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Redmoney Consulting

Cross-Sector – Islamic Finance: Growth prospects remain strong despite challenges from pandemic

Despite the pandemic-driven weakening in operating environments across the globe, Islamic financial markets continued to expand in 2020 as demand for Shariah-compliant products remained resilient. In 2021 and beyond, we expect that Islamic finance will continue to expand, maintaining its now long-established growth trend. While the rate of this expansion may vary from year to year, we anticipate that the sector will grow on all fronts, including banking, sukuk, takaful and insurance, with this growth benefiting from supportive government policies....

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