Latest news with #KhurramHilal
Arabian Business
22-05-2025
- Business
- Arabian Business
Global Islamic finance assets to surpass $7.5tr by 2028: Standard Chartered
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, Standard Chartered said in a report. 'Islamic banking' is the largest contributor to the Islamic finance industry, accounting for over 70 per cent of total Islamic finance assets, said the report titled 'Islamic Banking for Financial Institutions: Unlocking Growth Amidst Global Shifts'. The report projected Islamic banking assets to grow to $5.2 trillion by 2028 from $4 trillion in 2024. Meanwhile, the sukuk market is set to rise from $971 billion to nearly $1.5 trillion over the same period, the report said. 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,' he said. The comprehensive report examines growth drivers including regulatory developments and market expansion opportunities, while addressing challenges related to regulation, liquidity, and risk management. The report also explores market oversight frameworks, innovation pathways, and ESG integration, supplemented by market spotlights featuring real-world solution case studies. Standard Chartered, which offers Shariah-compliant solutions to financial institution, corporates, wealth, retail and private banking client segments in over 25 countries through its Saadiq programme, said the bank aims to play a pivotal role in the segment in future, collaborating, adapting, and delivering value to their clients globally.
Zawya
21-05-2025
- Business
- Zawya
Islamic finance assets ‘to hit $7.5trln by 2028'
Global Islamic finance assets will reach $7.5 trillion by 2028, up from $5.5trn in 2024, reflecting the rapid expansion and growing relevance of Shariah-compliant finance in global markets, says Standard Chartered's new report on Islamic banking. The report, titled 'Islamic Banking for Financial Institutions: Unlocking Growth Amidst Global Shifts', confirms that in 2024, the Islamic finance industry surpassed a major milestone, reaching $5trn in global assets. This represents a 12 per cent rise from 2023 and a 43pc increase from 2020. 'Islamic Banking' is the largest contributor to the Islamic Finance industry and remains the engine of growth, accounting for over 70pc of total Islamic finance assets. 'Islamic Banking' assets are expected to grow from $4trn in 2024 to $5.2trn by 2028. Meanwhile, the Sukuk market is set to rise from $971 billion to nearly $1.5trn over the same period. 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 36pc 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 comprehensive report provides financial institutions with strategic insights covering the Islamic finance landscape and insights from the 'Pulse of Islamic Banking' client survey 2025. It examines growth drivers including regulatory developments and market expansion opportunities, while addressing challenges related to regulation, liquidity, and risk management. The report also explores market oversight frameworks, innovation pathways, and ESG integration, supplemented by market spotlights featuring real-world solution case studies. 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.' As the only international bank with a global Islamic banking franchise, Standard Chartered Saadiq, offers Shariah-compliant solutions to financial institution, corporates, wealth, retail and private banking client segments in over 25 countries. Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
21-05-2025
- Business
- Zawya
Global Islamic finance assets to top $7.5trln 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, says Standard Chartered's new report on Islamic banking. The report, titled "Islamic Banking for Financial Institutions: Unlocking Growth Amidst Global Shifts", confirms that in 2024, the Islamic finance industry surpassed a major milestone, reaching $5 trillion in global assets. This represents a 12% rise from 2023 and a 43% increase from 2020. 'Islamic Banking' is the largest contributor to the Islamic Finance industry and remains the engine of growth, accounting for over 70% of total Islamic finance assets. 'Islamic Banking' assets are expected to grow from $4 trillion in 2024 to $5.2 trillion by 2028. Meanwhile, the Sukuk market is set to rise from $971 billion to nearly $1.5 trillion over the same period. Khurram Hilal, CEO, Group Islamic Banking, Standard Chartered, said: 'Islamic finance is entering a new era that is defined by scale, sustainability, and strategic integration. A 36% projected increase in assets reflects the sector's strong fundamentals and global appetite for ethical and inclusive finance. At Standard Chartered, we are proud to support this evolution through tailored, Shariah-compliant solutions in over 25 markets.' The comprehensive report provides financial institutions with strategic insights covering the Islamic finance landscape and insights from the "Pulse of Islamic Banking" client survey 2025. It examines growth drivers including regulatory developments and market expansion opportunities, while addressing challenges related to regulation, liquidity, and risk management. The report also explores market oversight frameworks, innovation pathways, and ESG integration, supplemented by market spotlights featuring real-world solution case studies. Khurram concluded: 'Fostering innovation, strengthened market connectivity, and an elevated focus on sustainability will unlock the greatest opportunities in the future of Islamic finance. We aim to play a pivotal role in this future, collaborating, adapting, and delivering value to our clients and communities globally.' As the only international bank with a global Islamic banking franchise, Standard Chartered Saadiq, offers Shariah-compliant solutions to financial institution, corporates, wealth, retail and private banking client segments in over 25 countries. - TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Business Recorder
21-05-2025
- Business
- Business Recorder
Standard Chartered Report: Global Islamic finance assets to surpass US$ 7.5tln by 2028
KARACHI: Standard Chartered has projected that global Islamic finance assets will reach USD7.5 trillion by 2028, up from USD5.5 trillion in 2024, reflecting the expanding relevance of Shariah-compliant finance globally, according to Standard Chartered's comprehensive report "Islamic Banking for Financial Institutions: Unlocking Growth Amidst Global Shifts." In 2024, the Islamic finance industry surpassed $5 trillion in global assets, a 12 percent rise from 2023 and 43 percent increase from 2020. Islamic banking accounts for over 70 percent of total Islamic finance assets, and assets projected to grow from $4 trillion in 2024 to $5.2 trillion by 2028. The Sukuk market is expected to expand from $971 billion to $1.5 trillion during this period. Khurram Hilal, CEO of Group Islamic Banking at Standard Chartered, has said that Islamic finance is entering a new era defined by scale, sustainability and strategic integration. The projected 36 percent increase in assets reflects strong fundamentals and global appetite for ethical and inclusive finance, he added. The report provides financial institutions with insights covering the Islamic finance landscape and insights from the "Pulse of Islamic Banking" client survey 2025. It examines growth drivers, regulatory developments, and market expansion opportunities, whilst addressing challenges in regulation, liquidity, and risk management. It also explores market oversight frameworks, innovation pathways, and ESG integration, supplemented by market spotlights featuring real-world solution case studies. Khurram said that fostering innovation, strengthened market connectivity, and sustainability will unlock the greatest opportunities in the future of Islamic finance. As the only international bank with a global Islamic banking franchise, Standard Chartered Saadiq, the Bank offers Shariah-compliant solutions to financial institution, corporates, wealth, retail and private banking client segments in over 25 countries, he added. Copyright Business Recorder, 2025
Trade Arabia
20-05-2025
- Business
- Trade Arabia
Global Islamic finance assets to top $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, says Standard Chartered's new report on Islamic banking. The report, titled "Islamic Banking for Financial Institutions: Unlocking Growth Amidst Global Shifts", confirms that in 2024, the Islamic finance industry surpassed a major milestone, reaching $5 trillion in global assets. This represents a 12% rise from 2023 and a 43% increase from 2020. 'Islamic Banking' is the largest contributor to the Islamic Finance industry and remains the engine of growth, accounting for over 70% of total Islamic finance assets. 'Islamic Banking' assets are expected to grow from $4 trillion in 2024 to $5.2 trillion by 2028. Meanwhile, the Sukuk market is set to rise from $971 billion to nearly $1.5 trillion over the same period. 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% 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 comprehensive report provides financial institutions with strategic insights covering the Islamic finance landscape and insights from the "Pulse of Islamic Banking" client survey 2025. It examines growth drivers including regulatory developments and market expansion opportunities, while addressing challenges related to regulation, liquidity, and risk management. The report also explores market oversight frameworks, innovation pathways, and ESG integration, supplemented by market spotlights featuring real-world solution case studies. 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.'
