global economy

Global Islamic Finance To Hit $3.7 Trillion In 2020

KUALA LUMPUR: The global Islamic finance industry is expected to hit US$3.7 trillion by the end of 2020, said Tun Musa Hitam, chairman of the jury for The Royal Award for Islamic Finance.

“There is always so much room for growth,” the former deputy prime minister and former chairman of Sime Darby Bhd said at a press conference announcing the winner of the Royal Award for Islamic Finance recently.

The industry reached approximately US$2.14 trillion in 2015, Musa said, citing the Global Islamic Finance Report 2016. Professor Datuk Rifaat Ahmed Abdel Karim, the CEO of International Islamic Liquidity Management (ILLM), was conferred the Royal Award for Islamic Finance 2016.

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