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Redmoney Consulting

Shift to Islamic finance continues apace despite challenges facing the economy

Saudi Arabia is the world's largest market for Islamic finance. Despite the pandemic-induced economic recession and sharp oil price decline, we expect the ongoing shift to Shariahcompliant finance in Saudi Arabia to continue over the next 12-18 months as corporates and households increasingly convert to Islamic products. The industry will further benefit from increased government sukuk (Islamic bond) issuance, potentially rising foreign investment supported by more lenient entry rules, deepening capital markets and a new wave of mergers. We expect....

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