Market Trends of Asia-Pacific Islamic Finance Industry
Emerging Islamic Finance Instruments in Asian Countries Drives the Market
Asia Pacific region is witnessing a growing popularity and awareness of Islamic finance instruments. This increasing popularity and awareness is contributing to the expansion of the Islamic finance market. Increased demand for Sharia-compliant financial products and services is driving the market. In various Asian economies, there is significant growth in Islamic finance for instance China, India, and in a few other Asian countries, Islamic finance is experiencing notable trends, with increasing interest and government support. These countries have witnessed the issuance of Islamic bonds, the establishment of Islamic banks, and a growing appetite for Sharia-compliant investments.
Countries that do have a predominantly Muslim population for instance Malaysia, Pakistan, and Indonesia are beginning to innovate digital Islamic financial instruments and hence boosting the growth of the market.
South-East Asian Region is Leading In Islamic Finance Market
Malaysia during last year exist among the leading country in Islamic financial assets during last, ranking third globally with an asset value of USD 650 Billion. Australia, Sri Lanka, Afghanistan, Bangladesh, and Pakistan exist as the most developed Islamic finance country in Asia Pacific.
Takaful, Sukuk, and Islamic funds are among the leading Islamic finance product in the Asia Pacific region. With countries of Bangladesh, Malaysia, Maldives, Mauritius, and Indonesia having leading positions. Malaysia and Indonesia exist among the leading countries with outstanding sukuk existing at USD 279 Billion and USD 84 Billion last year. These trends signify an established and continuously expanding Islamic Finance market in the Asia Pacific region.
