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IFN Deals of the Year 2023

Economic diversification agendas and growing demand will buoy profits

Supportive oil prices and ambitious economic diversification agendas will sustain strong business activity for Islamic banks across the Gulf Cooperation Council (GCC) countries over the next 12 to 18 months. We expect the profitability of Shari'ah-compliant banks operating in the region to continue to exceed that of their conventional peers in 2024 due to margin advantage. Continued economic growth will keep GCC Islamic banks' asset quality stable while strong capital and liquidity will enable them to capitalize on the growing....

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