Islamic Banking: New Markets To Emerge
BMI View: Â We maintain our bullish outlook on the global Islamic Â Banking sector over the coming years. We highlight Indonesia and Nigeria as two countries where Islamic Banking is set to take off in the coming years.
We forecast strong growth for the USD1.7trn global Islamic finance industry over the coming quarters as several new markets come to the fore.Â Strong sukuk issuance from banks in the Gulf Cooperation Council (GCC) and sovereigns in Asia, combined with landmark product and regulatory developments, have helped bolster the industry. Over the coming quarters we expect the development of regional hubs as the Islamic banking industry grows, but little coordination on a global level. Growth in Islamic Banking will remain strong, in part fuelled by a more promising global macroeconomic outlook, however, expansion rates are likely to be lower over the coming years on the back of higher base effects and several significant impediments.
New Markets On The Horizon
|Upward Trend To Remain In Place|
|Global Islamic Bond & Loans Issuance|