Presentation of the Economic Report by the Observatory of Islamic Finance in Spain SCIEF – Casa Árabe

Consult the report in English by clicking on The Expansion of Islamic Finance Globally: Opportunities in Europe and Spain
Consulta la nota en español en: Nota Económica 2024. ‘La expansión de las finanzas islámicas en el mundo’

In recent years, Islamic finance has experienced significant growth both in volume and geographic expansion. The total value of Islamic financial assets reached an estimated USD 4.5 trillion in 2022, a figure expected to rise to USD 6.7 trillion by 2027 (ICD, 2023), demonstrating its resilience and robustness today, as numerous countries have achieved substantial structural significance in this sector.

In the European context, Islamic finance offers development opportunities by converging with one of the fastest-growing and most promising sectors in recent times: ESG (Environmental, Social, and Governance) criteria.

Moreover, knowledge and mastery of Islamic financial products are increasingly necessary for companies looking to operate in countries where Islamic finance is gaining systemic importance. The economic diversification of the Gulf Cooperation Council (GCC) countries and growth in Southeast Asia are creating business opportunities that increasingly require companies to align their projects with Islamic finance – or even utilize it – to finance part or all of their projects.

The Observatory of Islamic Finance in Spain SCIEF – Casa Árabe publishes this socioeconomic report on “The Expansion of Islamic Finance in the World: Opportunities in Europe and Spain,” which provides an update on the latest advancements and developments by sector and market of Islamic finance globally, by regions and countries, including Europe and Spain, and identifies those where it has achieved substantial structural significance and where opportunities exist for Spanish companies.

The report’s findings will be presented in a meeting of the Observatory members with the presence of the report’s author and several experts in the field. Attendees will receive a copy of the report. Attendance requires prior registration here.

The Observatory of Islamic Finance in Spain SCIEF – Casa Árabe is an analysis and consultation group for knowledge about the current state of Islamic finance, bringing together leading experts, consulting firms, law firms, and banking institutions that work or specialize in this field in Spain. Created in 2017 by Casa Árabe and the SCIEF (Spanish-Saudi Center for Islamic Economics and Finance) of IE University, its activities include the periodic meeting of its members on specific topics related to the development of the industry in Spain, conducting case studies and expert conferences, as well as preparing an annual report on the state of Islamic finance in Spain.

Consult the report in English by clicking on The Expansion of Islamic Finance Globally: Opportunities in Europe and Spain

Consulta la nota en español en: Nota Económica 2024. ‘La expansión de las finanzas islámicas en el mundo’