets will depend on how the broader community responds to challenges and seizes opportunities in the coming years. Such challenges and opportunities will be both internal to the industry, and at a regional and global socioeconomic level,' the report said. Meanwhile, the sukuk market is set to rise from $971 billion to nearly $1.5 trillion over the same period. Sukuk issuance remains concentrated in the Gulf Cooperation Council (GCC), Southeast Asia, Türkiye, and Pakistan. However, we have seen Egypt, the Philippines, and Kenya emerge with more corporate and sovereign issues in recent years. Sukuk has increasingly been attracting a wider range of buyers, proving popular with non-Muslim investors, which has helped to narrow a notable gap in demand and supply. Sukuk is expected to form a more prominent portion of assets in the Islamic finance industry in the future, as demand for Shariah-compliant financial instruments grows. Khurram Hilal, CEO, Group Islamic Banking, Standard Chartered said: 'Islamic finance is entering a new era that is defined by scale, sustainability, and strategic integration. A 36 per cent projected increase in assets reflects the sector's strong fundamentals and global appetite for ethical and inclusive finance. At Standard Chartered, we are proud to support this evolution through tailored, Shariah-compliant solutions in over 25 markets.' The report notes persistent challenges in the sector. The ambitions of both Islamic financial institutions and governments to drive the industry further cannot be fully realised without various key developments, particularly in the standardisation of regulatory and legal frameworks, and the wider availability of Islamic risk management and liquidity tools. 'This inflection point brings multiple opportunities. The financial institutions that lean quickly into innovation and emerging trends will be likely to secure first-mover advantages. There is also significant opportunity to be seized by deepening alignment with sustainability, ESG, and ethical finance,' the report said. Khurram concluded: 'Fostering innovation, strengthened market connectivity, and an elevated focus on sustainability will unlock the greatest opportunities in the future of Islamic finance. We aim to play a pivotal role in this future, collaborating, adapting, and delivering value to our clients and communities globally.'
Time Business News
07-05-2025
- Health
- Time Business News
The Benefits of Faith-Based Addiction Recovery Programs
Introduction In the quest for sobriety, many find that conventional therapy alone doesn't quite satiate the spiritual hunger left in addiction's wake. This is where faith-based addiction recovery programs enter as a compelling paradigm—where healing extends beyond chemical dependency to touch the metaphysical core of a person. These programs do more than treat symptoms; they reintroduce the individual to a life imbued with purpose, community, and moral clarity. Sublocade and Suboxone are both medications used to treat opioid use disorder, but they differ in form, administration, and duration of action. While is sublocade the same as suboxone may seem like a straightforward question, the answer lies in their distinct delivery methods. Suboxone is a sublingual film or tablet taken daily, combining buprenorphine and naloxone to prevent withdrawal and reduce cravings. Sublocade, on the other hand, is a monthly injection that delivers a steady dose of buprenorphine without naloxone. These differences can influence patient adherence and treatment effectiveness, making personalized medical guidance essential when choosing between the two. Holistic Healing Through Spiritual Guidance Faith-based recovery programs operate on a foundational belief: that addiction is not merely a biological ailment but a spiritual affliction. This perspective allows these programs to deliver holistic healing—tending not just to the mind and body, but also to the soul. Prayer, meditation, and scripture readings are not adjunctive; they are central, forming a stabilizing latticework around which recovery is structured. Participants often report a rekindled sense of inner harmony, where spiritual rituals become instruments of emotional calibration. The act of surrendering control to a higher power, a tenet common to many faith traditions, brings a profound psychological relief that secular models sometimes fail to replicate. Community and Fellowship in Faith-Based Recovery Addiction thrives in isolation. Faith-based programs counteract this with a powerful antidote: fellowship. Shared belief systems forge strong interpersonal bonds that are not only emotional but spiritual. Within these circles, accountability flourishes—not from external pressure, but from a collective desire to uphold shared values. This sacred kinship, whether in the form of prayer groups, Bible studies, or spiritual mentorship, offers a safe space for vulnerability. In the crucible of mutual trust and faith, healing accelerates. People no longer feel alone in their struggle; they are woven into a tapestry of hope and redemption. Moral Framework and Purpose-Driven Recovery At the heart of faith-based recovery is the reconstitution of a moral compass. Addiction often dismantles one's identity, leading to a loss of direction and self-worth. Faith-based programs help rebuild these foundations by anchoring recovery in timeless ethical principles. Whether it's the Christian ethos of grace and forgiveness, the Islamic value of inner jihad (struggle), or the Buddhist principle of mindfulness and compassion, faith traditions offer a moral scaffold on which to reconstruct a life of integrity. This values-based approach enables individuals to see sobriety not as a limitation, but as a gateway to higher purpose. Reduced Relapse Rates in Spiritually-Inclined Programs Data suggests that individuals involved in spiritually oriented recovery programs often exhibit lower relapse rates. While not a panacea, faith functions as a protective buffer—its practices fostering mental fortitude, emotional resilience, and moral vigilance. Regular spiritual discipline—daily devotionals, community worship, scriptural engagement—creates structured rhythms that reinforce sobriety. In these routines, participants find solace, strength, and a renewed sense of identity, making them less susceptible to the temptations of relapse. Integration of Prayer, Scripture, and Worship The spiritual tools employed in faith-based programs are not ornamental—they are deeply therapeutic. Prayer becomes a dialogue with the divine, calming anxiety and instilling hope. Scripture offers timeless wisdom and perspective, guiding individuals through moments of despair with sacred encouragement. Worship, in its many forms—singing, meditation, ritual—unlocks catharsis and renewal. These practices help regulate emotions, dissipate cravings, and generate a sense of spiritual alignment. For many, these rituals become lifelong habits that sustain sobriety well beyond formal treatment. Accessibility and Support Beyond Formal Treatment One of the most enduring benefits of faith-based recovery programs is their integration with local religious communities. These communities extend support beyond the clinical timeline, offering ongoing mentorship, spiritual counseling, and social reinforcement. Faith institutions often open their doors to those in recovery, providing not just spiritual nourishment but tangible support: job training, housing assistance, family counseling. The church, mosque, synagogue, or temple becomes more than a place of worship—it becomes a sanctuary for continued growth and healing. Naloxone is a critical medication used to reverse opioid overdoses, often restoring breathing within minutes. Its effectiveness depends largely on how quickly it can be administered in emergency situations. For those wondering what are common administration routes for naloxone , the primary methods include intranasal (nasal spray), intramuscular (injection into the muscle), subcutaneous (under the skin), and intravenous (directly into a vein). The nasal spray is especially popular due to its ease of use by non-medical individuals. These various delivery methods ensure that naloxone can be administered quickly and efficiently, offering a vital second chance in life-threatening situations. Conclusion Faith-based addiction recovery programs offer a sanctuary for those seeking not just to quit substances, but to reawaken the spirit. They bridge the gap between sobriety and sanctity, providing a framework where healing is holistic, community-driven, and purpose-filled. In the often turbulent journey of addiction recovery, faith is not merely a companion—it is an anchor. TIME BUSINESS NEWS
