According to data for 2026, the global Islamic finance market has reached $6.5 trillion. This was stated by Vusal Gasimli, Executive Director of the Center for Analysis of Economic Reforms and Communications (CAERC) of Azerbaijan, as reported by FinFly.
He noted that this figure is expected to increase by 10% in the current year and exceed $10 trillion by 2030.
"More than 70% of the total volume of Islamic finance is accounted for by the Islamic banking sector. Along with this, other Islamic finance instruments are rapidly developing. At the global level, there is a clear expansion of this market. Although the Gulf countries provide more than half of its volume, Indonesia and Malaysia are also among the largest centers of Islamic finance.
Experts note that the rapid growth of Islamic finance aligns with modern global trends, in particular ESG principles and the concept of a "green" economy. The principles of risk sharing, transparency, inclusivity and fairness that underlie Islamic finance are consonant with modern trends in technological development, including the revolution in artificial intelligence," he said.
According to V. Gasimli, Azerbaijan is also following these global trends.
"These issues are reflected in the country's socio-economic development strategies and documents of the Central Bank. For Azerbaijan, changes in the essence of investments and new technological approaches are of great interest," he added.
